What are the Penalty-Free IRA Withdrawals?
The contributions you make to your individual retirement account (IRA) are intended to supplement your income during your retirement years. However, as much as you’d like to let your IRAs remain untouched until retirement, unforeseen expenses may force you to withdraw some of those assets early.
Don’t Risk it: Protect Your Finances From Coronavirus Complications
Many Americans spend a lot of time and effort in managing their finances. While most are worried about how the coronavirus (COVID-19) will impact their income—whether that’s because they are […]
Business Exit Planning and Estate Planning
Thinking of exit and estate planning in tandem, allows owners to ask relevant questions to bring their entire picture into focus.
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.
Do I Have to Pay Taxes on My Inheritance?
An inheritance is not subject to income taxes.
You Could Be Hit with Penalty for an Early IRA Withdrawal
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).
What Should I Know about Beneficiary Designations?
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?
Do Unmarried Couples Need Estate Planning?
Experts say that creating a plan for what happens to your estate — regardless of how meager or massive your assets — is key for unmarried couples who want their commitment to each other protected in the event of death.
Mistakes to Avoid when Planning Estates
Five of the most common mistakes are easy to avoid with the right information and support, as well as a little creativity.
Will We Have to Pay Gift Taxes if We Give a Rental Property to Our Son?
How should we best do this, so that we avoid future gift taxes?