If you want to leave your home to your children or other heirs and keep the property out of the costly and time-consuming probate process, you could place your home in a living trust. Trusts offer numerous advantages, but they incur up-front costs, often have ongoing administrative fees, and involve a complex web of tax rules and regulations. More ...
We started 2025 on a high note, although we acknowledged that “no market environment is ever permanent, and that change is always potentially around the corner.” Well change did come, and with it, volatility, perhaps in part because we assumed President Trump’s policies would simply mirror those of his prior term. The impact of policy direction has...
Many people begin looking into tax-advantaged 529 plans soon after the arrival of their first baby. But it can be daunting for a first-time saver (and sleep-deprived parent) to sort through the many different options, rules, and tax angles these accounts involve. In this article, we explore the basics of 529 plans and highlight some risks you shoul...
Understanding and implementing financial wellness techniques is essential for effectively sharing wealth with the next generations. Here are some tips to help manage generational wealth transfers more confidently. 1. Participate in Estate Planning A vital pillar for managing generational wealth transfer is thorough estate planning. An estate plan s...
The percentage of adult Americans who invest toward retirement is nearing an all-time high at over 63%.¹ These days it is far easier to pursue different investment instruments to manage and preserve wealth and over the past few decades the average working person has realized that investing isn’t only for the rich. Whether you are new to investing o...
Medicare is complex with many different moving parts involved. First and foremost, it is always beneficial to gain a solid understanding of your options. There are two main types of Medicare: Original MedicareMedicare Advantage (also called Part C)—Medicare Advantage is a Medicare-approved plan from a private company offering a replacement option f...
Divorce can significantly change life and has considerable implications on taxes. Here are the steps to help navigate filing taxes the first year after divorce. Understand your Filing Status. Single - Single status may be appropriate for taxpayers not qualifying for other filing status. Head of household - Head of household status typical...
Retirement is part of life, however, many wonder if they are ready. How do you know when it's time? Sources: BrainyQuote, Businessinsider.com, Cnbc.com LPL Tracking #650681