Currently, Social Security provides benefits to survivors, and certain disabled persons, as well as the elderly and helps keep almost 20% of all Americans older than 64 above the government-defined poverty line.
Signed into law on December 22, 2017, the Tax Cuts and Jobs Act of 2017 contained several provisions that affect the majority of Americans, especially seniors.
This article specifically addresses the Pros and Cons of accounts that are titled ‘Joint Tenant with Rights of Survivorship’, (JTWROS). An account, titled in two or more persons’ names that have rights of survivorship, is jointly owned by those individuals.
There is a common misconception that all real and personal property will pass through an individual’s estate upon his or her death. Though, some assets avoid the probate process altogether depending on how the property is titled.
Senior financial abuse is increasing every year. The abuse can come from family members, friends, care facilities, financial institutions and of course strangers.
