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Two of the most notable changes of the SECURE Act were the elimination of the "stretch" provision for non-eligible beneficiaries and the creation of the 10-year rule.
Suffice it to say there are ample estate planning techniques to help reduce your gross estate amount before death. Portability can play an important role in your estate planning.
Any health diagnosis is typically unexpected and can turn our world upside down. Understanding the financial impact can alleviate anxiety and allow you to focus your energy on the days ahead.
When it comes to tax law and estate planning regulations, Congress is, if nothing else, unpredictable. While the Build Back Better bill appears to be dead in its current state, another bill will soon follow, offering up its own set of planning challenges.
The Qualified Personal Residence Trust provides an opportunity to remove your residence or vacation home from your estate. It may be the perfect strategy for you and worthy of a conversation with your attorney or financial planner.
Creating a thorough inventory of financial items and documents will take some time, but just as businesses have succession plans in the event leaders cannot serve, families must also take a similar approach.
Leaving a legacy through charitable giving is a financial goal for many. Unsure where to start or how to most efficiently donate to the causes closest to your heart? Read on for several options for gifting money to your favorite charities.
When it comes to estate planning, current policies have never been more favorable than today. Everyone’s goals and intentions for wealth transfer are different, so customizing a strategy that fits your needs is the most important first step.
Do not put your financial plan on the shelf and carry-on as usual. It's essential that you engage a qualified wealth advisor to help develop your financial plan.
The SECURE Act has eliminated the option of "stretching" distributions of an inherited IRA over the beneficiary's lifetime. If you have named a trust as a beneficiary of your IRA, it may be time to review, rethink, and revise.
Is Thanksgiving the right time of year to make a family financial gameplan? From aging parents to financial power of attorney, here's why you should spend this Turkey Day having some honest conversations with your family.
Becoming the trustee of a trust or choosing a trustee for your trust is not a decision that should be taken lightly. There are many traits you should be looking for and responsibilities you should be aware of before committing to choose or become a trustee. We’ve broken down the responsibilities, as well as what qualities a trustee should possess to help make the process a bit easier for you.
Many think of trusts as estate planning tools that only apply to high-net-worth individuals, but in reality a trust can be helpful for anyone with estate management and distribution goals. Unsure if a trust would be beneficial in your situation? We’ve outlined the basics of trusts and their benefits for you.
As your child heads off to college, you might feel a bit of relief knowing that your job is done...at least for a few months. But if you don’t have legal medical documents in place for your child, your job just became much harder should your student be hurt or incapacitated while away from home. Read on for our advice on documents it makes sense to have in place so you can make healthcare decisions for your child should he/she be unable to.
Heart disease, cancer, arthritis, and diabetes are all examples of chronic illnesses. One out of every two Americans has some type of a chronic condition. While this can be a physical and mental challenge, it can also have a financial impact.
This Valentine’s Day, switch it up and give the gift of financial security. Read our tips for the best Valentine’s Day gift.
Concerned about your elderly parent’s safety or ability to make sound decisions? It might be time to consider becoming a legal guardian for your parent. We’ve laid out the basics of legal guardianship and what the process might entail for you.
What happens if you die without a will in place? Who decides where your assets go, and more importantly, who cares for your children? Without a will, these decisions are left up to the state…and you might not like their choices. Drafting a will enables you to clearly articulate your wishes for the disposition of your estate, as well as the care of your children, ensuring your final wishes are carried out. Read on for our tips on creating your will.
To many, pets are members of the family. But who will care for them when we’re gone? Including your pets in your estate plan can solve this dilemma.
Chances are planning your own funeral probably isn’t high on your list of things you’d like to do. But taking the time now to plan how you would like your life to be celebrated can be a wonderful gift for your family and friends, removing undue stress from them during an already emotional time.
Unless you have a crystal ball, it’s hard to predict what tax changes might be coming our way in 2018. But there are several strategies you can implement before December 31st that could better position you to take advantage of the 2018 changes.
You’ve executed a last will and testament and created a plan for divvying up your assets when you pass. You’re covered, right? Not ...
What’s your reaction to the words “prenuptial agreement” or “prenup?” I’m betting “romantic” ...
What happens to your Facebook account when you die? Or, your beloved iTunes music library? Your estate plan provides for the management and ...
If you are one of the 64% of Americans who do not have a will, you are in the good company of Aretha Franklin and Prince as well as Sonny Bono, Martin Luther King, Jr., and Abraham Lincoln. Unfortunately, dying without a will can create a mess for your heirs.
Americans age 65 and older have more than a 70% chance of needing some form of long-term care. Aging at home as well as residing in an assisted living facility or retirement community are all options.
When was the last time you updated, or even thought about, the beneficiary designations listed on your retirement accounts, life insurance, or annuity contracts? If you don’t remember, it’s definitely time to review!
There is nothing better than celebrating the birth of a new baby. If it is the first baby, there are many “first time” experiences to be enjoyed as well as some “first time” decisions to be made. Naming a guardian is one of those.