2
Getting Personal
Getting Personal
To view this content, Javascript must be enabled and Adobe Flash Player must be installed.
I want to close my one and only credit card because I don't want to pay their annual fee when there are other cards out there that don't charge such a fee. I have asked them to waive it or I would take my business elsewhere and their response was negative. Since I only want to have one credit card - which I pay in full, always - I would like to close this card and switch to a card without an annual fee. However, it seems that in the past I have heard in one of your programs that it is never a good idea to close a credit card. Is that true and if so why?
Thanks!
I want to gift $13,000 to my children this year in order to make use of the gift exclusion to reduce my future estate tax liability. Let's say that 20 years from now I live in a nursing home, run out of money, and need to apply for Medicade. I heard that the government can go back and claim those gifts from my children to pay for my nursing home expenses before Medicade kicks in. Is this true?
Thank you for answering my question.
Brian Davis
