What is the “Kiddie Tax”?
August 13, 2019 No Comments
Children and grandchildren inheriting traditional IRAs could quickly find themselves in the top 37% tax bracket, thanks to changes ushered in by the Tax Cuts and Jobs Act.
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Can I Name a Trust as the Beneficiary of an IRA?
August 12, 2019 No Comments
When you set up an IRA with a brokerage, you’ll usually be asked to designate a beneficiary. This is where you would enter the trust as your beneficiary, should that be the option you choose.
Does My Credit Card Debt Die With Me?
August 2, 2019 No Comments
Some things don’t disappear even when you die, including credit card debt.
Why a Trust is Necessary When You Have Children
August 1, 2019 No Comments
There are mechanisms that you can put in place through a trust to help your children become financially responsible with their inheritance.
Six Steps to Get Your Loved One’s Financial Records Organized
July 31, 2019 No Comments
If your loved one’s organizational style consists of dropping off paperwork somewhere in the spare room instead of creating a financial document file that would delight Marie Kondo, you might feel overwhelmed.
Does Your Estate Plan Include a Pet Trust?
July 30, 2019 No Comments
A pet trust is a legal arrangement that specifies how your animal companions would be cared for and taken care of financially if you pass away, or if you become ill or disabled and can no longer take care of them yourself.
Should I Roll A 401(k) into an Annuity?
July 29, 2019 No Comments
Many annuities cannot be passed on to a beneficiary; any money left in them when you die goes to the insurance company.
What Tax Consequences Are There for Gifting?
July 27, 2019 No Comments
The federal estate and gift tax are unified and allow you to give away property above the annual exclusionary gift amount or for your heirs to inherit up to a total of $11.4 million currently, without paying gift or estate taxes and this increases with inflation.
Dads, How Can You Make Sure Your Family is Protected?
July 26, 2019 No Comments
If you’re a father, there’s a good chance you help manage your household’s finances and you may even play the dominant role. This may work well now, but what if something were to happen to you? Would your family be financially okay?
What Are Some Smart Second Marriage Planning Tips?
July 25, 2019 No Comments
One in five Americans has married at least twice. However, a sobering 60% of second marriages end in divorce, the Census Bureau found.
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