Categories

Estate Planning

Do Foreign Persons Have U.S. Estate Tax Responsibilities? By Melvin Perez, CFP®

Posted July 9, 2024

It is no secret that the U.S. tax code is complicated. For foreign persons, compliance with U.S. tax laws is particularly onerous, especially when considering that different rules apply for income and estate tax purposes, and neither depends on an individual’s immigration status. For income tax purposes, the U.S. presumes foreign persons to be nonresident […]

Should you Contribute to a Traditional 401(k) or a Roth 401(k)? By Olga Ismail

Posted June 12, 2024

Like many estate-planning decisions, whether it is best to invest in a traditional 401(k) retirement savings plan or a Roth 401(k) comes down to taxes. More specifically, does it make more sense for you to pay taxes on your withdrawals in the future or on the contributions you make today? Weighing these options requires a […]

7 Smart Money Moves to Maximize Year-End Bonuses by Kathleen Marteney, CRPC

Posted February 20, 2024

If you received a year-end bonus, congratulations! As gratifying as it may be to splurge on something you can enjoy immediately, you may want to take a few moments to consider how you can maximize those dollars for the long term. Following are seven smart money moves to help you use a windfall of money […]

There is Still Time for Trusts to Reduce 2023 Tax Liabilities By Robert Mark Weiss, CFA

Posted February 7, 2024

With 2024 well underway, certain calendar-year trusts and estates still have a small window of opportunity to reduce their 2023 income tax liabilities and those of the trusts’ beneficiaries provided they act before March 6, 2024. Under a special IRS rule, trustees have 65 days after the start of a new year to distribute trust […]

Are You Prepared for Sunsetting Tax Provisions? By Sean Deviney, CFP®*

Posted January 11, 2024

Many of the provisions contained in the current tax law are set to expire on Dec. 31, 2025, signaling an immediate need for individuals to reassess their existing estate plans to maintain long-term tax efficiency. Failure to engage in planning now can result in potentially higher taxes on income and long-term capital gains and undue […]

You Are Not Too Young To Think About Life Insurance by Scott Montgomery

Posted December 13, 2023

Death is often the furthest thing on the minds of twenty-somethings just beginning their careers and enjoying the freedom and opportunities that come with their post-college life. However, introductions into adulthood also come with a long list of responsibilities, liabilities and risks that require careful consideration and planning. In the unfortunate and tragic event that […]

The Importance of Selecting and Updating Beneficiaries by Scott Montgomery

Posted December 7, 2023

Naming beneficiaries to receive proceeds from a life insurance policy or retirement account is a difficult decision that requires consideration of a range of factors. Because these selections supersede designations in your will, they are an important step in the estate-planning process that must be addressed with particular care and attention to detail. Selecting Beneficiaries […]

6 Habits to Adopt Now to Help Ensure a Successful Retirement Later by Lee F. Hediger

Posted November 29, 2023

If you want to get in shape, you should establish healthy eating habits and a regular exercise schedule. Are you looking to play an instrument? Take lessons and start a routine of practicing regularly. The road to success is paved with positive behaviors and lifestyle choices. Retirement is no different. Following are six habits that […]

Managing your Online Legacy and Digital Assets after Death by Eric Zeitlin

Posted November 8, 2023

In a world where we conduct and share so much of our lives online, it is essential to consider what happens to our digital footprint after we pass away. Do family members have the usernames and passwords needed to access all your financial accounts and pay bills in your absence? Can they access all the […]

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