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  Last Updated: 1/12/2010 1:43:46 PM With Senate Democrats unable to persuade Republicans to extend the 2009 estate tax law for even a couple of months until a more permanent solution could be devised, there is currently no tax on the estates of those dying during 2010. Although Congress may reinstate the tax retroactively in Read Full Article

  Last Updated: 1/6/2010 5:31:45 PM Funerals rank among the most expensive purchases many consumers will ever make. A traditional funeral costs about $6,000, although “extras” like flowers, obituary notices, acknowledgment cards and limousines can bring the total to well over $10,000. Moreover, people often “overspend” on a funeral or burial because they think of Read Full Article

  Last Updated: 1/12/2010 1:57:32 PM As ElderLawAnswers reported earlier this year, the uncertain stock market has made prepaid 529 plans more attractive to parents looking to save for their children’s college education. However, the same economic problems that have increased the popularity of the plans are also putting the plans in jeopardy. Many plans Read Full Article

  Virginia Morris. How to Care for Aging Parents. Workman Publishing Company, Inc. New York, NY. 2004. 691 pages. $12.89 from Amazon.com (click on book to order) As your parents age, their needs begin to change. How to Care for An Aging Parent — a revised and greatly expanded edition of a book first published Read Full Article

  Last Updated: 12/8/2009 10:43:58 AM A durable power of attorney (POA) allows the person creating the document, called the “principal,” to name a trusted agent who can act on his behalf in almost any situation. But because of the risk of abuse, many banks will scrutinize a POA carefully before allowing the agent to Read Full Article

  Last Updated: 10/15/2009 9:41:14 AM If you are retired or are nearing retirement, the main questions on your mind are probably “Will I run out of money in retirement?” and “Will I be able to maintain my standard of living?” For answers, people often turn to free online retirement calculators, such as those listed Read Full Article

  Last Updated: 11/12/2009 11:17:25 AM For the first time since 1989, when a law was enacted protecting the spouses of institutionalized Medicaid recipients from impoverishment, the federal Centers for Medicare and Medicaid Services is not raising its guidelines for how much money the husbands or wives of institutionalized Medicaid recipients may keep. With no Read Full Article

  Last Updated: 12/8/2009 4:27:24 PM As the New Year approaches, taxpayers around the nation are thinking about making gifts or other financial moves before January 1 that will benefit them come April 15, 2010. Here are some year-end considerations of particular interest to seniors. A Reprieve on RMDs Last year, as the stock market Read Full Article

  Last Updated: 11/25/2009 11:32:36 AM Carolyn Rosenblatt. The Boomer’s Guide to Aging Parents. AgingParents.com. 2009. 262 pages. $39.99 (click on book to order) As members of the boomer generation become caretakers for their parents, more and more guides are popping up. The Boomer’s Guide to Aging Parents provides practical information on topics that aren’t Read Full Article