How Do IRAs and 401(k)s Fit into Estate Planning?
Investing for retirement is one of the most important steps you can take toward building a secure financial future for you and your family. The sooner you can start, the better. Contributing to a retirement account can help you work toward your goals and may provide tax advantages to boost your progress.
Is a Roth Conversion a Good Idea when the Market Is Down?
Soaring inflation, interest rate hikes, and the war in Ukraine have sparked ongoing stock market volatility. However, there may be a bright spot: the chance to save money on a Roth conversion.
Does Power of Attorney Perform the Same Way in Every State?
The law sometimes appears to contradict itself. Specifically, the words ‘anything and everything’ do not always legally mean ‘anything and everything’.
What Assets are Not Considered Part of an Estate?
In presentations regarding essential actions individuals should take regarding inheritance, emphasis is usually placed on drafting a will. This leaves unanswered what happens to assets that do not pass by will —so called non-probate assets.
Is Succession Planning Necessary for Family Business Entities?
While 88% of business owners believe their family will control their business in five years, statistics from Family Business Institute show that only 33% of businesses survive to transfer to the next generation, and only 10-15% continue to the third generation.
What are the Biggest Retirement Costs Often Overlooked?
Does your retirement budget account for all of these costs?
What Should I Know about Finances Before Getting Remarried?
You may want to consider some financial issues before walking down the aisle again.
What are Penalties When Contributing to or Withdrawing From Retirement Accounts?
Building and living off a nest egg is tough. However, you can make the situation even more difficult if you run afoul of some key laws governing retirement accounts.
What Can I Do Instead of a Stretch IRA?
Leaving behind a huge tax bill for your heirs with the stretch IRA scuttled? Here are some ways around it as lawmakers consider an updated SECURE Act.
Can I Split My Inheritance with My Sibling?
In order to give your brother half of the assets in the IRA, you will have to liquidate a portion of the account and pay the taxes on the liquidated amount if it’s a traditional IRA.
