Learn how the income exclusion rule categorizes certain incomes, like certain interest and child support, as tax-free, ...

There are many financial tools that seniors can leverage. Some build wealth or provide income, while others offer protection for heirs or ensure that end-of-life costs are covered. "Both are valuable ...

See the tax advantages and downsides.

As you age and your income sources become less robust, it's natural to look for ways to reduce expenses, not add to them. For seniors in today's economic climate, in which inflation and credit card ...

Most people purchase a life insurance policy so their loved ones are taken care of when they die. But what if you wanted to cash in on that policy while you’re still alive, to pay for necessities now?

Helping senior clients through estate planning requires a comprehensive strategy that includes consultations with their legal and tax advisors to ensure proper asset distribution, minimize tax ...

Employer-sponsored life insurance over $50K is taxed. The IRS considers excess coverage as imputed income. Imputed income appears on your W-2. The taxable portion of employer-provided life insurance ...

We independently evaluate all of our recommendations. If you click on links we provide, we may receive compensation. Myles is a former senior insurance editor for Investopedia. He oversaw the strategy ...