Finances
We have spent a lot of time during the past year discussing the importance of a Power of Attorney. Because a Power of Attorney enables your agent to act on your behalf for all financial matters, it is extremely important that you choose an agent that you trust. Effectively, you are giving someone else the power to…
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What do Melinda and Bill Gates and MacKenzie and Jeff Bezos have in common? You may respond that they are ultra-rich billionaires, but another correct answer is both couples experienced a gray divorce. Over the next few weeks we will be exploring gray divorce and its impact on aging couples. What is Gray Divorce? Have…
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If you’ve ever had someone close to you die and have been tasked with planning arrangements for the wake, funeral, and burial or cremation you know it can be difficult. Not only are you dealing with heartache and grief of losing that loved one, but now you’re also dealing with the organizational aspects of death.…
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One major concern for vulnerable older adults is financial exploitation. Almost daily, we hear stories of older adults being taken advantage of or falling for a financial scheme. Financial exploitation of older adults is pervasive, expensive, and difficult to detect. As NPR reported, “as we get older, we become more vulnerable to fraud in so…
Read More Our last blog covered the top three things you should know about Georgia Nursing Home Medicaid. Coming in at #1 was: You likely don’t make too much money to qualify for nursing home Medicaid. This confuses so many families—and even professionals. Georgia does have an income cap. By having an income…
Read More The recent article in the New York Times, “Too Little Too Late’: Bankruptcy Booms Among Older Americans,” stirred up quite a bit about the financial situation many older adults are facing. As the article points out, many older adults are turning to bankruptcy as a solution to their problems. More Older Adults are Filing for…
Read More Medicaid is a means-tested, government-provided health insurance benefit. It is the largest payer of nursing home care in Georgia. It is also commonly misunderstood. For instance, many people believe that they may have too much income for Medicaid. It is true that Georgia has an income cap. For 2018, that income cap is $2,250. This…
Read More This may be your last chance to benefit from write-offs that are easy to overlook, since the new tax law has eliminated some of them starting in 2018. If you can, claim some of these: Unreimbursed Employee Expenses – They are deductible along with other miscellaneous expenses if they exceed two percent of your adjusted…
Read More The IRS conducts audits to minimize the “tax gap,” or the difference between what the IRS is owed and what the IRS actually receives. Sometimes audits are random. Here are seven of the biggest red flags likely to land you in the audit hot seat. Making Math Errors –When the IRS starts investigating, “oops”…
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