Does Potential IRS Change Have an Impact on Estate Plan? – Annapolis and Towson Estate Planning
The IRS is weighing a change that could leave your heirs poorer than you might hope.
The Future of Your IRA and How the SECURE Act Changed the Rules – Annapolis and Towson Estate Planning
The Setting Every Community Up for Retirement Enhancement (Secure) Act upended inherited IRAs for most non-spousal beneficiaries. The 10-year rule for withdrawing from inherited IRAs eliminated the ability to stretch inherited IRAs for these beneficiaries.
How Do IRAs and 401(k)s Fit into Estate Planning? – Annapolis and Towson Estate Planning
Investing for retirement is one of the most important steps you can take toward building a secure financial future for you and your family. The sooner you can start, the better. Contributing to a retirement account can help you work toward your goals and may provide tax advantages to boost your progress.
What Happens Financially when a Spouse Dies? – Annapolis and Towson Estate Planning
When you lose your mate, you lose so much—your best friend, your equilibrium and your future together. Just when you’re at your lowest, it hits you: You could lose a lot of money, too.
What Is the Best Way to Leave Money to Children? – Annapolis and Towson Estate Planning
Providing for future generations shouldn’t be (overly) taxing. To manage taxes as you pass down your assets, look into UTMAs, 529s, child IRAs and trusts.
Should I Have a Roth IRA? – Annapolis and Towson Estate Planning
Roth individual retirement accounts allow you to pay income tax on your retirement savings upfront, so you won't be stuck with a tax bill in retirement when you can least afford to pay it.
Can Estate Planning Reduce Taxes? – Annapolis and Towson Estate Planning
Once more hesitant to plan ahead, clients in today’s environment are much more proactive and willing to take action in the near term, rather than waiting and risking having to pay higher taxes down the line.
What’s the Best Way to Mess Up Estate Plan? – Annapolis and Towson Estate Planning
Here are the top five mistakes people make that upend their planning.
What to Do with an Inherited IRA? – Annapolis and Towson Estate Planning
Some inherited assets are tax-friendly, but under new rules, others come with a hefty tax bill. We help you get the most out of a legacy.
How Much can You Inherit and Not Pay Taxes? – Annapolis and Towson Estate Planning
Unless you spend your winters in Aspen and your summers in the Hamptons, you probably don’t have to worry about paying federal estate taxes on an inheritance. In 2021, the federal estate tax doesn’t kick in unless an estate exceeds $11.7 million.