Before we look at those mistakes, let’s go over what estate planning is designed to accomplish. Essentially, an estate plan allows you to pass on your assets in the way you desire. But it can also specify other actions, such as naming someone to care for your minor children if…

Social Security recipients may see cost-of-living adjustments to their checks next year like never before — potentially a double-digit hike if inflation continues at its current pace, experts say. The U.S. inflation rate hit a 41-year record of 9.1%, the latest Consumer Price Index data from June show, and Americans…

As we enter the summer months, retirement plan sponsors should start looking to the end of the 2022 calendar year to ensure they are prepared to adopt all necessary plan amendments ahead of the deadlines. …

Deciding what happens when you pass can be complicated and stressful; one decision is how you want your estate distributed. This means likely dealing with trusts and wills. Don’t leave this to your loved ones to figure out. …

The SECURE Act changed the rules for distributing assets from an inherited IRA upon the death of an IRA owner. Here’s what you need to know… IRAs come with their own set of rules such as-minimum age for withdrawals, required minimum distributions after a certain age, taxes, and penalties to…

In many families, more assets pass outside the Last Will than through the Last Will. Think about non-probate assets: life insurance proceeds, investment accounts, jointly titled real estate assets, assuming they were titled as joint tenants with right of survivorship, and the like. …

The Federal Reserve intensified its fight against the worst inflation in 40 years by raising its benchmark interest rate by a half-percentage point Wednesday — its most aggressive move since 2000. The increase in the Fed’s key short-term rate raised it to a range of 0.75% to 1%, the highest…

On March 29th, the House of Representatives voted 414–5 in favor of the “Securing a Strong Retirement Act of 2022” or as it is better known, SECURE Act 2.0. Next the bill will go to the Senate and if passed will expand on the SECURE Act passed in 2019. The…

Most kids don’t think about retirement or fully understand it, but as parents, you can open a minor Roth IRA for your child and start their retirement funds early. An IRA can be one of the greatest gifts you give your child, even if they don’t understand or recognize it…