Many questions arise when we consider the options for giving to children. Why should we give? When, what and how should we give? Will gifts impact the self-esteem and initiative of the child? Can a gift plan transfer values to children?

These are all very important questions. Clearly there are better ways to give and a prudent parent will consider carefully the manner, nature and amount of gifts. If the gifts are given in a proper way, they can be very beneficial for the child. Alternatively, gifts given at the wrong time or in the wrong amounts can lessen the initiative and even weaken the character of the child. Thus, it is important to make gifts in the optimum manner at the right time.

Why Give to Children?

There are several reasons why you may choose to make gifts to children during life. Some parents wish to start the inheritance process. If they have substantial resources, it is desirable to begin the inheritance while the children are in their 30s, 40s and 50s. Many children can use the help at that time to start careers, purchase a home and assist in the cost of raising their own children.

Another reason for making gifts is to teach conservation. Most parents who have significant resources have been careful to conserve their assets and build them up during life. By making transfers of assets during life, the parents can see how the children handle those assets and, in turn, offer advice and encouragement. In addition, when the parents have the opportunity to see the effect of inheritance on children, it helps to clarify the parents' goals. Goals for inheritance should include the amount transferred during life, the time of transfer, the principal and income amounts and times for transfer of those items to family in the estate.

Starting the property transfer process during life enables parents to understand how to plan for the optimum inheritance for children.

When Should a Parent Start Giving?

There is both an easy answer and a difficult answer to this question. First, parents should start giving to children when they reach the "age of financial responsibility." But what is that age? Some children reach the "age of financial responsibility" at 25, while others might not attain that status at age 75.

Another factor that affects the "when to give" question is the resources of the parent. Many people in our society live to age 80, 90 or even older. The parents should make certain that they have sufficient assets to provide for long-term care, if that is needed. Some parents may wish to purchase long-term care insurance prior to making gifts to children. Alternatively, other parents of retirement age may determine that they have adequate resources to provide for their long-term care and can make gifts to family members. In making this determination, you will want to consider pensions, Social Security, IRAs and other assets.

If a parent determines that there are sufficient assets and that the children have reached an appropriate age (which in most cases is when children are in their 30s, 40s and 50s), then the parent may choose to start making gifts.

What Should I Give?

In the book The Millionaire Next Door, the authors studied the impact of gifts of cash to children in their 30s and 40s. The essence of their research was that, for most children, gifts of cash are typically spent.

Furthermore, with the exception of elementary school teachers and college professors, children in other professions who received cash gifts actually had less in savings by retirement age than those who received no gifts. Those who received cash gifts not only spent the gifts, but also continued to spend other personal cash and ended up with smaller estates than those who had received no gifts.

If parents are not concerned about whether or not the gift is spent, then the gift of cash is appropriate. However, many parents make gifts to children with the hope that the child will invest and build up some reserve assets. If the hope is that children will invest and begin to build their estates, then gifts of property show much more promise.

For example, many parents hold stock and can transfer shares by gift to the children. Alternatively, some parents hold real property or have created family limited partnerships and can transfer either the real property or the partnership units to children.

If the gifts are less than the annual exclusion amount per parent, per child each year ($17,000 in 2023 and potentially higher in future years), then the gift is not subject to gift tax. It should be noted that the child takes the cost basis of the parent when property is gifted. Thus, if the child were to sell the appreciated stock or land, he or she would have to pay a capital gains tax. Many parents actually consider this as a favorable circumstance, since their intention is for the child to hold the asset. If there is significant appreciation, these parents deem it beneficial since that potential gain could dissuade children from selling the asset, paying the capital gains tax and spending the money.

How much can be transferred using annual gift exclusions? There are cases in which appreciated stock gifts were held by family members and there was significant value transferred. After a ten-year period, the stock transferred with annual exclusions may be worth several hundred thousand dollars. In one case, the parents used gift exclusions over a period of 30 years and the children held the gifted stock. At the conclusion of that gifting program, the children were all multimillionaires—and all with zero gift or estate tax!

Should I Give Different Amounts?

