Tips for Leaving an Inheritance to Family

Families inherit money and sometimes make the right moves investing and spending. Inheritances can also ignite disruption, divorce and a host of bad behavior – far from the hopes and plans of the benefactor. What happens when you leave what’s probably one of your biggest investments: your individual retirement plan? Your Retirement Assets Perhaps most …

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How to Plan for College Costs in Retirement

In today’s rapidly changing economic landscape, proper financial planning has become more critical than ever. When it comes to saving for children’s college expenses, accounting for inflation is a fundamental aspect that cannot be overlooked. Inflation, the gradual increase in the cost of goods and services over time, has the potential to erode the purchasing …

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New IRS Ruling & Kids’ Inheritance

One recent development that has stirred conversations among investors and advisors alike is the issuance of the IRS Revenue Ruling 2023-2. This ruling has presented a unique set of challenges and opportunities for estate planning, especially for those employing irrevocable trusts as part of their wealth management strategy. The Stealth Shift by the IRS In …

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Uncovering the Financial Implications of Divorce

Divorce, while an emotionally taxing experience, also comes with several financial implications that, if not properly managed, could result in long-lasting financial strain. It’s essential to understand these hidden costs to effectively navigate your post-divorce financial life. Here are three key areas where hidden costs often lurk: Health insurance, dividing retirement accounts, and transferring real …

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The 95 Plan for Retirement

How long do you think you will live? How long does your money need to last? If you’re like most people, you get this age wrong. Today, we’re going over my 95 Plan. The consequence? Faulty retirement planning, overspending now and running out of money before you actually reach your true longevity. Or spending too …

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Beneficiaries: What Happens When There’s None?

Have you ever wondered what happens when there are no beneficiaries named on the account?  It’s a sad, frustrating, drawn-out situation and in today’s article, we’re pulling back the curtain on what the world of no beneficiaries holds.  Some accounts have no designated beneficiary. Rarely, the same thing occurs with insurance policies. This is usually …

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