An ideal estate plan describes your wishes as clearly and completely as possible. This helps others know your requests in the event you’re incapacitated or you pass away. You may even need several types of documents to cover all your bases. A will provides the most widely recognized tool for expressing your final wishes. An advance care directive… Continue reading
If you are age 72 or older, the Internal Revenue Service (IRS) may require that you withdraw a minimum amount from your retirement account(s) every year. This is called a required minimum distribution (RMD). Note: If you turned age 70 ½ prior to January 1, 2020, your RMDs are based on age 70 ½, not… Continue reading
No one expects to be the victim of a disaster, yet every year people find themselves in the midst of fires, floods, earthquakes and other catastrophic events with little, if any, time to prepare. And every year personal and financial records are lost because they can’t be located quickly in an emergency. That’s why it’s… Continue reading
Wills, trusts, powers of attorney — what do all these things mean? No question, estate-planning jargon can be confusing. Yet, having a plan is an important part of your overall financial wellness. Let’s walk through some basic terms, concepts and tools to help you better understand the components of estate planning. A Will Comes First… Continue reading