Category Archives for Legacy Planning
9 Top Questions (and Answers) on the SECURE Act
If you are at or nearing retirement age or planning for retirement, there is some BIG NEWS that everyone needs to understand and act on for their own retirement planning. Just this month, the Setting Every Community Up For Retirement Enhancement (SECURE) Act was passed by the House of Representatives and the US Senate by […]
Continue reading3 Reasons Why You Want to Take Social Security at 62
There is always a lot of discussion about when someone should start taking their Social Security payments. And often times it depends on who you are talking to as to what the pro’s and cons are for the different times you are eligible. Most people know they can start taking their Social Security payments starting […]
Continue readingThe “ESSENTIAL” Send Off Packet for ALL College Students (and Adult Children)
Your kids are either coming home for the holidays or possibly even getting ready to start college after the first of the year in some cases. Either way, it is critically important to send them off to college with an ESSENTIAL PACKET to protect them and you as their parents. We’re not talking about supplies […]
Continue readingWhy You Would Want a 529 Plan for You and Your Kids
The buzz has been out there now for a little while but there is still a lot of confusion about 529 Plans when I speak to parents. As with anything relating to investments or potential tax savings, things aren’t always as clear as we would like them to be. And there are lots of people […]
Continue readingIt’s HERE…the Tax Tables Everyone Needs to Know for 2020
One of the most anticipated (and dreaded) time of the year is when the IRS releases the tax rates for the upcoming year. It almost always happens in the last couple of months of the year. While everyone hopes their rates will go down, for most, they either aren’t going to change significantly or could […]
Continue readingSpecial Needs Children Need Special Planning
Every Estate Plan has its nuances and “special” attributes to make it work for the people who it will serve. There are no two plans the same…nor should there be. When you have a “special needs” child, there are even more nuances that make your plan very specific for both today and tomorrow. If you […]
Continue readingDon’t Forget About Your “Other” Loved Ones…Your Pets
Are you (or do you know) one of those pet owners who is “over the top” passionate about their pet? They are a member of the family and are loved as much as anyone else in the family. Their pets might even get more attention when it comes to posting pictures on social media than […]
Continue readingThe “Four Pillars” You Need in Your Estate Plan so it “Works” the Way You Want It To
Regardless of whether you have an estate plan in place or are just starting to think about one, there are some key elements everyone should know about (or refresh their thinking about). It will be worth your time to refresh yourself (or educate yourself) on some core goals you should consider when thinking about estate […]
Continue readingDo You Have an Estate over $11M…You’ll Want to Know About This Technique
The federal estate and gift tax exemption is at an all-time high ($11,400,000 as of January 1, 2019). This means that the vast majority of people will be tax exempt when it comes to gift taxes and only a tiny percentage of people who will have taxable estates. But for those of you who do […]
Continue readingAre You Taking Advantage of the 199A Tax Deduction?
Since it went into effect on January 1, 2018, our law office has been receiving a LOT of inquiries about the new IRC §199A deduction. Most don’t understand it and those that do aren’t sure exactly how to take advantage of it, or if it even applies to them. Allow me to try and simplify […]
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