July 23, 2021 •
Estate Planning ![]()
First, before making a gift or bequest outright to your youngest son, consider whether now or in the future he will possibly be eligible for governmental assistance based on his disability and his own assets.
Read MoreJuly 22, 2021 •
Estate Planning 
It’s generally a bad idea to name a trust as beneficiary of your IRA. The IRA usually loses the power of tax deferral, because it must be distributed faster than in other scenarios.
Read MoreJuly 21, 2021 •
Estate Planning ![]()
College savings accounts, known as the 529 Plan, can be confusing. Parents know that they have tax incentives. However, what exactly are those benefits? Which investment options make the most sense? Which costs are covered, and which aren’t? Many parents don’t care if they have so many questions. Here are answers to frequently asked questions about the 529 plan to help get rid of some of the fog.
Read MoreJuly 20, 2021 •
Estate Planning ![]()
Experts often recommend postponing claiming Social Security. However, there are situations in which you should claim sooner.
Read MoreJuly 19, 2021 •
Estate Planning ![]()
Traditional IRAs have been available to retirement savers who have earned income since 1974. That’s 23 years longer than Roth IRAs (introduced in 1997) have been on the scene. The big difference between these two types of individual retirement savings vehicles is when you pay federal (and possibly state) income tax on your savings.
Read MoreJuly 16, 2021 •
Estate Planning ![]()
If you want loved ones to remember you fondly, tackle your estate planning tasks. Your heirs will thank you for not leaving a legal mess to sort out.
Read MoreJuly 15, 2021 •
Estate Planning ![]()
Whether you need to take required minimum distributions to live or find them to be a nuisance, here are some tips to make the most of withdrawing these funds.
Read MoreJuly 14, 2021 •
Estate Planning ![]()
I know of someone who was joint account holder with his dad for many years, then later his dad then appointed him as power of attorney. How does that work? Is the son still a joint account holder?
Read MoreJuly 13, 2021 •
Estate Planning ![]()
My boyfriend and I have lived together for 13 years but he is still officially married to another woman. He has a life insurance policy and I’m the beneficiary, and I’m also the beneficiary of his 401(k). Do we need a will and do I have to worry about his wife getting the money?
Read MoreJuly 12, 2021 •
Estate Planning ![]()
What happens if a non-spouse beneficiary inherits an IRA account but dies before the money is put in her name. There were no contingent beneficiaries. Which estate would get the IRA?
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