5 Critical Components of an Estate Plan
An estate plan is important for people of all ages and wealth levels. Yet many people avoid estate planning because they do not want to think about the end of life, the possibility of failing health, or potential for an unfortunate disability. There is no time like the present to overcome those fears, stop procrastinating and start planning for your future. Pulling back the curtain on what...
Education Savings Strategies You Might Not Know About
The Benefits of a 529 Education Savings Plan
Named after a section of the tax code enacted two decades ago, 529 education savings plans are a tax-advantaged plan that encourages parents to save money for their children’s education. Although contributions are not deductible, the invested assets can grow free of federal and state taxes. There are two types of 529 plans – one lets you pre-pay...
Maximizing the Value of Inherited IRAs
Stretching an inherited IRA is extremely valuable to the beneficiary. Learn what that means.
An inherited IRA, or “beneficiary IRA”, is an account that gets opened when someone inherits an IRA after the death of its owner. The beneficiary may open an inherited IRA from any variety of eligible IRAs, from Roth and rollover to Simple IRAs and SEPs. This IRA beneficiary is subject to required...