Smart Money, Made Simple Navigating Your Financial Future Doesn't Have to be a Headache If your parents’ portfolio is stuffed with bonds and yours is riding the crypto rollercoaster… guess who’s grinning like your awkward uncle Jimmy as he helps himself to another giant serving of mashed potatoes this Thanksgiving? The IRS. Why? Because when family portfolios don’t coordinate, you end up serving Uncle Sam the biggest slice of pie—while your own plate looks suspiciously light. Bless your...

Smart Money, Made Simple Navigating Your Financial Future Doesn't Have to be a Headache Hey there,Here’s something you don’t hear every day: long-term care costs can sometimes be tax-deductible. No, really! If you’re helping your parents with elder care, assisted living, or medical appointments, there’s a chance Uncle Sam might actually give you a little relief—if you know how to ask. What counts? Memory care In-home caregivers Assisted living (when it’s for medical need) Even mileage to...

Smart Money, Made Simple Navigating Your Financial Future Doesn't Have to be a Headache You don’t need a Rockefeller-sized yacht to need a trust. A regular ol’ family home will do the trick! If your parents own a house, have property out of state, or want to avoid turning their estate into a courtroom drama, a revocable living trust is a no-brainer. Here’s why: Without a trust or named beneficiary, assets titled solely in your parent’s name go through probate. With a trust? Assets pass...