Specialty Areas

Question 1

Military Benefits - direct payments

Answer 1

Department of Defense will only make direct payments to spouses of at least 10 years and 10 years of marriage overlapping a period of military service

Question 2

Payment cannot exceed 50 fo9r alimony

Answer 2

Can go as high as 65% for child support

Question 3

Married 20 years and 20 years of credible service and 20 years of overlap

Answer 3

Former spouses will retain all military benefits and privileges including medical, commissary, military exchanges

Question 4

Medicare

Answer 4

Part A: provides inpatient/hospital coverage
Part B: Provide outpatient/medical coverage
Part C: Offers an alternate way to receive your Medicare Benefits,m commonly referred as Medicare Advantage
Part D: provides prescription drug coverage

Question 5

ABLE Account

Answer 5

allows contributions for the care and support of an individual to be made to an investment account and accumulate tax-free. The individual for whom the account is established must be under 26 years of age and have medical costs and disability needs beyond the ability to pay

Question 6

ABLE Account

Answer 6

Contributions
Made with after tax income
Any one person is limited to contributing the annual gift amount
529 balances can be rolled over to ABLE
Balance
Limited to $300,000
Funds over $100,000 are considered income resources and can affect eligibility for other government programs
Limits
Individuals can only have one (1) ABLE account