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When a Marriage Ends, What Happens to Your IRA?
When a Marriage Ends, What Happens to Your IRA?
Though no one likes to admit it, divorce is a very real possibility for many marriage in the U.S. – with between 45 % estimated to fail*. It is undoubtedly a stressful occurrence, but it’s important to not let yourself be taken advantage of. There are a number of financial traps the unsuspecting can fall into, especially when it comes to your IRA o
Tax Advice for Hurricane Victims
Tax Advice for Hurricane Victims
As a business with one of our locations in Florida, we are all too familiar with the ways a hurricane can flip your life upside-down. This year has already been devastating, with both Hurricane Harvey and Hurricane Irma ripping through Texas and Florida.   Thankfully, for those affected by natural disaster, the IRS offers some relief. It
Why Many Trusts End Up Failing
Why Many Trusts End Up Failing
A trust can be a powerful estate planning tool – protecting your assets from creditors, shielding your estate from loss, safeguarding benefits for the disabled, avoiding probate costs – we could go on. And yet, many trusts fail to work the way they were intended to! So what makes a trust fail? We’ll talk about some of the most common mistakes we se
Caring for Your Pets Once You’re Gone
Caring for Your Pets Once You’re Gone
Though not an unusual request, we realize that estate planning for a pet or pets is not all that common. For many people, their pets are viewed as members of their family, and are treated as such. So even though you can’t leave money or property to your pet as you could a normal beneficiary, you can still plan to make sure your pet has a good life
How Long to Hang On to your Financial Statements
How Long to Hang On to your Financial Statements
When preparing for our financial planning meetings, we occasionally ask clients for various financial statements - be it insurance statements, tax returns, etc. At times, we’ll request to see documents that go a few years back. And during tax season? If you’ve ever been audited by the IRS, you better believe they’re going to ask for anything and ev
What is Risk Tolerance and How Do You Determine Your Own?
What is Risk Tolerance and How Do You Determine Your Own?
Thinking about risk in investing can elicit a number of emotions. Does it mean the opportunity for great returns? Or does it bring up thoughts of being left with nothing? Or to you is investment risk not exciting at all, just an inevitable part of the investment process? Asking these types of questions can help you better understand what your risk
Inflation: Retirement’s Silent Killer
Inflation: Retirement’s Silent Killer
Let’s take a step back in time – where were you in 1980? Remember it like it was yesterday? In 1980 the average cost of a new car was $7,210. Today on average you’ll pay about $33,000! And we’re sure you’ve noticed the substantial change in gas prices. These staggering price differences are due to inflation – and it can have a big effect on your pu
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Financial Mistakes Saved by Our Red Flag Audit®
At Walsh & Associates, one of the most valuable services we offer is our Red Flag Audit® (RFA®). Just as a red flag indicates that conditions are unsafe, our Red Flag Audit® is an opportunity for us to show our clients those things in their financial environment that could be “unsafe”. Over the years of providing this service, we’ve come across