When a spouse enters a nursing home, the cost of care can be financially devasting. Many families are simply unable to afford long-term care, without applying for Medicaid. To qualify for Medicaid, there are limits on the resources that an applicant may have. Resources include both income and assets.
You’ve invested in a 401(k), made contributions for decades and finally are ready to withdraw–or take distributions, in retirement-plan speak. However, you now have to pay taxes on what you take out, effectively reducing your nest egg. What to do? Here are several ways to minimize taxes on withdrawals.
Lifting the burden now, will ensure your last wishes are carried out at the right price.
Families can get ripped apart permanently, because of problems with a close relative’s estate. Many problems are avoidable, by taking a few easy steps.
Despite strong efforts by scammers, it is still possible to stay safe.
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