Category Archives: 529 Savings Plan
Incorporating Gifting with an Estate Plan
Kiplinger’s recent article entitled “Gifting sounds pretty simple, but there are many ways to do it, and several tax ramifications to be aware of as well” explains that no matter if a gift is made this year or in future years, there are some important questions to consider. Increased exemption. The Tax Cuts and… Read More »
Protecting Adult Children with Disabilities
One in four Americans has some kind of disability, and an increasing number of children are being diagnosed with some form of autism. The life expectancy for people with Down syndrome has increased from living to age 12 in the 1940s to nearly 60 today. Most children born with cerebral palsy live into their… Read More »
SECURE Act Means It’s Time for an Estate Plan Review
The most significant legislation affecting retirement was signed into law on Friday, Dec. 20, 2019. After stalling for months, Congress suddenly passed several bills, as attachments to budget appropriations, as reported by Advisor News’ article “SECURE Act, Signed by Trump, A Game-Changer For Retirement Plans.” Here are some of the key points that retirees… Read More »
Retirement and Estate Planning Work Better Together
So, you’ve been married for a while, and you’re both comfortable with which bank accounts, credit cards and investment accounts are shared and which other accounts are kept separate. However, where the big picture is concerned—like coordinating retirement plans, health coverage and tax planning—you both need to take an active role in planning and… Read More »
Holiday Season Ushers in Thoughts of Family and Sharing
For many families, the holiday season is a time to reflect on the joy of family and the fun of getting everyone together, even if these gatherings can only take place a few times a year. It’s also the time when families often consider sharing their good fortune, according to the article “Share your… Read More »
Retirement and the SECURE Act
The numbers for most Americans entering retirement are not encouraging, with one in three retirees having no money left at the end of the month and needing to dip into savings to pay monthly bills, according to Next Avenue’s article “Will the SECURE Act Really Bring Retirement Security to Older Americans?” With record numbers… Read More »
What Do I Need to Know About ABLE Accounts?
Millions of Americans with disabilities and their families depend on public benefits to help provide income, health care, food and housing assistance. Eligibility for assistance through Supplemental Security Income, SNAP and Medicaid is based upon a resource test, so disabled individuals seeking benefits are typically limited to no more than $2, 000 in savings… Read More »