Most parents will attempt to treat all children equally. From the perspective of the child, the gift is viewed as a representation of the love of the parent. Thus, it seems appropriate in most circumstances for there to be equal transfers to the children.

However, most rules have reasonable and logical exceptions. The two most common exceptions in this area are the special needs trust and a family business. If one child has a disability, the rest of the family understands the need for additional provision for that child through what is commonly called a special needs trust. This is a trust with an independent trustee who has discretion to make distributions to the child, but is not normally required to do so. The special needs trust makes provision for the maximum benefit of the child and could potentially allow some beneficiaries to also receive government benefits.

The other exception to equal treatment for children may occur with a family business. If some children are involved in the business and other children are not, it is desirable to provide a substantial inheritance for all children. However, maintaining business viability may require the transfer of a majority of the business interest to the child that is involved in the business.

In addition, many parents believe that transfer is fair because the efforts of the children in the business have contributed to the overall growth of the business and the overall growth of the parents' estate. These are delicate questions to which parents should give careful thought, but in the case of the special needs trust and the family business, it is common for one child to receive a greater benefit than the other children.

Will My Gift Decrease Motivation and Self-esteem?

This is a concern of all parents. If an estate is substantial, it is a very important issue to consider. Nearly everyone knows of cases where a large inheritance was transferred to an individual and it was spent in very unhealthy ways. Indeed, sometimes the size of the inheritance contributes to tearing down rather than building up the child's character.

Perhaps the best gift most parents and grandparents should consider is education, which can be used during an entire lifetime. Because one competes with other students in the class, a gift of tuition for education is a good character-building exercise.

A second excellent gift that may not involve significant financial resources is help with a career or business. Many businesspeople are able to assist their children in starting careers or businesses through advice and financing. These opportunities are excellent because the child then has the self-esteem derived from building a career or a business of his or her own.

Another strategy is to wait for a reasonable level of maturity. Some parents wait until the children are in their 40s or 50s to start gifting programs. At that time, values are more likely to be established for the children and they are able to make productive use of the property.

Why Don't My Children Think Like Me?

This question surely has crossed the mind of nearly all parents. A parent may consider a particular property or asset and say, "If I had that property, this is what I would do with it."

As all parents know, children quite often hold different opinions. They have generally not been tested in as many different circumstances as their parents. The children need "time to learn." When transferring an inheritance to children, parents need to remember that they have quite often acquired that property over 30 or 40 years. The parents had many opportunities to learn the value of thrift, conservation, investment and careful planning.

Children will not learn these principles from a ten-minute discussion with their parents. They will need to learn some of these lessons out in the real world, operating with real money and real property. It is inevitable that some children will make mistakes. However, their parents also made mistakes along the way. This is the educational part of the gift process.

Parents should be willing to provide "opportunity to make mistakes" property to their children. This does not necessarily mean that the property must have enormous value. However, there must be some value to the property. This "opportunity to make mistakes" property can best be gifted during life. After one or two such episodes, the children may suddenly have a greater understanding of some of the values held by the parents.

How Do I Support Charity and Transfer Values to Children?

One goal of parents is to teach values to children. We all hope that our children will be honest, loving, loyal, faithful, true and upright. How do you teach those values? First, values are caught and not taught. Fortunately, many parents have shared the lesson of the importance of family and extended family with the children. The family includes children and, in some cases, nephew, nieces and other relatives. The extended family includes the wider group of individuals who are helped by charities that the parents support.

One especially effective way to teach the principle of helping others is to model that behavior through support of charities that benefit the extended family. Children realize that they are here on this planet not just to acquire the best homes, fastest cars and most exotic vacations, but also to find a sense of purpose and value through assisting others. The extended family example of the parents is one of the best lessons that encourage children to acquire values similar to those of the parents. This lesson is taught during life both through contribution of time and gifts of cash and property to charity.

In addition, a very effective teaching method is to use planned giving concepts. These planned giving opportunities can provide benefits for children and a remainder to charity. In using these gift plans, the parent teaches the child to consider both the family and the extended family in planning. If major benefit for the extended family can be realized through tax savings, this becomes a particularly powerful lesson.

