Carson Wealth

FEBRUARY 8, 2023

On a basic level, if you have an estate plan, you control who will receive your property upon your death. An estate plan can also protect you in the event of an unforeseen life-altering medical emergency. Most Americans need an estate plan of some kind, and most Americans don’t have one.

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Carson Wealth

OCTOBER 25, 2023

Consult with an estate planning attorney in your state for specific guidance. Benefits for Blended Families Trust planning can be one of the most powerful avenues for settling your affairs, taking care of your loved ones and carrying out your wishes. Trusts can be a way around that.

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Carson Wealth

NOVEMBER 28, 2022

Estate planning touches two critical aspects of our lives: It can direct the distribution of property while providing a structure of guardianship and care for ourselves as well as those we love and care for. But many people feel like estate planning happens when you’re older, and that’s a misconception.

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International College of Financial Planning

OCTOBER 26, 2023

The Imperative of Estate Planning: Not Just for the Affluent Often, there’s a prevailing misconception that estate planning is a luxury reserved for the wealthy elite. Real estate planning is a crucial undertaking that every adult and family should prioritize.

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Carson Wealth

JANUARY 3, 2023

Many people believe, incorrectly, that estate planning is for older, ultra-wealthy people. But the simple truth is: If you have property, you need an estate plan. Your estate plan is the key to ensuring your wishes are carried out after you die or you’ve become incapacitated and can’t make decisions on your own. .

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eMoney Advisor

FEBRUARY 22, 2023

And if they’re unprepared—or worse, if the family estate planning strategies are less than buttoned up—how will that affect your practice down the line? The Softer Side of Finance While it may seem easier to use structural solutions to control the transfer of client assets (think trusts, 529 accounts, etc.),

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Estate Planning Planning Education Clients 75

Carson Wealth

FEBRUARY 13, 2023

While there are certainly ways to do estate planning without a lawyer, for most people hiring an estate planning attorney makes the most sense. Estate plans can get complex fast, and even fairly straightforward estates can feel overwhelming if you’re not trained in the area. Do your research.

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eMoney Advisor

MARCH 7, 2023

Fortunately, financial professionals have tools and wealth transfer strategies that can help couples be intentional about the use of their assets in an estate plan. Why Focus on Estate Planning for Blended Families A thoughtful plan and good communication can go a long way in heading off conflict in large families.

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Park Place Financial

SEPTEMBER 8, 2022

ESTATES Family Estate Planning: The 6 Essentials Schedule a Complimentary Financial Review CLICK HERE TO SCHEDULE. According to one survey, 67% of Americans have no estate plan, which may reflect an aversion to thinking about dying or getting gravely ill. Navigate Family Estate Planning with Park Place Financial .

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Park Place Financial

SEPTEMBER 8, 2022

ESTATES The 5 Most Common Estate Planning Myths Schedule a Complimentary Financial Review CLICK HERE TO SCHEDULE. Estate planning is a crucial component of financial preparation for many individuals, as it enables their wealth to have a lasting and meaningful impact on their loved ones.

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Nerd's Eye View

JANUARY 31, 2024

Under the new law, non-spouse beneficiaries (with few exceptions) must now withdraw the entirety of an inherited IRA within 10 years of the account owner's passing rather than over their own lifetimes. This shift has led financial advisors to explore new strategies for mitigating the resulting tax-planning challenges. Read More.

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Abnormal Returns

AUGUST 23, 2023

(papers.ssrn.com) How 529 plan accounts are treated in a divorce. marketwatch.com) Estate planning Estate planning is about showing our love for our families. wealthfoundme.com) More families are at risk from estate taxes looking out into 2025 and beyond.

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Harness Wealth

OCTOBER 23, 2023

Key Takeaways: Accounting advisory services extend beyond traditional tax preparation to offer strategic financial guidance. Specialized areas can include estate planning and tax-efficient investment strategies. Table of Contents What Are Accounting Advisory Services?

