ElderLaw News June 2010
- Make Sure Your Life Insurance Is Not Taxed at Your Death
- Investigative Report Questions Five-Star Rating System for Nursing Homes
- Book Review: The Savage Number: How Much Money Do You Need to Retire?
- How Risky Is Buying a Limited-Duration Long-Term Care Insurance Policy?
- Getting Social Security While Living Overseas
To Clients, Colleagues, and Friends:
PLEASE NOTE: THIS JUNE NEWSLETTER IS BEING RESENT DUE TO A PROBLEM WITH THE WEBSITE LINKS.
Although your life insurance policy may pass to your heirs income tax-free, it can affect your estate tax. If you are the owner of the insurance policy, it will become a part of your taxable estate when you die. You should make sure your policy won’t have an impact on your estate’s tax liability.
How reliable are the ratings given nursing homes under the five-star rating system that the federal government recently instituted? Not very, according to an investigative report by a Massachusetts magazine.
A prominent personal finance expert helps you find your magic number: how much you need in order to retire.
More consumers are buying shorter-duration policies as a way to keep the cost of long-term care insurance affordable. For example, in 2009 almost one-third of individual buyers purchased a three-year benefit period policy, according to an industry trade group. But is that sufficient coverage or is the policyholder likely to run out of benefit dollars?
Retirees who decide to move to another country are still entitled to Social Security benefits. Once a retiree has been outside the country for 30 days in a row, he or she is considered outside the United States and the rules for collecting benefits apply.