Gifts to children during life can accomplish many goals and objectives. Parents need to give careful thought to the children's needs and opportunities. If your assets permit, you may have the ability to give children "time to learn," provide them the "opportunity-to-make-mistakes" property and to facilitate the transfer of values. Truly, these objectives make giving during life an important part of your efforts to "help the child become a better person."

Could you recommend some healthy meal delivery options for seniors who do not cook or go out often? My 80-year-old parent is interested in options that offer convenient home delivery at affordable prices.

There are a wide variety of healthy meal delivery options that can help non-cooking seniors who live at home. Here are several top options.

Community-Based Programs

Start by checking if there is a senior home delivery meal program available in your parent's area. Meals on Wheels is the largest program that most people are familiar with. Many communities offer senior meal delivery programs sponsored by other organizations.

To find services available in your parent's area, do an online search or call the area aging agency near your parent. You may utilize the Eldercare Locator, a public service of the U.S. administration on Aging at 800-677-1116 to get the local number.

Meal programs across the U.S. deliver hot meals daily or several times a week and are available to qualifying seniors over age 60 who have problems preparing meals for themselves, as well as those with disabilities. Weekend meals, usually frozen, may also be available for delivery. Some programs will also provide specialty meals for those with specific dietary needs (diabetic, low-sodium, kosher, and more).

Most of these programs typically charge a small fee or request a donation. Others may be free to low-income seniors who qualify for Medicaid. There are also some Medicare Advantage plans that cover limited meal service benefits.

Meal Delivery Service Companies

Another great option is to order pre-made meals online from a meal delivery service company. These companies provide a wide variety of tasty meal choices and will usually post the nutrition information for their meals on their website. For more information on these companies, pricing and their menus, search online using keywords such as "best meal delivery services for seniors."

Most companies will also cater to a host of dietary and medical needs, such as low-sodium and low-carb meals, diabetic meals, gluten-free, dairy-free, and vegetarian options, making the ordering process easy and convenient.

Depending on the company you choose, the food arrives either fresh or frozen and most of them deliver across the nation. Prices vary, but generally start at around $8 and can be as much as $13 per meal, plus shipping. However, some companies may provide discounts or free shipping when you order meals in bulk. Most of these companies will also work with Medicaid and some Medicare Advantage plans to help reduce costs.

Grocery Stores and Restaurants

Depending on where your parent lives, home delivered meals from local grocery stores or restaurants may be possible. These options will likely be more expensive and will be wholly out of pocket. Some grocery stores offer a selection of pre-cooked meals and foods, including roasted chicken, mashed potatoes, fresh soups and salads. Contact the grocery stores in your parent's area to learn more about this option.

If your parent has a favorite restaurant, check with the restaurants to see if they offer home delivery. Alternatively, your parent can download a food delivery service app onto their smartphone to order meals from local restaurants that may not offer home delivery.

Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of "The Savvy Living" book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization's official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070.

Can you recommend organizations or websites for finding interesting volunteer opportunities? I have been doing volunteer work since I retired last year, but most of the volunteer work I have tried has not been very fun or satisfying.

For many retirees, finding a volunteer opportunity that meets your interests, utilizes your talents and fits your availability can be challenging. To help you find interesting and satisfying volunteer opportunities, here are some tips and online tools that can help your search.

Getting Started

Volunteering is a great way for retirees to make a positive contribution to their community, stay actively engaged and maintain a healthy lifestyle. But how can you find the right opportunity for you?

Start by asking yourself some basic questions like: What types of organizations or activities are you interested in? What kind of skills can you offer to a volunteer organization? How much time are you willing to give? What do you want to gain from your experience (i.e., meet new people, learn new skills, help those in need, exposure to a particular issue)? Once you get a general idea of the volunteer work you would like to do, there are dozens of volunteer websites that can help you search for different opportunities locally or virtually.

Most websites work like search engines. You can narrow your search by choosing an area of interest and your location. The websites will give you a list of opportunities to review and a brief description of the role. Prior to choosing a website, it is important to thoroughly review and research the volunteer website to ensure legitimacy before committing to any volunteer positions.

