Why You Should Name a Stand-Alone Retirement Trust as Beneficiary

Why You Should Name a Stand-Alone Retirement Trust as Beneficiary (For IRAs and Other Tax-Deferred Retirement Accounts) Naming the right beneficiary for tax-deferred retirement accounts is critical. Most people want to continue the tax-deferred growth for as long as possible, pay the least amount in income taxes and get the maximum stretch-out. Required distributions after [...]

2018-08-30T23:26:06+00:00July 25th, 2012|Uncategorized|

Estate Planning After Divorce

One area that is often overlooked in the divorce process is the need to update estate planning. Most people would agree that their ex-spouse is the last person they want to inherit their assets when they die'or to have that person make life and death decisions for them. But that is exactly what can happen [...]

2018-08-30T23:27:35+00:00July 23rd, 2012|Uncategorized|

Create Successful Wealth Transfers with Open Communication

A recent Forbes article claims that '70% of intergenerational wealth transfers fail,' discussing a new Williams Group study examining the long-term effects of wealth transfers in 3,250 families. 'Failure,' according to the study, means situations where the heirs dissipated wealth, often with the family assets becoming a source of friction and dispute. The researchers were [...]

2018-08-30T23:40:46+00:00July 20th, 2012|Uncategorized|

Five Common Planning Mistakes

From time to time, it's good to review why having a complete, up-to-date estate plan is so important. In addition to confirming our own actions, it can provide us with valuable information to pass along to friends and family who, for whatever reasons, have yet to act. So, here are five common estate planning mistakes [...]

2018-08-30T23:42:46+00:00July 16th, 2012|Uncategorized|

Get Ready for the New Taxes Effective Jan. 1, 2013

Now that the health care law has been declared constitutional, several significant provisions will become effective on January 1, 2013. Tax #1: 3.8% Surtax on Investment Income This new tax will be levied on net investment income if modified adjusted gross income is more than the 'threshold amount' based on filing status. For married taxpayers [...]

2018-08-30T23:44:24+00:00July 13th, 2012|Uncategorized|

Family Values Mean more than Money as An Inheritance

According to a recent study, family values, traditions and history still mean more than money as an inheritance. These results are from the 2012 Allianz Life American Legacies Pulse Study* which surveyed baby boomers (age 47 to 66) and 'elders' (age 72 and older). Allianz Life conducted a similar study in 2005. Interestingly, despite the [...]

2018-08-30T23:46:32+00:00July 12th, 2012|Uncategorized|

What you Need to Know About Estate Planning

'A recent US News and World Report blog succinctly states What you Need to Know About Estate Planning (online at http://www.usnews.com/mobile/blogs/alpha-consumer/2011/9/26/what-you-need-to-know-about-estate-planning.html). Taking excerpts from The Wall Street Journal Complete Estate Planning Guidebook, the author states: • 'Everybody needs to think about estate planning'; • 'The number one estate planning mistake is not doing anything at [...]

2018-08-30T23:48:21+00:00November 1st, 2011|Uncategorized|