Clients can make five years’ worth of gifts to a 529 education plan for a child or grandchild, claiming a federal gift tax exclusion for the full amount. There are at least four reasons clients might want to do this:
The U.S. Department of Veterans, through Tricare and the GI Bill, offers numerous basic health care and education benefits to veterans. Even with these programs that help veterans and their families, other little-known services can improve their lives and ease the financial burden of medical care and other expenses. Check your veteran status to see if you qualify for these ten benefits.
Certain families have cause to worry about the American Families Plan proposed by President Biden.
For many families, providing long term care for an aging loved one in the home has become an even bigger priority than normal because of the COVID-19 pandemic and its impact on those in senior living communities. In-home care can be costly, which makes the Aid and Attendance Benefit provided by the Department of Veterans Affairs of critical importance to help pay for such care.
“Many couples don’t foresee the possible financial hit if one partner dies, including the tax crunch sometimes called the ‘widow’s tax’,” Jeff Stimpson writes in Financial Advisor, referring to potential tax and cash flow problems faced by women and men after the loss...
The VA Privacy Service and USPIS, with their continued partnership, share a common goal: to educate veterans and their families about known scams and provide simple precautions they can take to protect their identity and money.
The general principles of estate planning are the same in every U.S. state, but each state has different tax laws and different regulations affecting wills and powers of attorney.
Post-Traumatic Stress Disorder (PTSD) is a medical condition where the body experiences difficulty coping with severe stress. There are many triggers, but it is commonly diagnosed in combat Veterans. PTSD can also be caused by witnessing or living through shocking...