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Accounting Taxes Strategic Planning Estate Planning 52

Nerd's Eye View

JANUARY 24, 2024

And while transferring responsibility may be relatively easy for accounts that are jointly titled or held within a trust, other accounts, such as qualified savings vehicles or annuities, require a Power Of Attorney (POA) when delegating decision-making authority to a third party.

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Nerd's Eye View

JANUARY 24, 2024

And while transferring responsibility may be relatively easy for accounts that are jointly titled or held within a trust, other accounts, such as qualified savings vehicles or annuities, require a Power Of Attorney (POA) when delegating decision-making authority to a third party.

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Integrity Financial Planning

MAY 8, 2023

You may know plenty about the differences between traditional IRAs and Roth IRAs, as well as the risks to your IRAs in this market, but what happens to an IRA (or other retirement account) that still has money in it when its owner passes away? 1, 2, 3, 5] [link] [4] [link] The post What Happens to Inherited Retirement Accounts?

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Nerd's Eye View

AUGUST 7, 2023

This month's edition kicks off with the news that estate planning platform Wealth.com has launched Ester, an AI-driven 'legal assistant' that uses machine learning to help advisors quickly review and extract the key information from clients' estate planning documents, as it joins FP Alpha in the competition to become 'Holistiplan for estate planning (..)

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Estate Planning Wealth Management Financial Advisor Planning 205

Nerd's Eye View

SEPTEMBER 6, 2023

Which means that by taking into account a client's net worth, realistic liability risks, and level of sophistication, advisors can help assess what types of strategies may be appropriate for the client to explore. For instance, qualified plan assets (e.g., tenancy by the entireties and community property).

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Education Assets Clients Estate Planning 235

Abnormal Returns

SEPTEMBER 27, 2023

morningstar.com) A first-hand account of the case for hiring a tax preparer. marketwatch.com) Why your estate plan should include this letter. (morningstar.com) There are a lot of decisions to make when it comes to health insurance. genyplanning.com) For the self-employed: how to choose between a SIMPLE and SEP IRA.

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Estate Planning Taxes Insurance Retirement 252

Darrow Wealth Management

JANUARY 29, 2024

Common types of assets that will pass via beneficiary designation include retirement accounts, life insurance, and some pensions and annuities. The most common examples of joint assets are real estate, bank and brokerage accounts. The US has 50 states – each with their own tax laws and estate planning opportunities.

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Estate Planning Distribution Taxes Wealth Management 79

WiserAdvisor

MARCH 13, 2024

Investment planning also plays a crucial role in tax optimization, enabling you to minimize tax liabilities and maximize after-tax returns. Strategically selecting tax-efficient investment vehicles, such as retirement accounts, tax-deferred annuities, and municipal bonds, helps reduce the effect of taxes on your investment returns.

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Retirement Planning Retirement Planning Estate Planning 105

Abnormal Returns

MAY 10, 2023

ofdollarsanddata.com) Some evidence that couple should maintain joint checking accounts. obliviousinvestor.com) How to effectively withdraw money from a 529 plan. wsj.com) When building an estate plan, hire an attorney who specializes in it. (tawcan.com) Behavior Can money buy happiness?

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Math Estate Planning Retirement Banking 226

Nerd's Eye View

FEBRUARY 15, 2023

Health Savings Accounts (HSAs) feature useful tax advantages that make them a popular savings vehicle. One possible outcome of ‘superfunding’ an HSA, however, is that the account owner may not actually use up all of their HSA funds over their lifetime, which can have significant tax consequences.

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Distribution Taxes Medical Accounting 226

Carson Wealth

APRIL 4, 2024

From opening your first checking account to taking out your first car loan, they were always there to guide you. Assessing Their Financial Situation Your first task should be gathering information about all of your parents’ financial accounts and holdings. Your parents taught you everything you know about money. It’s not always easy.

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Management Healthcare Medical Estate Planning 127

Wealth Management

NOVEMBER 29, 2023

Draft estate planning documents with flexibility to account for a future diagnosis.

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Abnormal Returns

JULY 13, 2022

peterlazaroff.com) Estate planning Why you need an estate plan. eightyfour.substack.com) Five things to do with leftover 529 account funds. (standarddeviationspod.com) Peter Lazaroff talks with Brian Feroldi author of "Why Does The Stock Market Go Up?: wsj.com) How a HECM mortgage works.

