Elder Couple with Bills

“While most of us had stockings and menorahs on our minds, President Trump on Dec. 20 signed the Secure Act that makes the most significant changes in retirement accounts we’ve seen in years.” For anyone who has saved a high six or seven-figure balance in their retirement accounts, the SECURE Act will definitely affect their […]

Finger Pressing Button on Calculator

“Congress passed an important retirement-savings law called Setting Every Community Up for Retirement Enhancement, or the SECURE Act of 2019.” The most significant legislation affecting retirement was signed into law on Friday, Dec. 20, 2019. After stalling for months, Congress suddenly passed several bills, as attachments to budget appropriations, as reported by Advisor News’ article […]

Family Pulling Party Favors During Christmas Dinner

“As Thanksgiving approaches, it’s meaningful to reflect on the origin of the holiday–Native Americans and pilgrims sharing their bounty of food with each other. As you gather with your loved ones this year, perhaps you can think of ways to share not only your dinner, but also your financial bounty.” For many families, the holiday […]

silhouette of man on a wheelchair

Working and saving without risking benefits. Achieving a Better Life Experience, or ABLE accounts, now allow children or adults with disabilities to save as much as $100,000 without risking their benefits, according to Consumer Reports, in “ABLE Accounts Can Help People with Disabilities Save Tax-Free“. For many years before ABLE accounts were set up in […]

human miniature standing over piled coins

There are ways to give away money that help people and create some tax breaks. If you’ve reached a point in life where you feel you have enough and want to give your money away, it would be wise to consider what your family thinks about sharing your resources, according to the AARP in “How […]

extended family

There are many different ways to fund a college education and a trust is one of them. If a family should decide they do not want the younger generations to be be heavy in debt upon graduating from college, there are a couple of different options, according to the Wills, Trusts & Estates Prof Blog […]

human miniature standing over piled coins

The estate of former Yugoslavian dictator Tito, which has been stalled for 35 years, will possibly be closed by early 2016. The estate of Joseph Broz Tito, who ruled over Yugoslavia as a dictator for more than 30 years, may finally be approaching closure 35 years after his death. Tito passed away in 1980 and […]

printing calculator

With every state seeking additional revenue and every candidate seeking additional votes, estate taxes have become part of many politicians’ platforms. Most of us pay more attention to estate taxes on the federal level, but estate taxes on the state and federal level have changed a lot in recent years. Not everyone is clear on […]

Keep an eye on the Obama Administration budget proposals as there are several provisions which may affect estate planning.  For example, there is a provision which would reduce the $5 Million federal estate tax exemption to $3.5 Million – the 2009 level.  Stay tuned! http://www.treasury.gov/resource-center/tax-policy/Documents/General-Explanations-FY2015.pdf

piggy bank

You can stuff a lot of money into a 529 college savings plan now and then do the same thing at the beginning of 2014 – a strategy that advisers say they are seeing many wealthy clients adopt this year. Funding a 529 College Savings Plan before year-end is a great gifting strategy your college-bound […]