Legal Resources

Free tax preparation help is available to seniors

Seniors and retirees should know that they may be able to use online tax preparation software free of charge. Most low- and middle-income Americans qualify for free help but do not take advantage of it, and all seniors, regardless of their income, are eligible for free counseling assistance from the Internal Revenue Service. The tax preparation software industry has had a decades-long deal with the IRS to make free versions of its software available to low-

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Turning 65? You may need sign up for Medicare Part B

If you are paying for your own insurance, you may not think you need to sign up for Medicare when you turn 65. However, not signing up for Medicare Part B right away can cost you down the road. You can first sign up for Medicare during your Initial Enrollment Period, which is the seven-month period that includes the three months before the month you become eligible (usually age 65), the month you are eligible and

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When inheriting real estate, consider your options

Inheriting real estate from your parents can be both a blessing and a burden. Figuring out what to do with the property can be overwhelming, so it is good to carefully think through all of your choices. There are three main options when you inherit real estate: move in, sell, or rent. Which one you choose will depend on your current living situation, whether or not you have siblings, the state of your finances, whether the

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How does the Coronavirus Relief Act affect seniors?

In addition to authorizing direct payments to most Americans, including seniors, the $2 trillion economic relief package that Congress passed to help Americans deal with the devastating financial impact of the coronavirus pandemic changes required retirement plan distributions for this year and includes Medicare-related provisions. Signed into law on March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act provided a one-time direct payment of $1,200 to individuals earning less than $75,000 per year

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Three changes you may want to make to your estate plan now

The unique aspects of the coronavirus pandemic may make it advisable to review your current estate plan. Language in estate planning documents that is fine under normal conditions may cause problems for you and your loved ones if you fall ill during the pandemic. Look over the following documents to see if they may need updating: Living will. A living will is a document that you can use to give instructions regarding treatment if you become terminally

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States may not terminate Medicaid benefits during coronavirus pandemic

Access to affordable medical care is especially important during a health crisis. One of the bills passed by Congress in response to the coronavirus pandemic increases Medicaid funding for states and includes a provision preventing states that accept the additional money from terminating Medicaid benefits while the current emergency continues. The Secretary of Health and Human Services has declared a nationwide public health emergency for COVID-19. In light of that, the Families First Coronavirus Response Act

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How to Build Your Emergency Fund – When You Have No Money

This year’s pandemic highlights the importance of having enough money set aside in an emergency fund to cover six to nine months of key expenses should you lose your job. But how do you build an emergency fund if you don’t have any extra money? The easiest way to accomplish this is by reducing your expenses. Here are some creative ways to increase your cash flow by cutting your spending. How much you need First, determine

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Generate Business Buzz With a Press Release

When crafting your business’s marketing strategy, don’t forget about developing a relationship with the press. Although newspapers and magazine circulation has drastically decreased over the past 20 years, the demand for content still exists via online platforms. Here are several suggestions for crafting a press release to tell your business’s story and how to best connect with local, regional or national reporters. Forget the hard sell. Think like a reporter with a deadline. Pitch a story,

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Don’t Make These Business Website Mistakes

Your company’s online presence leaves a lasting impression—positive or negative. When people check out your homepage, will they stick around? Will they buy? Will they return? Make your website easy to use and current, and new orders may be just a click away. Annoy visitors and they’ll flee to a competitor. Steer clear of the following website mistakes: Designing the website for you—not the customer. Studies have shown that online visitors form an opinion of a

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Switching Jobs? Here’s What To Do With Your 401(k).

Suppose you’re switching jobs if you were furloughed because of the pandemic or you’re simply searching for greener pastures. If you have a 401(k) from your soon-to-be former employer, you must decide what to do with your retirement account when you leave. Here are your four options: Leave the money in your previous employer’s pension plan. Roll over the money to your new employer’s pension plan. Roll over the money into an IRA. Take the money

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