General volunteer websites: General volunteer websites allow you to explore a wide range of volunteer opportunities in your local community. Volunteer opportunities found on these websites can serve diverse causes relating to children, animals, seniors, education, health, the arts and more. These websites can be found through a simple online search.

Retired volunteer websites: There are also websites designed specifically for retired individuals. If you are interested in opportunities for retirees, a good option is AmeriCorps Seniors (AmeriCorps.gov/serve/americorps-seniors), which matches retirees with community projects and organizations that need experienced volunteer help.

AmeriCorps Seniors offers three different programs. RSVP has a variety of volunteer activities with flexible time commitments. The Senior Companion Program brings together volunteers with homebound seniors who have difficulty with day-to-day living tasks. The Foster Grandparent Program matches volunteers with children in the community that have exceptional needs.

Niche volunteer websites: There are also websites to help you look for specific types of volunteer opportunities in your area. For example, to find natural and cultural volunteer opportunities in places like national and state parks, see Volunteer.gov. If you are interested in emergency preparedness and disaster response volunteer services, try Ready.gov. For longer-term volunteer opportunities check out AmeriCorps.gov which offers three-month to two-year programs in the U.S. and abroad.

Professional volunteer websites: If you have expertise in areas like business planning and development, marketing, communications, finance, fundraising, web and graphic design or writing and editing, there are online platforms that can connect you with organizations in need of your skills. Alternatively, you can help entrepreneurs and small business owners through specific volunteer mentoring programs. Use search engines to look for these websites utilizing keywords like "professional volunteer opportunities".

Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of "The Savvy Living" book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization's official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070.

Artificial intelligence (AI) is advancing rapidly and will have dramatic effects on society. While AI has potential benefits in many areas including healthcare and education, there are also potential drawbacks. Haywood Talcove, chief executive of a major cybersecurity organization, cautions seniors that new AI capabilities are being used for romance scams, ransom efforts and IRS or government collection scams.

Talcove stated, "You have all of these people building this technology for good and they are working really, really hard. And you have another group working equally hard at applying their craft on the bad side." The bad actors use AI to enhance their scams and victimize seniors. Many scams have taken millions of dollars from seniors who did not protect themselves from romance scams, requests for ransom or false claims that they owe payments to the IRS.

1. Romance Scams — The new AI capabilities enable a scammer to create a visual image that appears to be real. The scammer can also craft a voice designed to appeal to a specific victim. The lifelike image and voice will encourage the victim to go on video dates. After the visual image and false voice have built a relationship with the victim, there will be the inevitable request for money.
2. Ransom Attacks — A fraudster can use a short recording to build a realistic duplicate of that voice. Many individuals have short videos with their voice on various social media outlets. The scammer may use the voice of a child, grandchild or other family member and create a conversation using their voice. Most individuals cannot tell that this is not their actual relative. The voice will claim that the relative is in serious trouble and must receive immediate funds to be rescued.
3. IRS Collection Letters — While many scammers have been using both letters and phone calls to impersonate the IRS and fraudulently collect funds, the AI capabilities greatly enhance the power of the letters. Many current AI systems can generate very realistic letters. While previous scammer letters often had typographical or grammatical errors that allowed them to be easily identified, the AI-enhanced letters look very realistic. Talcove stated, "It is very, very hard to tell. It is going to take a while for people to become aware of something like ChatGPT." Talcove warns seniors not to send money to anyone who you have not met in person.

It is important to understand the best ways to protect yourself. Lori Mars, Deputy Director of the National Center on Elder Abuse notes, "Older people are definitely targeted. The overall concept is that everyone is vulnerable. But with age can come mild cognitive impairment that is associated with poor financial decision making, as well as social isolation and loneliness."

While most financial abuse of elders is not reported, AARP estimates that individuals over age 60 lose more than $28 billion per year through elder exploitation. Approximately three-fourths of that loss is caused by an individual personally known to the senior but the other types of scams may involve up to $8 billion per year.

