Here are some things to consider. Be sure you understand your options. When the owner of an IRA passes away, his or her heirs must be aware of the rules and regulations affecting the inherited IRA. Ignorance could lead you straight toward a tax disaster. Please note that this is simply an overview. Rather than…
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We will all leave this world sometime. Why leave unanswered questions with those we love? We all want to live a significant, successful life. Yet how many of us realize that our important, positive contributions can last long after we are gone? Two things are certain: death and taxes. Some of us grasp that reality…
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The two words signify a far-reaching kind of financial care. There’s financial planning, and then there’s wealth management. Think of wealth management as a step up from garden-variety financial planning. One office (rather than one person) provides a range of services for a client: personal financial planning and investment management, tax reduction and estate planning…
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While the idea of retirement has changed, certain financial assumptions haven’t. We’ve all heard about the “new retirement”, the mix of work and play that many of us assume we will have in our lives one day. We do not expect “retirement” to be all leisure. While this is becoming a cultural assumption among baby…
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What would you like to have known at 18, 25, or 35? When you were 20 or 25, what was your level of financial literacy? What did you think of when the nightly news mentioned Wall Street or the Federal Reserve? Did you even care about those things at that time? Few young adults fully…
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The fact is, the more complex your estate, the more your need for estate planning – and a living trust can be a fundamental tool in that planning. While not everyone needs a living trust, they certainly become more attractive as your estate grows more complex. Why a living trust? Essentially, a revocable living trust…
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Those three little letters signify some very high standards in financial planning. “Certified Financial Planner” – what does that title really mean? When you search for a financial advisor, it means everything. Let me explain why the CFP® designation is so important. Today, the financial world is full of credentials and designations. Some are respected,…
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Can you get by with a will only, or do you need more? You see the ads all the time: “Should you have a living trust?” There is no pat answer. The fact is, the more complex your estate, the more your need for estate planning – and a living trust can be a…
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Why estate planning is so important, and not just for the rich. Do you have an estate? It doesn’t matter how limited (or unlimited) your means may be, and it doesn’t matter if you own a mansion or a motor home. Rich or poor, when you die, you leave behind an estate. For some, this…
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An estate planning option more families ought to know about. You may think of life insurance in very simple terms: you buy a policy so that your loved ones will have some financial assistance when you die. But if you have assets of $1 million or more, you should view life insurance as a tool…
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