3 Estate Planning Hurdles
May 07, 2021
Fact: When you pass, you will leave behind an estate, and somebody will need to settle it. Your estate may be worth a little or a lot, but none of us can escape death and taxes.
So why do so many families put off essential estate planning until it’s too late? In my experience, there are three hurdles:
How the SECURE Act Dramatically Affects Your IRA and 401(k) Heirs
April 23, 2021
Why am I just now writing about the SECURE Act of 2019? Because many families remain unaware of an estate-planning pitfall it created by taking away the “stretch IRA.” This means, other than spouses, many heirs can no longer shelter an inherited IRA from income taxes for more than 10 years. And there’s a 50% TAX PENALTY if an inherited IRA isn’t closed out within 10 years of a decedent’s passing.
The Most Meaningful Ways Your Retirement Age Affects Your Retirement Lifestyle
Posted on 04/09/2021
“When can I retire?” For many Americans, it’s a matter of when they can afford to. Clearly, retiring sooner than later affects your finances. But some of the reasons why are more obvious than others.