The SECURE Act 2.0, signed into law in 2022, introduced important updates to how retirement accounts are managed and inherited. These changes can significantly affect your estate plan, especially when it comes to how and when your beneficiaries must access…
When planning for the future, many individuals wish to pass down meaningful possessions to their children. However, a common challenge arises: While parents see these items as cherished heirlooms, adult children often feel overwhelmed by the volume of inherited belongings,…
For many people, their IRA is their largest asset other than their home. Thanks to tax-free compounding, an IRA tends to grow more rapidly over time than any other asset. The Long-Term Value of a Properly Planned IRA If you…
Every May, the Administration for Community Living[1] leads the celebration of Older Americans Month, honoring seniors for the vital and positive role they play in our communities. This year’s theme is Planning Ahead to Age My Way. Just as every person…
Studies show that one-third of Americans who receive an inheritance have negative savings within two years of receiving the money. Even among Americans who inherit more than $100,000, at least 20% spend, donate, or lose all of it within the…
Your children are your pride and joy. It is no surprise that at some point or another, every parent likely becomes concerned about who will care for a minor child or children if they die or are incapacitated. To provide…
For many employees, saving for retirement is usually a matter of simply participating in their employer’s 401(k) plan and perhaps opening an IRA for some extra savings. But, when you’re the owner of a business, planning for retirement requires proactivity…
How to Pass Your Stories and Values to the Future Generations Money may be the most talked-about wealth contained within a person’s estate, but the riches of their experience and wisdom can mean even more to family members down the…