Q. What are the rules for an inherited Roth IRA? A. “It all depends on who the beneficiary is,” said Gary R. Botwinick, chair of the Taxation/Trusts & Estates department at Einhorn Barbarito, “because there are different rules for distributions when the beneficiary is a spouse or a child or a […]
“Young couples with student loan debt are failing to disclose the amount of student debt owed and failing to discuss how that debt will be paid (i.e., individual responsibility vs. joint obligation).” Couples ask each other a lot of questions, some about day-to-day life, some in an effort to get […]
Q. I have a question about what constitutes the hard limit of $100,000 of income for the retiree pension exclusion. If my wife and I have a combined income of $120,000 before deductions, but can legitimately deduct $28,000 due to large medical bills and health insurance premiums paid out of […]
Q. When Medicaid looks at assets, is a life insurance policy considered an asset? A. You must meet certain financial requirements in order to qualify for Medicaid. Life insurance is one of those assets that people often fail to realize needs to be part of the calculation, said Gary R. […]
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