There are several practical tips for protecting yourself. If you receive a ransom phone call from someone claiming to be a relative, ask for specific identifying marks on their person or a special family password. Note that the IRS or other government agencies do not request payments through phone calls or email.

An excellent protection method is for a senior to have a trusted family member who will co-manage his or her accounts. If the senior is contacted by an individual requesting funds, he or she may then discuss the request with the family member. This is an excellent way to protect a senior person.

Finally, seniors are urged to have their Social Security or government checks directly deposited in bank accounts. They should not give any personal information over the phone to an unknown person. If a request for funds is made, ask the individual to send you a written request.

My 63-year-old spouse, who does not work, is on a health insurance plan through my employer. I will retire next month and go on Medicare. What are the options for getting health insurance for my spouse before they turn 65? Is there any Medicare coverage for dependent spouses?

Unfortunately, Medicare does not provide family coverage to younger spouses or dependent children when the older spouse qualifies for Medicare. No one is eligible for Medicare benefits before age 65 unless they are eligible due to a specified disability. With that said, here are some options for obtaining health coverage for your spouse.

Affordable Care Act: One option is to purchase an individual health insurance policy for your spouse through the Affordable Care Act (ACA) Health Insurance Marketplace. The Marketplace offers comprehensive health coverage and will not deny coverage or charge extra for preexisting health conditions.

The American Rescue Plan and Inflation Reduction Act enhanced premium subsidies for Marketplace plans through 2025. If your income falls below 400% of the poverty level after you retire – below $73,240 for a couple or $54,360 for a single person in 2023 – your spouse will be eligible for a tax credit that will reduce the amount you pay for the policy. The Marketplace also ensures that households with incomes above 400% of the poverty level will not have to pay more than 8.5% of their income for a benchmark policy.

To calculate your estimated subsidy, search online for a "health insurance marketplace calculator" and enter your family's information. To shop for Marketplace plans in your state, visit HealthCare.gov or call 800-318-2596. If you want extra help, you can search the online directory at HealthCare.gov/find-assistance to locate an agent or broker in your area.

COBRA: Another option is the Consolidated Omnibus Budget Reconciliation Act (COBRA) which is a federal law that would allow your spouse to remain with your employer's insurance plan for at least 18 months after you make the transition to Medicare. If the older spouse becomes eligible for Medicare and leaves their employer within 18 months of eligibility, COBRA coverage can continue for up to a maximum of 36 months. Not every employer plan is COBRA eligible. Contact your employer's plan administrator to find out if COBRA applies to your plan.

You should be aware that COBRA can be expensive because it requires you to pay the full monthly premium yourselves. But, if you have already met or nearly met your employer's plan deductible or out-of-pocket maximum for the year and do not want your spouse to start over with a new plan, it may make financial sense to keep your spouse's current coverage under COBRA. Even if your spouse is eligible to elect COBRA coverage, you should compare premiums from the Marketplace and those through a private insurer to see what is most affordable.

Short-Term Health Insurance: If you cannot find an affordable Marketplace plan and COBRA is too expensive, the next option is short-term health insurance. These plans are more affordable no-frills plans that provide coverage for up to 12 months and may be renewed for up to three years in some states. Be aware that short-term plans are not available in every state and do not comply with the ACA protections. They can deny sick people coverage, refuse to cover preexisting conditions and can exclude coverage essentials like prescription drugs.

Healthcare Sharing Ministries: One other coverage option you should know about is healthcare sharing ministries (HCSMs). These are cost-sharing health plans in which members – who typically share ethical or religious beliefs – make monthly payments to cover the expenses of other members including themselves.

HCSMs are less expensive than paying full out-of-pocket costs for traditional health insurance but are not health insurance companies. They do not have to comply with the consumer protections of the ACA. They also may reject or limit coverage for pre-existing health issues and often limit how much you will be reimbursed for your medical costs.

Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of "The Savvy Living" book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization's official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070.

Can you recommend some good over-the-counter hearing aids for individuals on a budget? I am not sure what to get or where to buy them.

The new FDA approved over-the-counter (OTC) hearing aids have become a very attractive alternative to millions of older Americans with hearing impairments. This new category of hearing aids went into effect in October of 2022.

