The Complicated Answer That Could Save Your Will from Being Invalidated Have you ever wondered if the person you’re naming as executor can also witness your will? This question comes up a lot in estate planning and the answer isn’t as straightforward as you might think. As someone who’s spent countless hours researching this topic … Read more
Social Security benefits are a crucial part of the retirement income for millions of Americans. If you don’t have enough Social Security credits to get benefits on your own work record or your own benefit is small, you may be able to receive benefits as a spouse. Your spouse must be receiving benefits for you … Read more
Ever wondered if the ultra-wealthy use the same retirement accounts as regular folks? I’ve been researching this question for weeks and what I found might surprise you. Yes, millionaires absolutely do have Roth IRAs—and they’re leveraging them in ways most of us never imagined possible! By the end of 2022 there were a staggering 280300 … Read more
If you got a late start—or you’re just starting over—you can build up retirement savings relatively quickly. How much you can save in the next 15 or 20 years will depend on a number of factors, but you can still retire in comfort. We’ll cover those points below and give you some tools to plan … Read more
Have you ever felt like the tax man is always coming for your hard-earned money? Well I’ve got some amazing news for you! There’s actually a magical unicorn in the world of retirement accounts that can help you kiss those retirement tax worries goodbye. It’s called a Roth IRA and I’m convinced it might just … Read more
Are you wondering if that 401(k) account you’ve been faithfully contributing to can be quickly converted to cash when needed? Maybe you’re applying for a mortgage or just want to understand your financial position better. Whatever your reason, the question “is a 401(k) considered a liquid asset?” is an important one to answer. Spoiler alert … Read more
As a financial planner, I’ve noticed many clients are confused about whether they can put their Roth IRA in a trust. The short answer is you can name a trust as the beneficiary of your Roth IRA but a trust cannot directly own a Roth IRA during your lifetime. This distinction is crucial for proper … Read more
If you are looking into applying for disability benefits, you may have heard there is a limit on how much money you can have in the bank. It’s important to understand there are two types of disability benefits – SSDI and SSI. The amount of money you have only matters for one of these types. … Read more
Social Security’s full-benefit retirement age is increasing gradually because of legislation passed by Congress in 1983. Traditionally, the full benefit age was 65, and early retirement benefits were first available at age 62, with a permanent reduction to 80 percent of the full benefit amount. Currently, the full benefit age is 66 years and 2 … Read more
Ever wondered why some of your stuff doesn’t have to go through that dreaded probate process when you pass away? You’re not alone! At our estate planning firm we’ve seen countless clients confused about what assets are excluded from their estate. This confusion can lead to messy situations for families during an already difficult time. … Read more