Free Tax Filing Help Is Available to Seniors

Q.  I hear that the IRS may offer free tax preparation services.  Do you know anything about this? A.  Yes. The IRS offers free tax preparation software, fillable forms, and free taxpayer assistance, all available in an effort to make tax compliance easier, especially for seniors, those with a disability and those whose primary language… Read More »

Estate Planning for Surviving Spouses

Q.  I recently had to lay my wife to rest after almost 50 years together.  Our children keep saying that I should review our estate plan with an attorney to see if anything needs to be done and that all is in order. Do you have any suggestions as to things I should look for,… Read More »

Add Flexibility To Your Trust To Handle Change

Q.  My husband and I are concerned about how to keep our trust up to date in light of changing tax law and changing family circumstances.  What if we are too ill to make changes ourselves. Any thoughts on how we can handle these concerns?                                                 A. With the ever-changing tax landscape, and changes over time… Read More »

The Tax Consequences of Selling a Home After the Death of a Spouse

Q.  My husband died last year, and I am now considering selling our home and relocating to be closer to our daughter.  I am concerned, however, about the potential tax consequences when I sell. Can you provide any information on this point? A. Yes.  The biggest concern when selling property is capital gains taxes.  A capital… Read More »

Should We Sell Mom’s Home To Pay For Her Care?

Q. Our mother is in assisted living and may need to go into a nursing home soon. To raise money for her ongoing care, we are thinking of selling her home which is now vacant. Any thoughts as to whether that makes sense? A. Well, here’s the thing: selling mom’s home may undermine her ability… Read More »