Categories

Estate Planning

Rethinking Inherited IRAs After the SECURE Act by Lee F. Hediger

Posted November 28, 2024

The SECURE Act’s elimination of stretch IRAs poses a challenge to many high-net-worth account owners who had hoped to pass their savings to the next generation and allow inheritances to continue growing tax-free over beneficiaries’ lifetimes. Under the law, non-spouse IRA beneficiaries must withdraw the entirety of inherited IRA accounts within 10 years of the […]

Social Security Administration Increases Recipients’ Benefits in 2025 by Lee F. Hediger

Posted November 6, 2024

Social Security and Supplement Security Income (SSI) benefits will rise 2.5 percent for nearly 73 million Americans in 2025. This annual cost-of-living adjustment (COLA) translates to an average of $50 in additional monthly benefits. The annual COLA is tied to the Consumer Price Index (CPI), as determined by the Department of Labor’s Bureau of Labor […]

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

Posted November 4, 2024

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 […]

Steps Required to Settle an Estate By Scott Montgomery, CLU, ChFC

Posted September 26, 2024

When people die, the settling of their estates and the closing of their financial affairs begin. The entire process can be overwhelmingly stressful for grieving family members and quite time-consuming, depending on the size of the decedent’s estate and the plans put in place before their passing. Following are five critical steps surviving spouses and […]

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 […]

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 […]

4 Non-Tax Benefits of Estate Planning By Eric Zeitlin

Posted October 11, 2023

Though much of estate planning focuses on implementing strategies to minimize federal taxes, there are several other reasons why individuals of all income levels should engage in the planning process under the guidance of experienced professionals. Ensure your Wishes are Followed If you do not have a valid will at the time of your death, […]

Protecting Against Elder Financial Abuse by Robert Mark Weiss, CFA

Posted September 21, 2023

According to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), financial abuse of Americans aged 60 and older increased during the pandemic with an estimated $27 billion in losses. More startling is that in 72 percent of these crimes, the victim knew the perpetrator, who was either a caregiver, a fiduciary or […]

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