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February 17, 2017
Why You Should Get Around to Drawing Up a Will
Having a will is important to ensure that your money and belongings are distributed according to your wishes after you die, said Sally Hurme, an elder-law attorney affiliated with AARP. “It determines how anything you own is going to be distributed to people you want to receive it, after your death,” she said. If you die without a will, your estate will be settled in accordance with state law. Details vary by state, but assets typically are distributed using a hierarchy of survivors. Assets go to first to a spouse, then to children, then your siblings, and so on. Read the full article at NYTimes.com.
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December 8, 2016
Love and Burnout: Caregivers, Too, Need Cure
Though caregiving can be a profound and moving journey, caregivers’ needs are often overlooked. The health care system is mainly focused on patients; caregivers who are slowly burning out can slip by unnoticed until it is too late. Read the full article at NYTimes.com.
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December 2, 2016
Maine Voices: Playing Both Sides of the Street When It Comes to Residency Can Lead to Tax Problems
With the passage of Question 2, imposing a 3 percent tax surcharge on taxable incomes over $200,000 effective for 2017, the number of people seeking to leave Maine will likely climb. Frequently, the go-to state is Florida, which has no personal income tax, no estate tax and much warmer winters. Other low- or no-income tax states, such as nearby New Hampshire, are also a strong draw. While people have the right to move from one state to another, it is extremely important that the change be made correctly and honestly. Failure to do so can lead to intrusive tax audits and large assessments of back taxes, including interest and penalties. Read the full article at www.pressherald.com.
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November 1, 2016
Even Math Teachers Are at a Loss to Understand Annuities
Annuities can be hard to fully grasp even in their simplest configuration, where you hand a pile of money to an insurance company, then receive a guaranteed stream of annual income for life. But schoolteachers and other people doing good works are often left to trudge through a morass of contracts tied to some of the most arcane investments, sold by representatives who may not fully understand the inner workings themselves. Read the full article at NYTimes.com.
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