The US Supreme Court heard arguments in a case involving a 94-year-old woman who lost her home over unpaid property taxes. While the woman, Geraldine Tyler, does not dispute that Hennepin County had the right to foreclose on the $40,000 property, she argued that the county had violated the Constitution’s takings clause by keeping the $25,000 left over after the property was sold.
Annuities were once simpler financial instruments than they are today. Issued by insurance companies, annuities offered savers a guaranteed interest that compounded tax free until the funds were needed at a later date. Now, they are highly complex financial instruments with a variety of features, interest options, charges, and penalties.… Read the rest
According to research from the AARP, a clear majority of people would like to stay in their own home as they age – even if they require day-to-day assistance with activities of daily living. With a rapidly increasing senior population, demand for quality in-home care is beginning to skyrocket.… Read the rest
If you are one of the millions of procrastinating filers whose 2018 federal income tax return is due today and you happen to be over 65, you may welcome a new tax form being introduced by the IRS for 2019.
The new Form 1040-SR should allow seniors to file taxes without benefit of an accountant.A… Read the rest
At some point in our lives we may ask ourselves: “If I die and have debt, who or what will be responsible for paying back those I owe?”
One survey from Experian found that 73% of Americans are likely to die with debt.… Read the rest