Estate Planning

Just Inherited a Retirement Account from a Loved One? Here’s How to Keep the IRS from Taking Half

We have all seen the headlines: Baby Boomers are set to pass somewhere between $60-75 trillion — depending on the study — to their heirs over the next 20 or so years. In other words, we are set to witness the largest generational wealth transfer of all time. It is also said that most of…

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Life Insurance Is Not a Financial Plan

These days, life insurance is often improperly sold as a complete financial plan. Life insurance salespeople are generally concerned with the amount of insurance a person has the capacity to pay for rather than the amount of coverage they actually need. As a result, the sales conversation often focuses on the death benefit of the…

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If You Own Property in More Than One State, You Need a Trust

In the world of personal finance, rarely is it possible to find advice that is straightforward and offers a definitive yes or no answer. In this case, however, both apply almost uniformly. Any person who owns real, fixed assets (houses, land, buildings, etc.) in multiple states can save their loved ones months of extra paperwork…

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