July 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 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?
Read MoreJuly 9, 2021 •
Estate Planning ![]()
My sister passed away. Her only possession was her home, which still has a mortgage and she left it to my son and daughter, her niece and nephew. What inheritance tax will there be?
Read MoreJune 30, 2021 •
Estate Planning ![]()
As you prepare for your wedding, have open conversations with your soon-to-be spouse about your financial goals.
Read MoreJune 14, 2021 •
Estate Planning ![]()
The bill for long-term care adds up fast. The annual median cost for a private room in a nursing home was $105,850 in 2020, according to Genworth. The government could pick up these costs if you qualify for Medicaid, but that’s easier said than done.
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Claiming Social Security prior to full retirement age (which falls between 66 and 67, depending on your year of birth) means slashing your monthly benefits for life. However, in some cases, it does pay to file early.
Read MoreApril 30, 2021 •
Estate Planning ![]()
How can you prepare your children to handle the assets they’ll eventually inherit?
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