As the calendar turned to 2023, many of us took a moment to think about resolutions. I want to lose 10 pounds. I want to read things that aren’t just about work. I want to learn how to play pickleball. Or maybe this year I’ll give a relationship another shot. Maybe I’ll even remarry.
In the dark of the night, snuggled within the 4,000+ page Omnibus Bill meant to keep the machine of government well-oiled, lies a passage that may change the future of retirement saving.
One of the essential steps in the probate process is filing an inventory of all the assets that are part of the estate.
There’s almost always a reckoning when the government proffers a tax break. So it is with individual retirement accounts (IRA)s, 401(k)s and similar accounts that investors fund with pre-tax earnings.
Here are five critical mistakes to avoid when dealing with your beneficiary designations.
There are good reasons why people want their estates to avoid probate, and a lot of ways to do it.
Once more hesitant to plan ahead, clients in today’s environment are much more proactive and willing to take action in the near term, rather than waiting and risking having to pay higher taxes down the line.
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.
However, if you are retired and no longer generating employment income, you should make sure you weigh the financial implications of any potential move.
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.
