Should I Enroll in Medicare If I’m Still Working?
Many people keep working well beyond age 65–the age when most people become eligible for Medicare. If your employer offers health coverage, do you need to enroll in Medicare? What if the employer offers or does not offer prescription drug benefits? Most workers probably should enroll in Medicare Part A, which is free for most people and covers institutional care in hospitals and skilled...
Read MoreUnpublished Diaries and Copyright
Q. I’m writing a historical mystery set in World War I, and want to include portions of an unpublished soldier’s diary. Is the diary in the public domain? What are the rules? A. Public domain works are, simply, anything NOT protected by copyright. Such works may be used freely by anyone without permission from the author. The numerous changes Congress has made to the term of copyright...
Read MoreCan Life Insurance Affect Your Medicaid Eligibility?
In order to qualify for Medicaid, you can’t have more than $2,000 in assets (in most states). Many people forget about life insurance when calculating their assets, but depending on the type of life insurance and the value of the policy, it can count as an asset. Life insurance policies are usually either “term” life insurance or “whole” life insurance. If a...
Read MoreDo You Pay Capital Gains Taxes on Property You Inherit?
Nope. When you inherit property, such as a house or stocks, the property is usually worth more than it was when the original owner purchased it. If you were to sell the property, there could be huge capital gains taxes. Fortunately, when you inherit property, the property’s tax basis is “stepped up,” which means the basis would be the current value of the property. For example,...
Read MoreEstate Planning in the Age of Stepfamilies
More than 4 in 10 Americans have at least one step-relative in their family – either a stepparent, a step or half sibling or a stepchild — according to the Pew Research Center. The National Center for Family and Marriage Research estimates that about one-third of all weddings in America create stepfamilies. A recent trust case from North Dakota highlights the importance of taking current...
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