In a matter of days, the new rules for reverse mortgages are slated to kick in. These rules were designed to clarify the uses of reverse mortgages, protect both spouses and shift the way the loan values are calculated. If you’re considering a reverse mortgage, here’s what you can expect after August 4. Reverse mortgages are reserved for those who over the age of 62 and who need a way to take advantage of their home equity. Whether they’ve lost part of their retirement due to the recession or … [Read more...] about Reverse Mortgages: Using Your Home to Stay at Home
Costs of Private Nursing Homes Increasing
Private nursing home costs are rising fast, so much so that it’s now twice as much as college tuition in most states. On average, these costs have increased by 25 percent over the past few years with the average cost now at $83,948. The costs for semi-private accommodations aren’t much better, they come in at just $10,000 less annually. The costs of private nursing homes are high, but there are even more increases on the horizon for those living in assisted living facilities, as well. As baby … [Read more...] about Costs of Private Nursing Homes Increasing
Intestacy in Nashua, New Hampshire
Intestacy is the state or condition of dying without a will. If someone in Nashua dies intestate, the New Hampshire state government will oversee the dissolution of that person’s estate. There’s an order to how that’s done and it begins with ensuring the debts are paid. After that, a process begins that the remaining assets are paid in order, beginning with a surviving spouse, if there is one. Surviving Spouse If there is a surviving spouse, he or she will be first to … [Read more...] about Intestacy in Nashua, New Hampshire
Salem Retirement Planning: Yes, Women Do Have Different Concerns
The difference between men and women and their retirement plans aren’t as similar as some might think. It’s about far more than ensuring the retirement account hits a magic number. The most obvious difference is that women live longer than their male counterparts; in fact, the difference can be five years or more. While many will have the benefit of their husband’s retirement benefits, that’s not always the case. The tides are shifting to some degree, but for those retiring in the next … [Read more...] about Salem Retirement Planning: Yes, Women Do Have Different Concerns
North Andover Guardianship: Your Kids are Your Incentive for Early Planning
If you’re 40, and have children, ask yourself who would care for them if something were to happen to you and your current or former spouse. Who would ensure they got to their dental appointments? School? Who would sit up all night after that first broken heart your teenage daughter experiences? How do you know they would attend college? For that matter, who else knows you’ve established a college fund for them already? If for no other reason, parents should make estate planning a priority for … [Read more...] about North Andover Guardianship: Your Kids are Your Incentive for Early Planning
Salem Estate Planning: Tables Turn – The Dreaded Talk, but Different Terms
Depending on the eccentricities of your family, the “talk” that you received, probably around the age of 13 or 14, was either something so horrifying that you swore off any of those activities for the entirety of your life (which probably didn’t happen) or you were so weirded out by the openness of your Mom, you wanted that image out of your mind for the rest of your life (which probably did happen). Now though, it appears the dreaded “talk” is back in season and this time, instead of having Mom … [Read more...] about Salem Estate Planning: Tables Turn – The Dreaded Talk, but Different Terms
New Hampshire Retirement Planning: The Impact of the Recent Supreme Court Ruling on Inherited Retirement Accounts
The Supreme Court has recently issued a ruling with major implications for inheritors of retirement accounts. In a unanimous decision rendered on June 12th, the U.S. Supreme Court ruled in Clark v. Rameker that an inherited retirement account cannot be exempted from an individual’s bankruptcy estate under the “retirement funds” exemption of 11 USC §522(b)(3)(C). It is well settled law and practice that 401Ks, IRAs and Roth IRAs (among other “qualified accounts”) are exempt under bankruptcy law … [Read more...] about New Hampshire Retirement Planning: The Impact of the Recent Supreme Court Ruling on Inherited Retirement Accounts
Free Report: Your Medicare Part B Costs in New Hampshire
Medicare Part B is actually broken down into two types of service coverage. One is reserved for medically necessary services, such as wheelchairs and other necessary supplies needed for health recovery. The second part covers those expenses and efforts associated with preventing illness and injury. Topics covered in this report iclude: Medicare Advantage PlansWhat Part B CoversWhat Medicare B Doesn't Cover Click here to read the whole article or download the PDF. … [Read more...] about Free Report: Your Medicare Part B Costs in New Hampshire
Nashua Estate Planning: 401(k) May Not be the Cure All
Some are blaming the recession and it looks like a great place to start, but for many Americans, that classic 401(k) is no longer the golden child in estate planning. When the recession kicked into overdrive in 2008, many recall watching in horror as the indexes tumbled. The S&P alone lost a massive 37 percent that year. Translated, Americans with 401(k)s lost their assets, not to mention their faith in these financial planning vehicles. Before then, you’d be hard pressed to find anyone … [Read more...] about Nashua Estate Planning: 401(k) May Not be the Cure All
Differences in Medicaid and Medicare
If you’ve ever asked a question that generates a lot of non-answers, you know the frustration that comes with it. One question that’s asked often is, “What are the differences in Medicaid and Medicare?” The most common answer is that Medicare is a health insurance program handled on the federal level while Medicaid is a medical assistance program that also is supported by individual states. But there’s more to that. This week, we explore those differences in Medicaid and Medicare with the goal … [Read more...] about Differences in Medicaid and Medicare
