With Covid-triggered changes in the economy and more people taking early retirement or changing jobs, there has been a surge in rollovers from 401(k)s to individual retirement accounts.
Inheriting an IRA from a parent has a unique set of rules you need to know, which will help you make the most of the money you inherit and avoid a tax-time surprise.
Today, so many aspects of our lives are managed virtually. We keep currency, photos, music, documents, bills, medical records, artwork and even our social lives online or ‘in the cloud.’
A heath care directive is a legal document that lets you express your health care preferences and, if you wish, designate authority to someone to make care decisions for you, if you cannot make them yourself.
A pot trust is a type of trust that lists children as beneficiaries, with the trustee using his or her discretion as to how trust assets should be spent. If you have minor children, you might consider setting up a pot trust to meet their financial needs, if something should happen to you. This type of trust allows you to create a single pool of assets to be used for the benefit of multiple children.
If you think saving for retirement is complicated, try figuring out how to withdraw retirement funds while minimizing taxes.
If you’ve had an IRA and a 401(k) for many years, you may occasionally ask yourself some questions: ‘Am I contributing enough?’ ‘Am I still funding these accounts with the right mix of investments for my goals and risk tolerance?
The conservator is court appointed and may be responsible for financial decisions, such as retirement planning, the purchase or sale of property and the movement of any other financial assets.
Your DIY estate plan might miss important details.
A will is a legal document that spells out the distribution of your assets and how your children will be cared for at your death. Probate is a process used to prove a decedent’s will is valid and to supervise the handling of their estate.
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