Although uncertainty surrounding the likelihood of tax reform continues for the moment, there are still several wealth transfer strategies that can be considered by those wanting to make gifts.
Married people in second marriages with prior children often have to balance the future well-being of their spouse with that of their own children.
Figuring out when to claim Social Security is one of the most daunting challenges of retirement. In some cases, claiming early makes sense. In many other situations, it pays to wait.
If you’re helping an aging parent navigate Medicaid because they don’t have long-term care insurance or you think you’ll need it yourself someday, it’s important to understand how the program works.
A decade ago, the late Rush Limbaugh scoffed at the notion of leaving any of his money behind.
If you have been thinking about making large gifts to take advantage of the current $11,700,000 lifetime federal estate tax exemption, you have probably been contemplating a spousal lifetime access trust, commonly known as a SLAT.
All you have to do is type ‘maximize Social Security’ into Google or any other search engine and you will get hundreds, if not thousands, of hits.
By being very selective about who receives which type of money—whether Traditional or Roth IRAs, after-tax brokerage accounts, life insurance, etc.—you can dramatically cut the share that goes to the IRS and increase the amount going to your family.
There’s plenty of frightening data on retirement planning in the U.S., even before you consider COVID-19.
When a house is sold, the seller is responsible for paying tax on the profit in the year of the sale.
Now that there is a Democratic majority in the Senate and the House of Representatives, estate and gift tax law changes are expected to occur in 2021 or 2022.
Tony Bennett has revealed that he has been living with Alzheimer’s Disease for the last four years.
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