Dear Angel, I am 61 and considering whether to take my Social Security benefits next year or to wait. I am single and don’t have any children. Do you have any tips for someone in my situation? Thanks for your help! Earl Lee-Orwaite — Dear Earl, Many seniors wonder whether to take Social Security benefits […]
Will the Coronavirus Pandemic Affect Social Security?
Mike is 58 and hopes to retire from the government in seven years. His wife Diane will be 56 in the spring and plans to retire when Mike does. Similar to most people these days, they are staying at home and have had some time to think about their future and their retirement. Mike and […]
Can I Delay Enrollment of Medicare if I Have Not Yet Claimed Social Security?
Dear Oakley, I’m turning 65 and I have not yet claimed my Social Security benefits because I thought it would make good financial sense to wait. Can I choose to wait to enroll in Medicare as well? Thanks! Juana Waite — Dear Juana, Unfortunately, if you are turning 65, you cannot wait to enroll in […]
Top 19 Articles of 2019
Those who read our newsletter or follow our blog know that we covered a lot of ground in 2019. This past year, the Federal Tax Act increased the federal estate and gift tax exemption from $11.18 million dollars per person to $11.4 million dollars per person ($22.8 million dollars per couple). On the gift tax […]
2020 Key Elder Law Dollar Amounts
Every year we release the key dollar amounts that are frequently used in elder law, including Medicaid figures, Medicare premiums, Social Security Disability, and Supplemental Security Income. Since most of these figures have been released, we are happy to provide details on what has changed for the coming year. Be sure to check back here […]
Been the victim of a Social Security Scam? There’s a New Online Form for That!
Dear Magic, My mother was the victim of a Social Security scam. I told her she should report it, but whenever she tries, she is on hold for what seems like forever. Is there another way? Thanks, Ree Portit — Dear Ree, Social Security scams are the #1 type of fraud reported to the Federal […]
What Does the Future of Retirement Look Like?
Charles and Laura, both 67, recently retired and decided to relocate from Northern Virginia to the Shenandoah Valley. They enjoy the slower pace, quieter neighborhoods, and natural beauty of the serene mountains. Their monthly income includes total gross Social Security benefits of $2,082 ($1,786 after Medicare Parts A, B, and D deductions). Charles and Laura […]
Social Security Error Affects Medicare Coverage For 250,000 Seniors
James and his wife Elizabeth were surprised last month when they lost their Medicare drug coverage all of a sudden. They had the same drug plan since 2013 with no issues, which is why they were so taken aback when notified that their policies were canceled. When they first received the letter in the mail, […]
Why Am I No Longer Getting My Social Security Benefits Statement?
Dear Hayek, I used to receive a document in the mail from the Social Security Administration every year that explained my benefits. I haven’t seen one in a long-time. Is this something that they eliminated, and if so, how can I access this information? I am 56 years old and planning for early retirement. Thanks […]
Has Mom’s Social Security Number Been Suspended or Cancelled?
Dear Magic, The phone rings a lot at my mother’s house (she has quite the social life for a 90-year old woman!) One call she received the other day sounded official to her, she explained to me, but she couldn’t get to the phone in time. A person from the “Judiciary Department” left a message […]
Can I Have a Do-Over When it Comes to Social Security?
Q. I claimed Social Security benefits at 62, and I’m realizing that it’s too early. I am concerned that since I made the decision, I’m going to have to live with it. Will I be stuck with a reduced benefit for life, or can I change my mind? If I can change my mind about […]
Do You Need to Pay Taxes if You Are Only Collecting Social Security?
Q. My husband and I plan to retire when we turn 70 and hope to live the “American dream.” We have saved our whole life to be able to enjoy our summers up north and our winters in Florida. After decades of having Social Security payroll taxes withheld from our paychecks, we feel like we’ve […]
How Does the Tax Act Change Things for Seniors?
Dear Magic, I am working on my 2018 taxes now. I understand that the Tax Cuts and Jobs Act is in effect for this year’s taxes. How does this tax reform affect U.S. citizens ages 65 and older? Any financial credits still available for family caregivers? Thanks! Chan Jess—Dear Chan, The new tax laws are […]
Take Advantage of This Popular Social Security Claiming Strategy Before It Ends This Year
Fred is 68 and collecting Social Security. His wife Lisa will be 66 in the spring and plans to retire. To maximize her Social Security, Lisa is considering filing for spousal benefits at 66 and then delaying the filing for her benefits until her full retirement age of 70. She is wondering if this is […]
Can You Get Social Security Benefits if You Never Worked?
Dear Ernie and Jannette, I am a recent divorcee who is getting ready to drop my last kid off at college next year, which, in essence, means that I am retired. The thing is, as a lifelong homemaker who raised five children, I never worked a paying job in my life (unless you count a […]
Yikes! Our Top 10 Scariest Articles of 2018
Believe it or not, in Elder Law, Estate Planning, and Special Needs Planning, there are some news stories that sound more like the scary plots of horror movies than real life. The topics can be so horrifying that suddenly, you need to turn on all the lights just to read the news stories and do […]
2019 Key Elder Law Dollar Amounts
Every year we release the key dollar amounts that are frequently used in elder law, including Medicaid figures, long-term care insurance deductibility limits, Medicare premiums, Social Security Disability, and Supplemental Security Income. Since most of these figures have been released, we are happy to provide details on what has changed for the coming year. Be […]
What Older Voters are Focusing on in the Midterm Elections
Q. I’ve been voting since I was able to do so, which is more decades ago than I’d like to mention. After all, voting is a responsibility! I know that seniors like me care about a broad range of issues, not just those commonly associated with aging. Can you run through some of the issues […]
If You Collect Social Security, You’re Getting a “Raise!”
Q1. My husband and I rely on Social Security for about half of our monthly income. I heard that the cost-of-living adjustment announcement by the SSA is happening this week. Do you happen to know how the COLA is determined and how much they are raising it? Q2. Also, on the topic of Social Security, […]
How to Avoid Being a Victim of a Social Security Scam
Dear Ribbit, I heard that there has been an upsurge in Social Security scams lately. What are they about and how can I avoid them? Thanks! Lee Vameealone — Dear Lee, You are correct. The Social Security Administration (SSA) is warning about an upsurge in scams targeting Social Security recipients. In a common scam, someone calls […]