Retirement Watch Weekly
RMD Mistakes, Misunderstandings and Myths You Must Avoid
A few years ago, the IRS discovered required minimum distributions (RMDs) were a potential gold mine. A study of tax returns found taxpayers ages 70½ and older made many mistakes with RMDs from IRAs and employer retirement plans. Recent surveys of taxpayers also reveal that many people aren’t well-informed about RMDs. When the IRS finds […]
Electronic Wills Are Coming
Very slowly but surely, estate planning law is catching up to modern technology. The latest development paves the way for electronic wills in most states. An electronic will, or e-will, is one that recognizes the traditional formalities of a will when they’re in an electronic format. An e-will can be written in an electronic medium, […]
Everyone Should Revisit Estate Planning Before the 2020 Election
Most estate planners say the 2017 tax law made the estate tax rules permanent. But permanent doesn’t mean the same thing in Washington, D.C., that it does in the rest of the country. There’s a good chance the estate and gift tax will change substantially after the 2020 election, and you should prepare for key […]
Ethical Wills – How to Transfer Your Values to Future Generations
You have more than the money and property in your estate to leave your loved ones. More and more people are interested in leaving something more meaningful and intangible as part of their legacies. They want to add a more personal element or statement to their estate plans. Estate planning at its most basic is […]
The Essential Estate Planning Questionnaire and Checklist Provides Simple Questions in Preparing for Retirement
Estate Planning is not all about reducing estate taxes. That always was the case, but few people realized the importance of the non-tax factors until the 2001 tax law began the phase out of the estate tax. Every estate plan, regardless of the estate’s size, needs to address certain issues. Ignore these issues, and your […]
What You Need to Know About Social Security Survivor’s Benefits
Survivor’s benefits are one of the most valuable features of the Social Security system. Their downside is that the rules and options can be so complicated that people fail to maximize the benefits. Married couples should know that after one spouse passes away, one Social Security benefit will end; the surviving spouse will receive only […]
How to Decide When to Take Taxable Gains
Investors have a tax conundrum as we approach the end of 2019. Major U.S. stock indexes are hitting record highs. Bonds had a strong run in 2019. Gold has been a strong performer as well. Owners of some individual stocks and other assets have substantial paper gains. But the outlook is shaky to many people. […]
RMD Mistakes, Misunderstandings and Myths You Must Avoid
A few years ago, the IRS discovered required minimum distributions (RMDs) were a potential gold mine for it. A study of tax returns found taxpayers ages 70½ and older made many mistakes with RMDs from IRAs and employer Retirement plans. Recent surveys of taxpayers also reveal that many people aren’t well-informed about RMDs. When the […]
