Utilizing the SECURE and CARES Acts?
There have been several law changes that affect IRAs passed since December 2019.
June 24, 2020
Looking at tapping an Inherited IRA?
When a loved one dies, any leftover IRA funds they had, goes to whomever they labeled as beneficiaries. If you’re a beneficiary, you have to decide how you’re going to use it—a decision that’s a little more complicated this year than it normally is.
June 17, 2020
Do Beneficiaries of a Will Get Notified?
In most instances, a will is required to go through probate to prove its validity. Investopedia’s recent article entitled “When the Beneficiaries of a Will Are Notified” explains that there are exceptions to the requirement for probate, if the assets of the diseased are below a set dollar amount. This dollar amount depends on state…
June 2, 2020
Incorrect Beneficiary Designations are Trouble for Heirs
Most consumers are familiar with the beneficiary designation form they complete when opening an IRA or 401(k). The form designates who receives the asset, if the account owner dies. However, these forms can create confusion, unintended bequests and family turmoil, if not adequately monitored.
May 27, 2020
Taking Social Security benefits early
For many older adults, claiming Social Security early would be a big mistake. It was a mistake made by many older workers, who lost jobs in the Great Recession.
May 14, 2020
Coronavirus Stimulus allows Retirees to withdraw Money early
Lawmakers in Washington are making it easier for Americans struggling with the fallout from the coronavirus to draw on the trillions of dollars in their 401(k)s and other retirement accounts.
May 4, 2020
Blind Spots in Social Security
A majority of people don’t know the standard benefits they could be receiving, according to a SimplyWise survey that found less than one in eight Americans aged 60 to 70 saw themselves as “very knowledgeable” on the subject.
April 24, 2020
Update Your Plan to Protect Spouse and Children
Imagine you get married and within a year or two, your new spouse passes away. Now, imagine that your grief is compounded with financial stress.
April 22, 2020
Changes to RMDs from Stimulus Plan
Here are the highlights of the most recent tax changes found in the $2 trillion coronavirus relief bill, which the Senate has approved, and the House recently passed.
April 21, 2020
Beneficiary Designations Can Damage an Estate Plan
During the estate planning process, these beneficiary designations are reviewed to ensure that the beneficiaries are correct, and that the distribution of these assets conforms with the client’s intended estate plan.
March 26, 2020