Tag: IRA

We Want to Draft Your Legacy

What Is the Best Way to Leave Money to Children?

June 13, 2022
Providing for future generations shouldn’t be (overly) taxing. To manage taxes as you pass down your assets, look into UTMAs, 529s, child IRAs and trusts.
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Senior Second Marriage and Estate Planning

June 3, 2022
More Americans are now getting married over the age of 65 than ever before. Even though this may be a second or third marriage for many, caregivers should nevertheless be aware of certain aspects that shouldn’t be ignored amidst all the wedding plans and celebrations.
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Does Power of Attorney Perform the Same Way in Every State?

May 23, 2022
A power of attorney is an estate planning legal document signed by a person, referred to as the “principal,” who grants all or part of their decision-making power to another person, who is known as the “agent.” Power of attorney laws vary by state, making it crucial to work with an estate planning attorney who is experienced in the law of the principal’s state of residence.
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Should I Have a Roth IRA?

May 16, 2022
Roth individual retirement accounts allow you to pay income tax on your retirement savings upfront, so you won't be stuck with a tax bill in retirement when you can least afford to pay it.
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What are the New IRA Distribution Rules?

April 21, 2022
The Internal Revenue Service (IRS) recently issued much anticipated proposed regulations that clarify and revise some of the required minimum distribution (RMD) rules for qualified plans (i.e., 401ks, 403bs, etc.) and individual retirement accounts (IRAs).
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Is a Bypass Trust Necessary?

March 17, 2022
The rise in the stock market over the past several years, teamed with the passage of the SECURE Act two years ago—as well as the scheduled 50% reduction in the size of the federal estate tax exemption four years from now—has resulted in a renewed interest in estate planning for IRA and 401(k) accounts owned by married couples.
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How to Avoid Giving Estate to Your Ex

February 10, 2022
State laws generally make it so that once a married couple is divorced, ex-spouses lose all property rights.
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What Planning Should I Do in My 50s?

January 20, 2022
If you are one of the many people who start getting serious about their finances as they reach their 50s, enjoy this guide for your next steps.
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Can I Use a Roth IRA in Estate Planning?

January 3, 2022
Roth IRAs and Roth IRA conversions have received a lot of press recently. Between the various tax proposals that have been floating around Congress and normal year-end tax planning strategies, Roth IRAs are a popular topic.
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How Do You File Taxes If Your Spouse Dies?

November 23, 2021
About 1.5 million Americans become widows and widowers in a normal year, but the pandemic has boosted that significantly. The National Center for Family and Marriage Research at Bowling Green State University estimates that about 380,000 of more than 700,000 people in the U.S. who have died from Covid were married.
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