Q: I just retired when I turned 66. I have been receiving Medicare Parts B and D, and my premiums are higher since I was making $225,000 a year at my job. This year I’m filing a joint return with my wife and only going to take out $100,000 from my IRA. Is there a way to get my Medicare premiums lowered now? – D.B., Altamonte Springs
A: Perhaps. If you have a qualifying life-changing event, you can fill out Form SSA-44 stating that your income has reduced. You can mail the form or walk it into your local Social Security office. If your adjusted gross income and tax-exempt interest combined are less than $170,000 for 2019, then your premiums will be reduced. -Tommy Lucas
Q: What is the best way to leave money to my grandkids to help them after they get out of college? - P.L., Sanford
A: Since you don’t know when you will pass away, you have to assume that could be now or much later. Given that the grandchildren are minors, you should consider a trust as part of your estate plan. I suggest you contact an estate planning attorney to discuss how best to include them. - Chris Toadvine
Have a question? E-mail firstname.lastname@example.org. Include your name (only your initials will be printed), hometown and phone. Questions are answered by Certified Financial Planners from the Financial Planning Association of Central Florida. Answers are for educational purposes only; you should also consult a financial professional. Questions and answers may be edited for space considerations.