How Will the New SECURE Act Impact My IRAs and 401(k)?
A new law could affect the IRAs and 401(k)s of millions of Americans in 2020.
March 30, 2020
A new law could affect the IRAs and 401(k)s of millions of Americans in 2020.
After someone dies and the estate is settled, how long can the deceased’s name remain on the deed?
A will and a trust are separate legal documents that typically share a common goal of facilitating a unified estate plan. While these two items ideally work in tandem, since they are separate documents, they sometimes run in conflict with one another–either accidentally or intentionally.
Healthcare is a major expense for seniors, so much so that recent estimates put the average cost of it at $387,644 throughout retirement for the typical 65-year-old couple retiring today. While that figure may seem astronomical, it actually doesn’t account for a related expense that many seniors will inevitably face: long-term care.
Although various degrees of control may accompany a limited guardianship, our discussion here applies to a general guardianship, which includes full control of an individual’s person and property.
Five of the most common mistakes are easy to avoid with the right information and support, as well as a little creativity.
I am named successor trustee in my parents’ trust. When the time comes, how do I sell the home and the other assets?
Trusts have long been a tool for the ultra-wealthy to preserve wealth and pass it down through the generations. However, even those of more modest means may benefit from this powerful estate planning tool.
Most financial experts would agree that it is rarely, if ever, a good idea to take an early withdrawal from a traditional IRA or Roth IRA. This is due in part to the high cost of penalties that can hit an account holder for an early withdrawal (not to mention losing out on years of potential earnings).
Many people have tens of thousands–even hundreds of thousands–of dollars in their IRAs. If you have an asset that large, shouldn’t you devote more effort to planning for its ultimate disposition?