Highlights Of The SECURE Act 1.) Required Minimum Distributions (RMDs) Will Start at Age 72, Not Age 70½ 2.) You Can Contribute to Your Traditional IRA After Age 70½ 3.) Inherited Retirement Accounts 4.) Adoption/Birth Expenses Please read the original article in forbes.com. Link below https://www.forbes.com/sites/davidkudla/2020/01/10/four-major-highlights-of-the-secure-act/?fbclid=IwAR0zeEfmFoYgCyuSIC_Ez5u40bYm4D0j3dO0bmUY8hXrGJQn00BDz2iocco#70a671c476b1 Continue reading

“It’s a common occurrence. Far flung family members return home to visit elderly relatives for the holidays. Upon arrival, they notice that things seem … off. A look in the refrigerator finds expired foods and an elderly relative is asking the same questions repeatedly. The same person who would never... Continue reading

“No good estate plan can afford to ignore the other assets, the ones called ‘illiquid.’ That category includes anything that can’t readily be converted to cash, in a regulated market with readily determined prices.” Many people are focused on their traditional assets that generate monthly statements, like bank and investment... Continue reading

“Paul Allen intended to give away the majority of the $20 billion-plus fortune he accumulated as Microsoft co-founder, technology investor, real estate magnate and NFL and NBA team owner.” It’s been a little more than a year since billionaire Paul Allen’s passing, but the course he charted to give away... Continue reading

“Understanding the rules about Social Security benefits and when to start claiming Social Security can be difficult. However, they’re critically important, especially for women—since women typically live longer lives than men.” Deciding when and how to claim Social Security benefits depends on several different factors, all of which are unique... Continue reading

“Being a fiduciary is a time-intensive and intellectually challenging task to put upon an individual.” One of the important tasks in creating a complete estate plan is selecting people (or financial institutions) to represent you, in case of incapacity or death. Most people think of naming an executor, but there... Continue reading

“A new national poll shows that many people over age 50 haven’t taken key steps to protect their health and well-being in case of severe weather, long-term power outages, or other situations.” With hurricanes, tropical storms and wildfires becoming routine events, data from the National Poll on Health Aging suggest... Continue reading

What is the size of the average retirement nest egg? It depends on what you mean by ‘average.’" It’s the question we all wonder about, but not very many of us will come out and ask. A 2019 analysis of more than 30 million retirement accounts by Fidelity Investments found... Continue reading

“The fantasy of being your own boss and filling your days as you wish is a powerful one. However, if you’re not careful, you could spend those golden years trying to earn more or pinching every penny.” There are just about as many ways to ruin your retirement, as there... Continue reading

“Contemplation of retirement can be both exciting and intimidating. Obviously, planning for the beginning of retirement should start early.” While you may be thinking about retirement for a long time, with visions of tropical beaches or grand trips overseas, when the date starts to get closer, it’s time for some... Continue reading

“While it’s not something many people think about until faced with the issue, obtaining a credit report for a deceased person is important. You may need to make sure the credit report is accurate and take stock of any creditors you need to notify of the death or see if... Continue reading

“During retirement or before, you probably did all the financial planning along with the legal paperwork. Have you also thought about personal choices as you age and the options ahead?” If you don’t have a personal plan for yourself, you may wish you had given it some thought, if you... Continue reading

“For couples over 50, living together has a lot of appeal and is on the rise. In fact, the number of unmarried couples who are 50+ shot up 75% between 2007 and 2016, according to the U.S. Census Bureau.” One reason for the popularity of living together without marriage, is... Continue reading

“Talking about illness, death and taxes is not most people’s idea of a good time (except for us estate planners). That being said, there are times in life when it’s time to move updating your estate plan off the ‘to do’ list and on to the ‘done’ list. Here are... Continue reading

“Your will may be the most important document you’ll ever write. The problem is, after many of us draft one, we put it somewhere for safekeeping and don’t look at it again. That can be a big mistake.” Lives change, and laws change. People come and go in our lives,... Continue reading

“A No Contest clause is a paragraph that can be included in a Last Will and Testament or a Trust, which makes it clear that anyone who challenges the validity of the document or the way it distributes or manages the assets of the estate will receive less than what... Continue reading

“Although most people would not want a court proceeding on death, many people mistakenly think that a will avoids one.” A Will, also known as Last Will and Testament, is a legal document that is used in probate court, if a person dies with assets that are in their name... Continue reading

“The durable power of attorney is one of the most effective and important planning tools for medical care and estate planning, since it enables a person (the principal) to delegate certain powers to another (the agent) by means of a written legal document.” Without a durable power of attorney, helping... Continue reading

“Most of us have heard the quote from Benjamin Franklin, ‘In this world, nothing is certain except death and taxes.’” No one actually enjoys paying taxes, and few of us really want to think about our own death, but both require advance planning and careful consideration, advises Ohio’s Country Journal... Continue reading

“Everyone knows what a will is. However, do you know the importance of having one? What does this document mean and what are the reasons why you should prepare a will? What happens to your money and property, if you don’t have one?” These questions presented by The Westerly Sun... Continue reading

“You should go to an estate planning attorney to sort things out and make sure both of you are on the same page about who owns what, who gets to stay where and for how long into the future.” Here’s a scenario that happens often. A man receives an inheritance,... Continue reading

“The best way to ensure that they know and understand your wishes, is to take a copy of your advanced healthcare directive or living will with you to your next check up and talk to your physician about it, then ask them to keep the copy on file.” Everyone needs... Continue reading

“Roth IRAs are powerful and flexible financial planning tools. They are also complex. As a result, many people aren't familiar with all aspects of a Roth IRA.” There is a lot that most people don’t know about Roth IRAs, as detailed in the article “9 Surprising Facts About Roth IRAs”... Continue reading

“Particularly if you’re 65 or older, you may have recently been asked by your financial advisor, custodian or brokerage firm, if you would like to add a trusted contact person to your account.” Dramatically increased instances of elder financial abuse are behind a new question asked of seniors by their... Continue reading

“A No Contest clause is mostly what it sounds like. It is a paragraph that can be included in a Last Will and Testament or a trust, which basically states that anyone who challenges the validity of the document or the way it distributes or manages the assets of the... Continue reading