These new hearing aids can be purchased at pharmacies, consumer electronics stores or online without requiring a hearing exam, prescription or appointment with an audiologist. The savings are significant, with the average cost of an OTC hearing aid at around $1,600 per pair, which is approximately $3,000 less than the average price of a prescription hearing aid.

Sorting through all the different options and styles of hearing aids can be time consuming and confusing. Here are some tips that can help you choose the right aid for you.

Check Your Hearing

Your first step to getting a hearing aid is to have your hearing tested. Be aware that OTC hearing aids are designed only for people with mild to moderate hearing loss. Common signs include trouble hearing speech in noisy places, in group settings and during phone calls.

The best place to get your hearing tested is through a hearing care provider such as an audiologist. These in-person tests are usually covered by private medical insurance. Medicare will cover general hearing evaluations every 12 months without a doctor's referral. You can also assess your hearing at home with a free app-based hearing test.

If your test results indicate that you have severe hearing loss (signs include being unable to hear spoken words even in a quiet room or trouble hearing loud music or power tools), then OTC aids are not the right solution for you. You will likely need a prescription hearing aid obtained through an audiologist or hearing instrument specialist.

Choosing an OTC Aid

If you decide that an OTC hearing aid may work for you, here are some suggestions to help you choose the best one for you.

OTC hearing aids come in two types: self-fitting and preset. Self-fitting aids typically use a smartphone app to set up and adjust the device to suit your specific hearing needs, which makes them better suited for individuals who are technologically inclined. Preset hearing aids are much simpler devices that come with a number of set programs for different levels of hearing loss and controls that are set directly on the hearing aid.

Additionally, because OTC hearing aids have a learning curve, it is very important to know the level of customer support you will have access to. Before you buy an OTC hearing aid, find out how long the company provides support after your purchase and the credentials or expertise held by customer service individuals.

You should also inquire about the company's return policy. It can take weeks to get accustomed to wearing hearing aids and figure out whether they are really working for you. Make sure to choose a brand that offers a minimum 30-day free trial period or money back return policy.

Best OTC Hearing Aids

To help you navigate through all the different options, the National Council on Aging (NCOA), which is a national nonprofit organization that advocates for older Americans, recently assembled a review team who collectively spent more than 5,000 hours researching, testing and interviewing customers about OTC hearing aids. To learn more, see NCOA.org/adviser/hearing-aids/best-otc-hearing-aids. If you want to see all the options available on the market, check out online options to help you compare features.

Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of "The Savvy Living" book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization's official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070.

What are the Social Security benefits for family members? What are the qualifications for eligibility?

Depending on your specific circumstances, you may be eligible for Social Security benefits as a spouse, child or a divorced spouse. Here is what you should know.

Who is Eligible?

Eligibility requirements for social security benefits vary based on the beneficiary's classification. A spouse beneficiary may be eligible if they are 62 years of age and receive retirement or disability benefits. Children who have parents that receive Social Security retirement, disability benefits, or have passed away may be eligible for Social Security benefits if the children are unmarried, under 18 years of age, between the ages 18 to 19 and a full-time student or if they are 18 years and older and are disabled from a disability that occurred before age 22. Eligible children include biological, adopted and stepchildren. A divorced spouse can collect Social Security retirement benefits based on their ex-spouse's earnings record if they are at least 62 years of age, were married to the ex-spouse for at least 10 years, are not remarried, are not eligible for a higher benefit based on their own earnings record and qualify for Social Security retirement or disability benefits.

Benefit Amount

For a current spouse, the amount will be determined based on the starting age of receiving benefits. For individuals between the ages 62 through full retirement age, the amount of benefits will be permanently reduced by 25/36 of 1% for each month before the full retirement age, up to 36 months of reduction. At full retirement age, the benefit cannot exceed one-half of the full retirement amount of the spouse.

Benefits paid to eligible children do not decrease the retirement benefit. The amount may be up to half of the parent's full retirement or disability benefit amount. The benefits will end when the child reaches age 18 unless there is an eligible disability. If the child is a full-time student, benefits will continue until the child graduates or two months after the child reaches age 19, whichever occurs first.

