What Happens when You Inherit a Retirement Account?

What Happens when You Inherit a Retirement Account

There’s almost always a reckoning when the government proffers a tax break. So it is with individual retirement accounts (IRA)s, 401(k)s, and similar accounts that investors fund with pre-tax earnings.

How Do I Handle Debt in Retirement?

How Do I Handle Debt in Retirement

Rising interest rates may be excellent for boosting savings accounts, but they’re unkind to credit card balances. Older Americans, especially those on a fixed budget, should beware.

Why Is It Important to have an Estate Plan?

Why Is It Important to have an Estate Plan

The new Federal Estate tax limit (above which Federal estate taxes will be payable) is $11,200,000.00 per person. Yes, most of us will not hit that limit, but 19 of the 50 states, Illinois included, impose an estate tax of their own ranging from .25% to almost 20% of your estate.

Why Does Everyone Need an Estate Plan?

Why Does Everyone Need an Estate Plan

Accidents happen. Illnesses can strike anyone unexpectedly. So, take a moment to get a few basic estate planning tasks out of the way. You—and the people you love—will be glad you did.