Post Archive

How To Use 529 Plans To Leverage A Wealth Transfer

The 2017 Tax Act improved 529 plans, adding provisions that allow plan balances to be used to pay K-12 tuition.  Prior to 2018, 529 funds could only be used to post-secondary educational expenses.  Here are some new wealth transfer strategies that 529 plans can now fulfill. Intro to 529 plans First, a couple of basics…

Read More

Implementation: Avoiding Common Estate Planning Mistakes

You met with your attorney.  You signed a will, trust, or beneficiary designations that direct your assets in the manner you want.  But there’s still one key piece missing – titling your accounts correctly, updating your beneficiaries, and following through on implementing your plan. One of the common misconceptions when working through an estate plan…

Read More

Estate Planning Tip: Creditor Protection for IRAs & Beneficiaries

This article was originally published on Forbes on December 9, 2016. Individual Retirement Accounts (IRAs) are great tax-deferred savings vehicles, but tax deferral isn’t the only benefit IRAs offer. One potential benefit is creditor protection in the event of a bankruptcy. But when you pass away, are your beneficiaries protected? Investors should know how their assets…

Read More

Why Do I Need A Will for Estate Planning?

Wills and Estate Planning

Jim and his wife had a falling out. During a lengthy legal process, their divorce was not yet finalized when Jim passed away suddenly. He assumed his house, bank account, and investments would all be left to the kids, but depending on the state, those assets could be left in part or in whole to…

Read More

Estate Planning Strategies: How Your Financial Advisor Can Help

I’ll bet most people look forward to meeting with their attorney about as much as they look forward to a root canal. Working with an estate attorney is often one of the first – and sometimes only – legal relationships many families experience. And it can be a daunting experience to build effective estate planning strategies. However the truth is, just meeting with…

Read More