Can Beneficiary Designations Be Challenged?
Retirement accounts fall into a category of assets that pass to heirs directly outside of the will and are not subject to probate. That is, if the paperwork is in order.
Should I Have a Roth IRA?
Roth individual retirement accounts allow you to pay income tax on your retirement savings upfront, so you won’t be stuck with a tax bill in retirement when you can least afford to pay it.
Do You Need an Estate Plan or Will?
Have you thought about how you’d like your family to continue after you’re gone? Having an estate plan isn’t just for the ultra-wealthy.
How Much can You Inherit and Not Pay Taxes?
Unless you spend your winters in Aspen and your summers in the Hamptons, you probably don’t have to worry about paying federal estate taxes on an inheritance. In 2021, the federal estate tax doesn’t kick in unless an estate exceeds $11.7 million.
Before They’re Gone—Estate Planning Strategies
If you have not already been inundated with invitations to webinars, articles and newsletters regarding the estate planning you should consider doing before new legislation passes, you undoubtedly will receive these over the next few months.
Should I Delay Filing for Social Security?
In a rush to file for Social Security benefits at age 62? Many people are, but slow down and do the math first – or you might regret it.
Estate Planning and Cryptocurrency
Digital assets have been around for quite some time. However, they seem to be dominating headlines again this year. In part, you can thank high-profile figures, such as Elon Musk, for promoting cryptocurrency, or music artist Grimes for selling $6 million in NFTs.
It Is Wise to Plan Carefully before Taking Out Retirement Funds
If you think saving for retirement is complicated, try figuring out how to withdraw retirement funds while minimizing taxes.
How Is Social Security COLA Calculated?
For the average recipient, the 2021 monthly increase doesn’t even cover a fill-up at the gas station — but it beats nothing.
Key Dates for Planning Retirement
Each type of retirement benefit has a different eligibility age. Your age plays a big role in how much you can expect to receive from Social Security and what you need to do to avoid retirement account penalties.
