Recent legislation provides unprecedented opportunities to minimize or avoid estate, gift and generation-skipping transfer taxes (GSTT).
Here are the highlights of the most recent tax changes found in the $2 trillion coronavirus relief bill, which the Senate has approved, and the House recently passed.
Life insurance may play a vital role in an estate plan, because insurance proceeds can be counted on to provide liquidity when it’s needed.
Giving appreciated stock shares, donating your RMDs and using charitable remainder trusts are just a few of the options you may not be aware of to help charities and your heirs at the same time.
Research shows that moving 401(k)s to after-tax contributions would boost tax returns in the short term, but leave retirees worse off.
The Secure Act of 2019 eliminated many of the advantages the so-called stretch IRA offered heirs.
These changes are so significant that every such plan holders should review their wishes and how their estate plans may be affected.
Like many investors, you're likely aiming to build a comfortable nest egg to ensure a comfortable retirement. Among retirement financial planners, this is called the ‘accumulation phase.’
As people decide what they should do to benefit their spouses and families, considering life insurance in retirement can help protect, build and transfer wealth in one of the simplest ways possible.
If you miss the deadline for taking an RMD, you’ll be hit with a tax penalty. If you’re retired or have inherited a retirement account, you must take your required minimum distributions by December 31.