A divorced spouse can receive up to 50% of their former spouse's full Social Security benefit. The amount is less if they take benefits before their full retirement age, which is age 66 for people born in 1943-1954 and age 67 for people born in 1960 or later. To determine your full retirement age and approximate reduction for early retirement, see the Social Security retirement chart located on SSA.gov/benefits/retirement/planner/agereduction.html.

Please note that if you qualify for benefits based on your own work history, you will receive the larger of the two benefits. You cannot receive benefits based on both you and your ex-spouse's earning records.

You can learn more about your Social Security benefits by creating an account on the Social Security website and requesting a Social Security Statement. Visit SSA.gov/myaccount to create an account.

To apply for benefits, additional information may be required to apply as a spouse or ex-spouse. Visit SSA.gov/forms/ssa-2.html for more information.

Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of "The Savvy Living" book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization's official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070.

On May 25, 2023, the Internal Revenue Service (IRS) alerted businesses to be careful about new scams that focus on the Employee Retention Credit (ERC).

The IRS has been monitoring a "barrage of aggressive broadcast advertising" that seriously misrepresents and exaggerates the qualifications for the Employee Retention Credit. Due to the proliferation of ERC scams, the IRS is increasing its effort both in audits and criminal investigations.

IRS Commissioner Danny Werfel stated, "The aggressive marketing of the Employee Retention Credit continues preying on innocent businesses and others. Aggressive promoters present wildly misleading claims about this credit. They can pocket handsome fees while leaving those claiming the credit at risk of having the claims denied or facing scenarios where they need to repay the credit."

The IRS emphasized that the Employee Retention Credit is a legitimate taxpayer benefit. It was created to help businesses with employment challenges during the COVID-19 pandemic.

However, the ERC has been abused. Werfel continued, "This continual barrage of marketing by advertisers means many invalid claims are coming into the IRS, which also means it takes our hard-working employees longer to get to the legitimate Employee Retention Credits. The IRS understands the importance of these credits, and we appreciate the patience of businesses and tax professionals as we continue to work hard to get valid claims processed as quickly as possible while also protecting against fraud."

The IRS emphasizes the improper ERC credits may result in an obligation to pay back the IRS, potentially including penalties and interest. There are several signs to indicate that taxpayers should be wary of ERC promoters.

1. Unsolicited Calls — Promoters will send out millions of calls and advertisements claiming that the ERC is an "easy application process."

2. ERC Eligibility Within Minutes — The promoter claims he or she can determine eligibility in a few minutes.

3. Upfront Fees — Promoters require you to pay a large upfront fee before they are willing to submit your claim to the IRS.

4. Percentage of the Refund — If the promoter desires a percentage of the ERC amount, this is a red flag. You should not hire individuals who provide tax advice based on a percentage of a refund or credit received.

5. Aggressive Claims — Many promoters claim your business will qualify before a review of your tax situation. The truth is that the ERC is a complex credit that applies only to a limited group of businesses.

6. Nothing to Lose — The IRS considers the claim that there is nothing to lose as a "wildly aggressive suggestion" and discourages fraudulent claims for the ERC.

Taxpayers and businesses should be cautious because the promoters follow proven methods but omit requirements for eligibility. They engage in aggressive marketing, send out fake letters claiming to be from non-existent groups such as the "Department of Employee Retention Credit" and will leave out key details. One point to know is that the ERC cannot be claimed on wages that were reported as payroll costs for amounts forgiven under the Paycheck Protection Program.

The best protection is to work with a trusted tax professional. Your local CPA can determine qualification requirements and can file the appropriate tax forms with the IRS. The ERC is available for companies that suffered from a full or partial suspension of operations due to COVID-19 lockdowns during 2020 or the first three quarters of 2021. There is a requirement for a substantial decline in gross receipts. Any recovery startup businesses must have commenced operations during the 3rd or 4th quarter of 2021.

