While a will is a far more complicated document than a note, leaving a will for your family is not only a considerate move on your part; it may prevent your family from dealing with several hurdles and complications after your eventual passing. It’s a good idea to think carefully about making a plan for you and your estate when you die.
Living trusts are created with a clearly defined objective: to avoid probate. Misconceptions about living trusts have spread to the point where people think trusts can accomplish much more than they are designed to. But if you are worried about your will being contested or your heirs fighting over your assets, a revocable living trust may be your best option.
I have had many clients not realize their social security could be taxable. So when you are talking to your advisor about retirement planning, make sure you consider the taxation on all your money. This is why it's so important to have different buckets of money that is taxed differently. Here is the formula to help figure out how much of your Social Security could be taxable.
There are many misunderstandings about what an advisor will do for you. I plan to share the top 5 values a GOOD advisor can bring you.
One of the common questions I get from an ND is how to start a retirement plan for themselves and their employees, and which one to choose. There are many types of plans out there and so it can be confusing or overwhelming to make a choice. This can then cause no choice to be made.
I have designed hundreds of Financial Plans. Most of these plans are built around having different buckets of money. This article will explain those. Unfortunately, most only have 2. They are missing the 3rd.
According to the US Department of Education, the total amount owed in federal student loans was $1.37 trillion in 2017, and education costs continue to rise.1 Many people pursuing a college education may find themselves taking out student loans and may also wonder if they should refinance their student loans to save money on interest.
The new year is here, and your resolutions are probably well underway. While you may set goals to get more physically fit, it is also important to consider your financial fitness going into the new year. If your finances are not where you want them to be, or maybe they need a little tune-up, the six tips below will help you get your finances in shape.
Reaching retirement can feel like crossing the finish line at the end of a 30-, 40- or even 50-year-long marathon. Therefore, many of us look forward to the endless vacation days and the rest and relaxation of retirement. Although a life with no alarm clock is something we dream about, the truth is that retirement really throws a wrench in how we view our money, and the switch from receiving structured, employment-driven income to drawing down investment accounts can be harder than we realize.
When it comes to compensation, many companies are now providing equity and stock-based benefits to their employees. Each type of benefit has its own set of rules, and it’s essential to understand the nuances of each type. One form of equity-based compensation is restricted stock units (RSUs).
The estate planning process can feel overwhelming and forever ongoing - especially if you’re taking it on alone. As you try to address every possible question or pain point your heirs may encounter, here are a few questions of your own to consider.
There are a lot of questions about President Biden’s Build Back Better plan and potential tax law changes, including an adjustment to capital gains taxes. One of the proposals Congress is considering sets the top rate for taxing capital gains at 25%, up from 20% under current law. Another would raise the capital gains tax rate to 39.6% for taxpayers earning $1 million or more. Still another would make the change to capital gains tax retroactive, with a start date of April 2021.
