Why You Need to Act Now to Protect 1/3 of Your Retirement Accounts and Avoid the Negative Impact of the Secure Act! The Setting Every Community Up for Retirement Enhancement Act (from now on the “Secure Act”) became law effective January 1, 2020. You can’t change...
What’s the impact of midterm elections and estate planning? Estate planning is meant to be an ongoing process, not a one-time transaction. In the same way that you never stop budgeting, saving, and investing as you go through life, it is also sensible to see...
The Tax Cut and Jobs Act (TCJA) is now officially law. Both the House and Senate passed the new tax reform bill in December with straight party-line votes and no support from Democrats. President Trump signed it into law right before Christmas. It is the first...
Grandparents may be tempted to leave an Individual Retirement Account (IRA) to a grandchild because children have a low tax rate, but the “kiddie tax” could make doing this less beneficial. An IRA can be a great gift for a grandchild. A young person who...
A once-popular, and almost universally used, estate planning tool for those with estates subject to the estate tax, may now cost families more in taxes, income and estate, than it saves. Changes in the estate tax law have made the “by-pass trust” a less...
In a unanimous opinion, the U.S. Supreme Court rules that funds held in an inherited individual retirement account (IRA) are not exempt from creditors in a bankruptcy proceeding because they are not retirement funds. Clark v. Rameker (U.S., No. 13-299, June 13, 2014)....
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