April 2020

News about the Coronavirus (“COVID-19”) is everywhere, and we have all been affected by it in some way, even if we are currently completely healthy. Although it may seem as though circumstances are spinning beyond our control, we are not powerless. There are steps we can take to protect ourselves and our families, both physically and financially.  Constant news reports about COVID-19 have...

The CARES Act was passed in March 2020. The legislation provided economic relief in various forms— one of these forms was to provide relief to those who use tax favored retirement accounts. Many of our clients’ largest asset are their IRAs and 401(k)s. For years, when someone turned 70 ½, they would be forced to take a distribution from their IRA / 401(k) and pay taxes on that...

Estate planning for families is more important than ever during the Coronavirus pandemic. This week we would like to highlight the importance of getting your plan in place if you have minor or special needs children. Parents need to have their foundational estate planning documents including a revocable living trust, powers of attorney and advanced health care directives. However, plans need...

While it is important during this Coronavirus pandemic to make sure that each of us has our own estate plans in place, our office continues to receive many inquiries about Trust administration during COVID-19. Trust administration is necessary when a loved one is incapacitated, a spouse passes away or a Trust is terminated following the death of a single person or a surviving spouse. People...

The Coronavirus outbreak has shaken the world. Financial planning and estate planning have become a central focus for those concerned that they, or someone they care for, will contract the virus and—potentially—lose control of their affairs.  Many clients’ largest asset are their IRAs and 401(k)s. For years, when someone turned 70 ½, they would be forced to take a distribution from their...