How to Avoid Taxes on Social Security Benefits
Many people are surprised to learn that their Social Security benefits can be subject to federal taxation. Whether your benefits are taxed depends on what is known as your “provisional income.” This is your adjusted gross income (not counting Social Security benefits) plus nontaxable interest and half of your Social Security benefits. For people filing […]
Protecting Yourself Against the High Cost of Long-Term Care
Thanks to improvements in medical science and healthier lifestyles, Americans are living longer than ever before. Unfortunately, many of us will require long-term care at some point in our lives, and one in five of us will require long-term care for at least five years. According to Genworth Financial, the median cost of long-term […]
Your Legacy is More than Just the Money You Leave to family
Lynnwood/Edmonds Elder Law resources for Estate Planning, Long Term Care Planning, and Trusts. When we hear the word legacy, many of us think of money left to people and institutions that have come to mean the most to us throughout our lives. But your legacy is much more than that. It includes your memories, values, […]
Taking Care of your Elderly During Quarantine
One of the most heartfelt problems Covid-19 has caused is separation from family members. Unfortunately, the elderly have felt the strain of being on quarantine more than anyone. Seniors, cut off from the care of family, friends, and daily resources, are dealing with extended isolation. The problem with leaving seniors alone is that they have […]
The double whammy of long-term health care costs
Retirees have been hearing a steady drumbeat of warnings about the threat of high long-term health care expenses. Many articles about long-term care discuss strategies from the perspective of retirees who eventually might need care near the end of their lives. These articles encourage retirees to take responsible steps to pay and arrange for care, […]
