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Blog : Estate Planning

The Secret Retirement Account HSA

Medical care is one of the highest expenses in retirement. There is a way for you to save funds for these costs with a triple tax benefit. You do not get taxed on the money you contribute to your Health Savings Account (HSA), on the money you withdraw from it to pay approved medical expenses,

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It’s Better to Plan Ahead

It’s Better to Plan Ahead. Two stories of two people who managed their personal lives very differently illustrate the enormous difference that can happen for those who refuse to prepare themselves and their families for the events that often accompany aging. As an article from Sedona Red Rock News titled “Plan ahead in case of

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How Do Prenup and a Postnup Vary?

“yours is the light by which my spirit’s born:yours is the darkness of my soul’s return—you are my sun, my moon, and all my stars” E.E. Cummings “The best thing to hold onto in life is each other.” Audrey Hepburn Investopedia recently published an article, “Prenup vs. Postnup: How Are They Different?” It explains that

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Inheritance now what?

Inheritance now what? Inheriting money puts a whole new spin on your outlook on money, says The Kansas City Star in its article “Coming into some money? Be wise with it.” Should you pay off your debts first, if you have any? Make a list of your debt balances and their interest rates. If the

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Busy People Need to Make Time for Retirement Planning

If you’re a busy mom or dad; are committed to long hours at work or have a successful career, maybe a real estate developer or a physician, you’re too busy to think about retirement. However, just like you had to prepare for your current position, you need to prepare for your life after you stop

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Estate Plan for Blended Family

Estate Plan for Blended Family. There are several things that blended families need to consider when updating their estate plans, says The University Herald in the article “The Challenges and Complexities of Estate Planning for Blended Families.” Estate plans should be reviewed and updated, whenever there’s a major life event, like a divorce, marriage or

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Why You—and Everyone—Needs an Estate Plan

At its essence, estate planning is any decision you make concerning your property if you die, or if you become incapacitated. There are a number of things to keep in mind when creating an estate plan, says KTUU in the article “Estate planning dos and don’ts.” The first task is not what most people think.

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Blended Families Need More Thoughtful Estate Plans

Estate planning for blended families is like playing chess in three dimensions: even those who are very good at chess can struggle with so many moving parts in so many dimensions. Preparing an estate plan requires careful consideration of family dynamics, and those are multiplied in blended families. This is another reason why estate plans

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Can I Correct an IRA RMD Mistake?

It’s not uncommon for an individual to inaccurately calculate their required minimum distribution (RMD) for their account. Maybe you forgot that your brokerage firm divided the account in two and they didn’t tell you. This mistake may result in a person failing to withdraw the mandatory amount from an IRA. What can a person do

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