Watching Anthony Bourdain travel the lesser known corners of the world and relish exotic foods and people was fascinating. However, that same approach does not work well, when it comes to more mundane matters, like estate planning. What Anthony Bourdain’s family could have used was a disaster plan, based on…
Articles Posted in Asset Protection
Have It Your Way, With a Will
Without a will, decisions about your life, property and children will be made by someone who does not know you or your family. With a will, you have the ability to express your wishes. You need a will! Having a will is not just for wealthy folks, who need to…
Under New Tax Law, Roth IRAs are More Attractive
The new Tax Cuts and Jobs Act have made the Roth more attractive as retirement savings vehicles. Here are the two biggest tax advantages from Roth IRAs: withdrawals are tax free, and you don’t have to worry about required minimum distributions. According to MarketWatch’s article, “How the new tax law…
Proper Planning for the Distribution of an IRA
The rules for IRA distributions can be complicated. Unforeseen circumstances can make things even more complex. Understand the rules, so the money goes where you want it to. What happens if you designate each of your two adult children as 50/50 beneficiaries of your IRA, and then one of them…
Tom Benson Excludes Daughter and Grandchildren from his Will
Before he died, the owner of the New Orleans Saints and Pelicans gave millions of dollars of property to his daughter and her children, but they were not included in his last will and testament. The last will of multi-millionaire Tom Benson, who owned several professional sports teams and other…
Does Your Estate Plan Match Your Life Right Now?
Remember to update your estate plan, especially if your life includes events like new kids, a new marriage or the death of a loved one. If you love your family, you’ll keep them in mind when considering whether to make an appointment to update your estate, as you go through…
How Estate Planning Protects Your Loved Ones
Estate planning is not just for people who live in mansions. Quite the opposite! Everyone needs to have an estate plan to protect themselves while they are living and to protect loved ones when they pass. Having an estate plan can eliminate confusion, expensive delays and overall bad outcomes, according…
Military Retirement Planning and The Big Decision in 2018
For those who joined the military in recent years, a big decision is looming for their future. They have to make a choice next year between staying in the old retirement system or opting for the new one. Figuring out whether or not to stay with the current military retirement…
Can You Make Charitable Donations from Retirement Accounts Without Triggering Taxes?
If you roll the money over to an IRA first, you can donate funds from your 401(k) Required Minimum Distribution tax free. Be very careful to follow the rules, so that you don’t create a tax or penalty problem. First, let’s define the RMD (Required Minimum Distributions). This is the…
Best Time to Start on a Succession Plan? The Day You Start Your Business
It may sound whimsical, but the moment you open a business is also the time to start thinking about how you’ll exit the business, whether you intend to sell to a partner, leave the entire business to a family member or sell as soon as you come up with the…