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Rial Moulton
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“For each year in which a bull market persists, workers become likelier to retire. However, those who leave the workforce now—the ninth year of the longest U.S. bull market—are potentially setting themselves up for a tough stretch that could test their portfolio’s long-term resilience.” Live long enough and you’ll get... Continue reading
Posted Oct 26, 2018 at Washington Estate Planning
“According to U.S. Bankruptcy Court data, 819,159 people filed for bankruptcy in 2016. Although that is down 6.9 percent from 2015, Debt.org reports that people 55 and older account for 20% of those filings, a number that has doubled among seniors since 1994.” Overall, personal bankruptcies are on the decline.... Continue reading
Posted Oct 25, 2018 at Washington Estate Planning
“Women who retire when their husbands do, may be giving up more wealth than they realize.” Women in their 50s and 60s are in their peak earnings years, while their male counterparts are usually on the decline, according to an associate professor of health care policy at Harvard Medical School.... Continue reading
Posted Oct 24, 2018 at Washington Estate Planning
“The client wanted her surviving spouse to have access to her work email, but her employer shut down the email account following her death.” This is one of those situations that does not have a happy ending. A woman died unexpectedly, and her employer shut down her email immediately after... Continue reading
Posted Oct 23, 2018 at Washington Estate Planning
“What will happen, if you die without leaving a will? It is probably the last thing you want: Instead of you deciding who gets your small business, the government decides.” Every state has its own rules about how assets are distributed after someone dies, and what happens when the person... Continue reading
Posted Oct 22, 2018 at Washington Estate Planning
“If you are looking to pull cash from your 401(k) plan or traditional IRA without getting hit with a penalty, the IRS will allow you to do it.” This is a move of last resort. You’ll need to do all the research to be sure this will not do more... Continue reading
Posted Oct 19, 2018 at Washington Estate Planning
“While a longer life is a good thing, it will also present challenges – and unfortunately, sometimes financial predators.” The prospect of a long, healthy and active life is a wonderful thing to consider. However, one in 10 seniors have suffered financial abuse, according to The Kansas City Star’s article... Continue reading
Posted Oct 18, 2018 at Washington Estate Planning
“If you are looking to pull cash from your 401(k) plan or traditional IRA without getting hit with a penalty, the IRS will allow you to do it.” This is a move of last resort. You’ll need to do all the research to be sure this will not do more... Continue reading
Posted Oct 18, 2018 at Washington Estate Planning
“Everyone wants to retire with ample savings in their bank account. Plan your retirement, by avoiding these eight common IRA mistakes.” IRAs, or Individual Retirement Accounts, are great tools for retirement savings. The best tactic says Born2Invest in the article “Retirement planning: 8 common IRA mistakes” is to make the... Continue reading
Posted Oct 17, 2018 at Washington Estate Planning
“Many of us have experienced the unexpected "telephone call" from a hospital or loved one that a sudden negative medical event has occurred, involving a member of your family.” It’s never a good thing, when you get a call and the person on the other end asks if you are... Continue reading
Posted Oct 16, 2018 at Washington Estate Planning
“Though retirement can be a fulfilling time in people's lives, it can also be a stressful one. This especially holds true, if you fall victim to the following mistakes, so be sure to avoid them at all costs.” Most people spend their entire working lives dreaming of retirement. However, when... Continue reading
Posted Oct 15, 2018 at Washington Estate Planning
“Although we typically associate the term “estate” with the ultra-wealthy, estate planning is not just for the rich. Everyone, regardless of family dynamics or financial status, can benefit from having an estate plan—a collection of documents that specify how you want your assets distributed.” Estate planning has a purpose while... Continue reading
Posted Oct 12, 2018 at Washington Estate Planning
“A 401(k) plan ensures that you have money to spend during your retirement years. However, there are reasons why a 401(k) stinks.” It’s almost always enlightening to hear from a different perspective, even in finance. This article from Born2Invest, “Retirement planning: The downsides of your 401(k),” takes a somewhat contrarian... Continue reading
Posted Oct 11, 2018 at Washington Estate Planning
“As our lives become more and more connected online, we increasingly need to also consider what to do with the digital estate, the online accounts of our dearly departed, many of which hold photos and personal memories, as well as sensitive financial information.” Settling the estate of a loved family... Continue reading
Posted Oct 10, 2018 at Washington Estate Planning
“If you're part of a married couple, it's highly likely that one of you will become a widow or widower at some point.” If it’s any comfort, there are now some 20 million widows and widowers in America, according to a study from Merrill Lynch and Age Wave that focuses... Continue reading
Posted Oct 9, 2018 at Washington Estate Planning
“Workers aren’t the only ones who need to double-check that they’re withholding sufficient taxes. The IRS is warning retirees to ensure they're paying enough federal income tax.” The IRS embarked on a big awareness campaign since the summer, telling taxpayers they should review and update their withholding numbers at work... Continue reading
Posted Oct 8, 2018 at Washington Estate Planning
“However, as with most things, a will’s value is relative; it largely depends on your unique circumstances.” “Intestate” is the term used to describe the estate of someone who dies without a will. Each state has laws called “intestacy laws” that govern how probate assets are distributed, if someone dies... Continue reading
Posted Oct 5, 2018 at Washington Estate Planning
“Most gun owners are cognizant of the strict regulations concerning ownership of a firearm. However, their family members and heirs are often unaware of the laws governing the disposition of a firearm, when the gun owner dies.” The NY Secure Ammunition and Firearms Enforcement (SAFE) Act, enacted in response to... Continue reading
Posted Oct 4, 2018 at Washington Estate Planning
“Retirees living abroad have to take special care with their tax returns. If you forget to check it off this box on Schedule B when you live overseas, it could mean big trouble with the IRS.” It’s something you don’t hear discussed often, but there are people who like to... Continue reading
Posted Oct 3, 2018 at Washington Estate Planning
“Your 50s are a time of transition. Many workers reach their peak earning years in their 50s, having found their ideal career niche.” The 50s are the time of life when your kids are starting to become more independent and may have already moved out. If that’s true, you may... Continue reading
Posted Oct 2, 2018 at Washington Estate Planning
“Advance directives come up frequently in conversations about health care decision-making, as people age. Their purpose is to provide written instructions for medical care, in instances where a patient is unable to communicate them herself. An advance directive is a legal document that states a person’s preferences for medical treatment... Continue reading
Posted Oct 1, 2018 at Washington Estate Planning
“The problem is that my parents want to designate me as their power of attorney, for both health care and financial decisions, since I live in their community. Unfortunately, my siblings feel slighted.” The reader who posed this scenario is not alone in facing siblings who live far away but... Continue reading
Posted Sep 28, 2018 at Washington Estate Planning
“There is no doubt that, for the most part, parents are much more involved with their children and their children’s more numerous activities, than parents were when I was growing up.” If this describes you and your kids, then you need to prepare yourself for the adjustments that happen when... Continue reading
Posted Sep 27, 2018 at Washington Estate Planning
“Many homeowners plan to stay in their homes over the long-term, and some may plan to live independently at home, rather than moving into a retirement community, if possible.” Aging in place is what most people hope for as they enter their 60s and 70s. However, to make it a... Continue reading
Posted Sep 26, 2018 at Washington Estate Planning
“Most Americans enter retirement age with access to Social Security benefits. Many people also have Individual Retirement Accounts, including those that were funded by transferring money from workplace 401(k) plans.” One trick to a successful retirement is to make your Social Security benefits coordinate optimally with your Individual Retirement Accounts... Continue reading
Posted Sep 25, 2018 at Washington Estate Planning