Financial Planning

Tips for Being an Estate Executor

By |2020-11-16T09:11:41-05:00November 16th, 2020|Estate Planning, Financial Planning|

Over the years I’ve had clients who knew they’d been named in estate planning documents as executor of an estate, and I’ve had others who found out only after a relative died that they had to settle an estate. In most cases, I’d get a call asking, “What do I do?” Here are some things I’ve learned working with clients [...]

How Much Taxes Will Retirees Owe on Their Retirement Income

By |2020-11-09T10:22:47-05:00November 9th, 2020|Financial Planning, Retirement|

Planning for retirement. We spend most of our working career preparing for it, saving for it, covering every contingency. When you finally wave goodbye to the company, you’re ready for all that planning to take over. But does your planning take into account the taxes you’ll have to pay on your retirement income? It’s one of the biggest retirement planning [...]

6 Financial Tips to Know When You Turn 65

By |2020-11-09T10:17:20-05:00November 9th, 2020|Financial Planning, Retirement|

Planning, planning, it’s all about planning when your goal is retirement. When you hang up your career, you don’t want any surprises, or at least as few as possible. In the 21st century, retirement is completely different than it’s ever been. As a kid, I saw people retire after working 40 or 50 years for the same company. On their [...]

5 Ways to Take Money from Your IRA Without Paying a Penalty

By |2020-10-26T11:49:03-04:00October 26th, 2020|Financial Planning, Retirement|

The IRA is a great retirement savings vehicle; money grows on a tax-deferred basis and that’s a good thing. Eventually, though, you have to pay the IRS piper when you choose to withdraw funds for retirement or when you’re forced to withdraw the Required Minimum Distribution at age 72. Let’s be clear. You can take money from your IRA anytime [...]

Choosing the Right Trustee

By |2020-10-19T11:25:44-04:00October 19th, 2020|Estate Planning, Financial Planning|

You’ve done all the planning. Your trust is set up. You’re comfortable that your estate will be distributed exactly as you want. There’s just one more decision to make—an important one. Who should be the trustee? James J. Ferraro, JD is vice president and legal counsel at Argent Trust Company. He says there is much to consider when choosing a [...]

5 Estate Planning Myths That Can Derail Your Estate Plan

By |2020-10-12T08:07:00-04:00October 12th, 2020|Estate Planning, Financial Planning|

You spend a lifetime earning, saving, acquiring. But the old adage is true—you can’t take it with you. So, what do you do with your assets when you’re gone? How do you want them distributed? That’s where a good estate plan comes in. However, some estate plans are based on ideas that just aren’t true. Plans are made based on [...]

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