“Your federal benefit payments are not made following a trust or will. You need to ensure you have a properly completed beneficiary form.”- Joe Runza If you are well-planned, you have a will or trust to ensure you leave a legacy to your loved ones. These documents, your funeral instructions, durable power of attorney, healthcare […]
“It’s fantastic if you inherit an annuity, but you need to understand the tax implications and how to make them more favorable.” –Lyle Boss You cannot escape taxes if you inherit an annuity. Fortunately, though, understanding how inherited annuities are taxed can help you avoid paying more in tax than necessary. Your beneficiary status and […]
“A solid credit score gives you more choices and the more choices you have, the greater the chance of retirement success.”- Steve Kerby There’s a long checklist when preparing for the time when you no longer get a paycheck. People within 7-10 years of retirement have a lot on their minds. They may be […]
The SECURE Act, also known as “The Setting Every Community Up for Retirement Enhancing Act” of 2019, was approved by the Senate on December 19, 2019, after initially passing through the House on July 19 as a part of an end of the year appropriations act. The bill accompanies tax measures and includes significant provisions […]
“If you’re considering moving when you retire, have you considered the potential tax issues?” Eric Coons Many retirees choose to move after retiring, whether to be closer to kids and grandkids, enjoy more leisure activities, or make their retirement dollars go further. However, if you’re thinking of relocating, be sure you don’t focus solely […]
Women need to understand their rights in a divorce “The impact a divorce has on women’s finances cannot be overstated. The financial literacy gap, the lack of involvement in long-term financial planning during their marriage, and their higher likelihood to end up in poverty place divorced women in a vulnerable position.” -Worthy.com If you’re a […]
An executor is the person responsible for managing the administration of a deceased individual’s estate. Obligations can vary from state to state and the size of the estate can determine the responsibilities that will be needed.
In today’s world, especially the digital world, people constantly leave behind little pieces of themselves. These pieces, while small, are a part of a larger picture, your identity. Please do not underestimate the resourcefulness of identity thieves, and your trash might be their treasure. According to the Federal Trade Commission, over 800,000 identity theft […]
In a perfect world, your will would be drawn up, your assets would be distributed in a timely, no-hassle fashion after your death, and your family would be immediately able to enjoy the financial legacy that you spent your life creating for them. Unfortunately, no one lives in a perfect world, but a beneficiary-controlled trust can help ensure that your children will have access to their inheritance in a way that is faster, and is legally protected longer-than some of the more traditional methods. A Beneficiary trust is long-term many states allow this type of trust to remain in perpetuities for at least a century, if not longer. A Beneficiary trust also maintains a structure that protects assets from creditors, false-heirs, ex-spouses, and any other potential beneficiaries and parties not named by the trust.
Use Legacy Arbitrage to extend benefits to heirs Definition of ‘Arbitrage’ from Investopedia “The simultaneous purchase and sale of an asset to profit from a difference in the price. It is a trade that profits by exploiting price differences of identical or similar financial instruments, on different markets or in different forms. Arbitrage exists as […]