It would be easy to say “yes” to long-term care insurance if you didn’t have to come up with new money to pay for it, wouldn’t it? Well, there might just be a way to pull that off by repositioning money you already have. An important tax change was effective January 1, 2010* that has made it easier to combine long-term care insurance with either life insurance or annuities. This article shows three reasons why you might want to do that.
Publicity around the Supreme Court’s decision to nullify the Defense of Marriage Act on June 26, 2013 has centered around the ability to file joint tax returns and collect survivor social security benefits. My first reaction was “What about the ability to take advantage of the spousal impoverishment benefits under Medicaid?”