Married IRA owners should update estate plans to address SECURE Act changes to IRA taxation and new Indiana Medicaid policy. This article explains why.

SECURE Act changes to IRAs will affect you or someone you know in 2020. The ‘‘Setting Every Community Up for Retirement Enhancement Act of 2019’’ (SECURE Act) begins on page 604 of H. R. 1865, the 715-page Congressional appropriations bill that President Trump signed on December 20, 2019. This article highlights some SECURE Act provisions and suggests income tax planning strategies that may help some families reduce tax burdens.

This article describes special problems challenging some older married folks, and explains how elder law attorneys are using family law tactics to help solve those problems.

Medicaid application trial and error creates big problems for nursing home residents. Unfortunately, it is a common practice that creates financial nightmares for nursing home residents’ families. This article explains common Medicaid application problems and suggests when people should seek professional help from experienced elder law attorneys. Medicaid Application Trial and Error – Repetition Doesn’t […]

SECURE Act IRA changes may affect retirement planning strategies dramatically. On May 23, 2019, 417 members of the U.S. House of Representatives voted to change IRAs with the “SECURE Act” (Setting Every Community Up for Retirement Enhancement Act of 2019). If Congress and the White House agree on a bill, it will change the landscape for retirement contributions and required IRA withdrawals. This article describes some of the SECURE Act’s key aspects and an alternative U.S. Senate bill.

The retirement plan concept leads us to believe that we should contribute as much as possible to IRAs and other tax-deferred retirement plans, and avoid withdrawing more than the required minimum distributions. While this strategy will maximize retirement plan growth and the likelihood that it will provide income late in life, it also sets up […]

[See our Disclaimers page about relying on this website’s contents.] (Updated March 14, 2018) Hollywood actress Betty Davis was quoted as saying, “Old age ain’t no place for sissies.” Unfortunately (or fortunately, depending on how you view it) more people are reaching older ages today than ever (such as Ira Chestnut, pictured at left as a high […]

[See our Disclaimers page about relying on this website’s contents.] Congress changes federal tax law almost every year. Some changes are very dramatic, and other changes are so subtle that tax lawyers must scour them to find the nuances. Federal tax law changes for the 2015 tax year (affecting income tax returns filed in 2016) […]

Retirement plans, annuities, and life insurance policies are great tools to accumulate and protect wealth for some people. However, all investments require some attention to details regarding beneficiary designations and ownership choices. None of these tools fits everyone and some tools can be inappropriate for some people. A knowledgeable estate planning attorney uses these financial […]

[See our Disclaimers page about relying on this website’s contents.] This article is the first part of a two-part series of about joint bank accounts and other kinds of ownership of bank accounts and investments (Click here to read Part 2). We have seen many avoidable cases of error, fraud, and abuse over the years. […]