Takeaways Many older adults underestimate their likelihood of needing sustained, day-to-day care in their later years, and a significant portion of adults aged 50 and older are not adequately planning for long-term care. As Alice struggled to get up from her chair she remarked “I always got up and moved around without giving it a
The Internal Revenue Service (IRS) has released its tax inflation adjustment figures for tax year 2025. Annual Gift Tax Exclusion Effective January 1, 2025, you will be able to make individual gifts of up to $19,000 in the calendar year (an increase from $18,000 in 2024) tax-free. In other words, giving more than $19,000 to
Did you ever wonder what happens to most inheritances after they are received? An Ohio State University study determined that those who receive an inheritance spend half. One-third of those who received an inheritance spend it all within two years and end up with negative savings. Unfortunately, a typical inheritance does not provide sustained financial