Editor's Note: The IRS advice to trust your local CPA is excellent. A local CPA will be familiar with your business and can determine whether you are qualified to file for the ERC. While Congress allocated billions in government funding in an effort to try to address record levels of unemployment, it is important to be certain you are properly qualified before filing for the ERC.

Can you recommend some solutions regarding nail trimming? My nails have gotten increasingly thicker over time and I struggle with using nail clippers.

Nail health can be an indicator of a person's overall health. If you have brittle, dull or discolored nails, you may want to speak with your primary care physician to rule out fungal infections or other systemic diseases.

Some Original Medicare Part B and Medicare Advantage Part C members have coverage for medically necessary nail trimming and certain foot care services. Routine foot care is covered by Medicare if you have an underlying condition or injury that requires a professional to tend to your feet. You should ask your primary care physician to review your situation and, if appropriate, certify that your nail care should be handled by a podiatrist or other healthcare professional.

It is important to have a regular maintenance routine to keep nails short and free from infections. Trimming nails is a task that can become very challenging. For many adults, nails can become thicker and harder to cut over time. Nail clippers can be difficult to use if you have arthritis or mobility issues. It may be hard to maneuver into the right position to cut toenails depending on your flexibility. Fortunately, there are solutions available that can help.

Nail Care Tips

One of the simplest tips for cutting nails is to soak your nails in warm water prior to cutting them. This can be done in a bath or shower. The water is a cost-effective solution to soften them for easier cutting.

There are also nail softening creams that temporarily soften the nails. Simply rub the softening cream into your nails both in the morning and at night to make them easier to cut and file. This not only makes trimming easier but reduces cracked and jagged edges and is safe for those with diabetes.

Most nails grow at a moderate rate, so it is recommended to cut them every six to eight weeks. If your nails grow quickly, you should adjust the schedule to keep your nails at a good length. When cutting nails, be cautious not to cut too far down. Overaggressive trimming and cutting nails too short can lead to ingrown nails and discomfort. Podiatrists typically recommend leaving a very small bit of nail (about 1/32 inch) past the nail bed when trimming.

You should also avoid a rounded cut. It is best to cut nails straight across, ensuring that the corners of the nail do not cut into the skin. After cutting, use a nail file to smooth the jagged edges and corners that can snag and potentially tear the nail as it grows.

Types of Clippers

There are several medical-grade and specialty clippers recommended by professionals for older adults. For thick nails, it is best to use a clipper with a sharp and curved blade to easily cut through. Additionally, it may be helpful to find a nail clipper with a cushion grip to allow for comfortable clipping.

For those with limited flexibility, there are nail clippers available with long plastic grips which are much larger than a standard set of nail clippers and a blade head that swivels 180 degrees. By providing more control and an extended range, these features enhance accessibility for anyone with arthritis or mobility issues.

Lastly, for those who have a hard time bending over, there are long handled toenail clippers that come in various lengths including 20, 24, 28 and 32 inches. There are also heavy-duty clippers available with a 1/8-inch-wide jaw opening designed to cut thicker nails.

All of these types of nail clippers are available through online retail websites at prices ranging between $10 and $50. Be sure to take necessary care when clipping your nails at home. You may want to clean the clippers with rubbing alcohol or other cleaning solutions between uses.

Nail Trimming Services

If you have diabetes, limited vision or other health issues, you should consider finding a podiatrist that can provide care. If your healthcare professional deems it medically necessary, this may be covered by your health plan.

If you are generally in good health, you may be comfortable finding a reputable nail salon that can meet your needs for nail grooming. To find a suitable nail salon, you may want to ask trusted friends or family members for recommendations, visit the salon in person and or read online reviews. A standard nail salon service will include soaking, nail and cuticle trimming, under nail cleaning and exfoliation. You should also ask about sanitation and sterilization procedures to ensure you feel comfortable with their processes. You may also be allowed to bring your own nail clippers and other items to the service appointment.

While tending your nails at home is the least expensive option, nail salons generally cost less than visiting a podiatrist. Whichever option you choose, regular trimming can help you avoid serious problems in the future.

Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of "The Savvy Living" book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization's official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070.