estate plan

Smart Financial Moves in Your 40s and 50s


These crucial years call for action. Today, retirement may seem nearer to you than it once did. The following moves might be worth making—and soon. Catch-up contributions to your retirement accounts. Starting in the year you turn 50, you may make a total of $1,000 in catch-up contributions to your IRAs each year [...]

Smart Financial Moves in Your 40s and 50s2018-03-19T15:55:48-07:00

Six Questions to Ask Older Parents


Regardless of whether you and your parents have always talked freely about money or never discuss the subject, there are several considerations you may want to address with them as they approach their later years. The six questions below can help you to start thinking about and planning for that conversation. What's the best way [...]

Six Questions to Ask Older Parents2016-12-14T17:05:21-08:00

Balancing Your Estate Plan With Bypass Trusts


For decades, the bypass trust was a popular estate planning tool for wealthy couples who wished to take full advantage of the federal estate tax exemption and bequeath more of their wealth to successive generations. However, recent changes to estate tax laws have made bypass trusts unnecessary for many. Individuals may now exempt $5.43 million [...]

Balancing Your Estate Plan With Bypass Trusts2016-12-14T17:05:22-08:00

What’s the Best Way to Give Money to Children and Grandchildren?


In 2014, the IRS allows you to give up to $14,000 annually (or $28,000 if you give jointly with your spouse) to each of as many people as you'd like in cash, investments, and/or property without triggering gift taxes. (This limit may be adjusted for inflation in future years.) If you're thinking about giving money [...]

What’s the Best Way to Give Money to Children and Grandchildren?2016-12-14T17:05:32-08:00

Naming Beneficiaries: What You Need to Know


A major issue in estate planning is whom to name as beneficiaries on life insurance policies, pension plan accounts, IRAs, and annuities. This important decision often doesn't take into account the substantial estate and income tax consequences the beneficiary may incur. So before you name a beneficiary, you may wish to gain a basic understanding [...]

Naming Beneficiaries: What You Need to Know2016-12-14T17:05:39-08:00

The Importance of Professional Advice


In an endeavor as critical as managing your investments, it is prudent to handle some situations with the help of a competent professional advisor. Many individual investors simply do not have the time, patience, or persistence to deal effectively with their investments over the long term. Many investors have the motivation to put in the [...]

The Importance of Professional Advice2016-12-14T17:05:43-08:00

What Are the Benefits and Drawbacks of Putting My House in My Child’s Name?


There are several reasons why homeowners may be tempted to put their house in a child's name. However, it's important to understand the risks that come with this strategy. Altruism Altruism may be the most obvious reason to transfer a home to a child. By giving a home to a younger family member, you can [...]

What Are the Benefits and Drawbacks of Putting My House in My Child’s Name?2016-12-14T17:06:00-08:00

Advance Directives: Planning Ahead for Your Own Care


Although the thought may not be pleasant, you may someday face a sudden health crisis that leaves you unable to make your own medical decisions. Fortunately, there is a legal means, known as an advance directive, to address this potential concern. An advance directive is a written statement that you complete prior to a serious [...]

Advance Directives: Planning Ahead for Your Own Care2016-12-14T17:06:00-08:00

Gauging Your Financial Well-Being


Six signs that you are in good shape. How well off do you think you are financially? If your career or life takes an unexpected turn, would your finances hold up? What do you think will become of the money you’ve made and saved when you are gone? These are major questions, and most people [...]

Gauging Your Financial Well-Being2016-12-14T17:06:11-08:00
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