Many of us haven’t been able to see our family members this summer due to Covid-19. For now, family get-togethers and vacations have been put on hold, but there are still ways for us to connect and be there for each other. 2020 has given all of us more time to think about our past, …
Continue reading “Leaving a Legacy: The Human Side of Estate Planning”
Thus far 2020 has been a year filled with uncertainty, with one exception, the choice on whether or not to take a 2020 RMD disbursement. Due to both the SECURE and CARES Act, a multitude of options are available for those of age to receive RMDs. The choice is whether or not to take …
With the pandemic well underway, you may be taking a second look at your retirement plan. Will you have enough income to retire? Can you afford your taxes? What about healthcare? Have you reviewed your estate plan? More and more questions may be surfacing as the world changes around us. To help navigate through this …
Continue reading “6 Ways to Evaluate Your Retirement Plan During The Pandemic”
Do you plan to leave money, assets, or other belongings to loved ones after you pass away? If you become seriously ill or incapacitated, who do you want to make financial decisions on your behalf? What about healthcare decisions? A well-constructed estate plan addresses all of these questions and more. Unfortunately, many people mistakenly believe …
As this is family wellness and legacy month, let’s talk about life insurance. Life insurance is a love letter to help your loved ones. Life insurance says “Honey when I walk out, cash will walk in tax-free.“ It is common knowledge that life insurance is often used to pay for funeral and end of life …
The SECURE Act is the largest piece of retirement legislation to pass Congress since the Pension Protection Act of 2006. Signed into law at the end of December 2019, the SECURE Act went into effect on January 1st, 2020. But that quick turn-around has left many Americans wondering how the bill will affect their retirement …
Continue reading “How will the SECURE Act impact my retirement?”
What is Power of Attorney? Power of attorney (POA), broadly defined, is a legal document that gives someone the authority to act on your behalf in legal, financial, and even healthcare matters. This person, called the agent or attorney-in-fact, is required to act in your best interests. Power of attorney documents can be incredibly useful, …
What is a Stretch IRA? A Stretch IRA is an inherited IRA account where the beneficiary has chosen to “stretch” taxable distributions over the course of their own life expectancy. When an IRA is inherited by someone other than the original owner’s spouse (called a “non-spousal beneficiary”), this person can either take advantage of the …
Continue reading “Stretch IRA: What It Is and Who Should Consider It”
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