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Estate Planning Medical Financial Advisor Planning 193

Carson Wealth

OCTOBER 5, 2023

The foundation of your estate plan is a Last Will and Testament. Hire an Estate Planning Attorney For most people creating a will, hiring an estate planning attorney makes the most sense. It’s important to find an attorney who specializes in estate planning. What About a Trust?

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Estate Planning Planning Assets Taxes 130

Abnormal Returns

MAY 8, 2023

(kitces.com) Advisers Some evidence that couple should maintain joint checking accounts. kitces.com) How personality traits affect estate planning decisions. sciencedaily.com) How tax-adjusting a portfolio works in practice. advisorperspectives.com) Advisers need to recognize that clients have different conversational styles.

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Wealth Management Estate Planning Taxes Valuation 220

Abnormal Returns

MAY 22, 2023

citywire.com) Estate planning Can new estate planning platforms put the adviser at the center of the process? investmentnews.com) Why auto-portability of 401(k) accounts will help. (riaintel.com) CI Wealth The stock market did not react well to CI Financial's financial engineering. financial-planning.com)

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Financial Advising Estate Planning Wealth Management Compliance 130

Abnormal Returns

SEPTEMBER 11, 2023

kitces.com) The SECURE Act made Roth IRAs more attractive from a estate planning perspective. thinkadvisor.com) How RMDs on 401(k) accounts are different. financialducksinarow.com) Financial considerations are only one part of planning for retirement. kindnessfp.com)

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Wealth Management Estate Planning Financial Advice Financial Planning 147

Nerd's Eye View

JULY 3, 2023

From there, the latest highlights also feature a number of other interesting advisor technology announcements, including: All-in-one software platform Blueleaf has launched a new “aggregation-as-a-service” solution, promising better client data aggregation capabilities than existing solutions by automating the process of weaving multiple (..)

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Estate Planning Media Clients Wealth Management 228

Advisor Perspectives

FEBRUARY 12, 2024

Most of us associate 529 accounts with college savings. But did you know that a 529 can be a powerful estate planning tool? They’re flexible, allowing you to transfer assets to anyone, including yourself, for the express purpose of furthering the education of your beneficiary.

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Estate Planning Education Accounting Assets 52

Brown Advisory

NOVEMBER 1, 2023

This Present is Accounted For: An Overview of Low-Basis Gifting Strategies achen Wed, 11/01/2023 - 11:20 After spending a career helping clients with tax and estate advice, I often see reminders and lessons about my job in the unlikeliest places.

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Accounting Taxes Assets Valuation 52

WiserAdvisor

AUGUST 31, 2023

A financial advisor can help with maximizing your retirement income through tax planning After retirement, your income sources may become limited to pensions, Social Security benefits, and investment income. They may recommend drawing from various accounts strategically, considering the tax implications of each source.

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Abnormal Returns

OCTOBER 10, 2022

(riabiz.com) Fidelity, Vanguard and Alight are rolling out a service to automate the transfer of retirement accounts between employers. riabiz.com) Taxes Why RIAs love to buy accounting firms. advisorperspectives.com) Only 1 in 3 Americans have an estate plan. (fa-mag.com) fa-mag.com) Risk is unavoidable. Panic is not.

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Wealth Management Financial Advising Estate Planning Taxes 130

Nerd's Eye View

APRIL 8, 2024

accountants and attorneys) to recommend to these clients. Working together, these professionals can conduct a "stress test" of the client's current situation to proactively identify potential areas of weakness in the client's financial, tax, and estate planning.

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Financial Advisor Clients Estate Planning Taxes 130

Darrow Wealth Management

APRIL 25, 2023

In addition to making funeral arrangements and notifying family and friends, another priority is alerting your estate planning attorney and financial advisor. For help finding all the accounts, ask the credit bureaus for a report and notify them of your spouse’s passing. But not everything needs to get done today.

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Estate Planning Taxes Accounting Retirement 73