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Is the IRS Waiving the 60-Day IRA Rollover Deadline?
Is the IRS Waiving the 60-Day IRA Rollover Deadline?
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Until now, if you took a distribution from your employer sponsored plan, such as an IRA or 401(k), with the intention of making a 60-day rollover, but missed the deadline, the tax impact could be devastating. In most cases, the rollover would become invalid and you end up with a distribution that counts as a taxable event. But in a surprising move
Don’t Lose Your Money to Escheatment Laws
Don’t Lose Your Money to Escheatment Laws
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Escheatment is the process by which a state government assumes ownership of unclaimed or abandoned accounts. Its intended purpose was to help handle situations in which the owner of an account had died and had no heirs or beneficiaries – but it has evolved into something more complicated. After a specified period of inactivity, which for many
The Risks of Investing
The Risks of Investing
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Risk and investing go hand in hand – no matter how safe you think your investments may be. A good investor will try to minimize their risk as much as possible without also reducing their potential rewards – but even the wisest investors must face the occasional downfall. What exactly is risk? It is any uncertainty in your investments th
Withdrawal-Rules-for-3-Popular-Savings-Accounts
Withdrawal Rules for 3 Popular College Saving Accounts
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When saving for your child or grandchild’s college education, there are several types of education savings accounts to choose from. Three of the most popular college savings accounts are Uniform Gift to Minors Act (UGMA)/ Uniform Transfer to Minors Act (UTMA) accounts, 529 College Savings Plans, and Coverdell Education Savings accounts. Each type h
5 Living Trust Mistakes to Avoid
5 Living Trust Mistakes to Avoid
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For most people, a living trust can be a helpful estate planning vehicle with numerous benefits – including avoiding probate court at death and incapacity. But if not careful, a small mistake can keep your trust from working the way it was intended. These mistakes can lead to costly probate proceedings or even a transfer of your estate to the
What is a Donor Advised Fund and Why Might You Use One?
What is a Donor Advised Fund and Why Might You Use One?
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When giving to a charity, you want to be smart and effective with your charitable contributions. One way to do that is by using a donor advised fund (DAF). A donor advised fund is a charitable investment vehicle that is sponsored by a public charity. One potential benefit of a DAF – your charitable contribution is eligible for an immediate tax dedu
Divorce and Social Security Benefits: What You Need to Know
Divorce and Social Security Benefits: What You Need to Know
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While you may think all ties have been severed between you and your ex, one link may still exist – and that’s your Social Security benefits1. Depending on if you meet the 5 necessary criteria, you may be entitled to up to half of your ex’s benefits if they are higher than your own. Choosing to take your benefits as an ex-spouse could mean thousands
6 Important Life Events that Need Financial Planning
6 Important Life Events that Need Financial Planning
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Whether they’re good, bad, or somewhere in between, there are certain life events that should have a financial plan. According to a study done by the Retirement Income Industry Association (RIIA), households that regularly get advice before making a financial decision fare better than those who rarely or never get advice1. The study, done over a te