So, you’ve decided a Trust is the best way to protect your legacy. Congratulations! You’ve done the hard work of deciding what goes where. Now comes the part that feels a bit like casting a lead role in a high-stakes Broadway show: Choosing the Trustee. This person (or institution) will hold the keys to the kingdom. They aren't just [...]
Do you want your ex-spouse to get your money when you die? Or how about someone that’s fallen out of your good graces? No matter what your will says, the name(s) on the beneficiary form you signed is written in stone. And if you forgot to name a new beneficiary after a change in family status, somebody is just plain [...]
The Health Savings Account has been a wonderful addition to the financial landscape of people who are eligible for one. They’re often thought of as a way to pay for qualified medical expenses with pre-tax money during your working years for things like deductibles, copays and non-covered items—in other words, things not covered by insurance. The rules change a [...]
In 1965, President Lyndon Johnson signed legislation creating Medicare—government health insurance for America’s elderly. At the beginning, there was only Part A hospital insurance and Part B outpatient services for things like doctor visits. As the program developed, other ways to deliver Medicare were created. In 1997 Part C or Medicare Advantage (MA) plans were added. MA plans were [...]
Very few people like surprises, at least not the kind that come from the IRS. So, as you look ahead through 2026, here are the numbers the IRS will use to decide how much money they think you’ll owe them. Standard Deduction The standard deduction reduces a taxpayer’s taxable income by a flat dollar amount which is determined by [...]
What’s going to happen in 2026? If I could wave my hands over a crystal ball or rub a magic lamp, I’d tell you. Unfortunately, that stuff only works in the movies. But even though I’m not a sage or sooth-sayer with mystical powers, I do have guaranteed information you can take to the bank. And what is this beneficial [...]
Your identity is priceless—to you—and to hundreds of thousands of hackers around the globe. They find ways to capture your information, hijack your money and credit and plunder them like conquering soldiers carrying off the spoils of war. The number of victims in this cyber war is growing at an alarming rate. The latest figures indicate that identity theft [...]
To paraphrase the lyrics of an old song—Social Security, it is a-changin’. In fact, it changes every year. 2026 is no different. There are six major changes you need to know about and prepare for. The Social Security cost-of-living adjustment (COLA) is going up Since 1975, Social Security has adjusted beneficiary payouts every year with a cost-of-living adjustment (COLA) [...]
As Medicare recipients plan and budget for healthcare expenses next year, the common question is, “What will Medicare cost.” And no wonder. The cost of healthcare for America’s senior citizens is out of control. According to a report from RBC Wealth Management , the projected lifetime cost of care for an average 65-year-old couple is $683,306—and that doesn’t factor in long-term care costs, [...]
Filing tax forms is never fun, but there are some changes coming in 2026 that will make the process easier for businesses who use independent contractors. Businesses that pay independent contractors (non-employees) for services are required to file IRS Form 1099-NEC if total payments exceed a specific threshold. For decades, that threshold has been $600 or more in a [...]
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