You could be unintentionally reducing your family’s wealth potential if you do not properly designate the beneficiaries of your IRAs. Improper estate planning could mean that your IRA assets could pass to the wrong people or entities, so how you execute your beneficiary designations is critically …Read More
As a Family Wealth Lawyer, I'm often asked to help people who inherit a retirement account. The action you need to take with an inherited IRA depends upon your unique situation; the IRS has rules for each and recently announced that they will be cracking down on taxpayers who make mistakes with in…Read More
You’re never too young or too old to save for retirement. Here are some guidelines by age group: Under 25: If you graduated from college with debt, you're certainly not alone – the average debt burden is currently $26,500 for 65 percent of college graduates. Once you are able to get a good job…Read More
The days of working for a single employer for decades until you retire are over. Today, you are much more likely to change jobs multiple times during your career. According to the Bureau of Labor Statistics, today’s workers have held an average of 12 jobs by the time they reach their 50s. Since pe…Read More
The SECURE Act’s Impact On Estate and Retirement Planning In the first part of this series, we discussed the potential ramifications the SECURE ACT has for your estate and retirement planning. Here, we’ll look more deeply into additional strategies you may want to consider in light of the new le…Read More
The SECURE Act’s Impact On Estate and Retirement Planning On January 1, 2020, the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) went into effect, and it represents the most significant retirement-planning legislation in decades. Indeed, the changes ushered in by the SECURE…Read More