Is an Ethical Will Right for You?
Documents known as last will and testaments have been around for centuries. The purpose of a last will and testament is to set out what you want to have happen to your possessions …
Year-End Tax Planning—New Challenges and Opportunities
Year-End Tax Planning—New Challenges and Opportunities
Several pieces of legislation have modestly reshaped the 2006 tax landscape. New tax credits, AMT exemption amounts, and “kiddie tax” rules are among the provisions that present both a challenge and an opportunity for …
The Pension Protection Act of 2006
The Pension Protection Act of 2006
Rollovers by nonspouse beneficiaries
Currently, nonspouse beneficiaries who inherit a participant’s 401(k), 403(b), or 457 plan account can’t roll those funds over to an IRA–rollovers are available only to spouses. And while the law …
Ask the Experts: Can I open a 529 account for my future grandchild?
Ask the Experts: Can I open a 529 account for my future grandchild?
Yes, you can open a 529 account before the birth of a grandchild, but you have to do it in a roundabout way.
First, you need to …
Ask the Experts: Does it make sense to consider a 529 plan if my child is only a few years away from college?
Ask the Experts: Does it make sense to consider a 529 plan if my child is only a few years away from college?
It might, because there are several advantages to funding a 529 account no matter what your child’s …
Qualified Personal Residence Trust (QPRT)
Qualified Personal Residence Trust (QPRT)
If you own a home and expect to have a large taxable estate, you may want to consider this popular estate planning tool that can minimize federal gift tax and eliminate federal estate tax.
What …
Health Savings Accounts: Questions and Answers
Health Savings Accounts: Questions and Answers
If you’re concerned about the high cost of health insurance, you may be interested in learning more about health savings accounts (HSAs). An HSA is a tax-advantaged savings account that’s paired with a high-deductible …
Plan for Business Ownership Transitions with a Buy-Sell Agreement
Plan for Business Ownership Transitions with a Buy-Sell Agreement
If you’re a co-owner in a business partnership, closely held corporation, LLC, or other joint venture, consider what would happen if you or one of your co-owners suddenly left the business, …
Ask the Experts: How can I get an estimate of my Social Security benefits?
Ask the Experts: How can I get an estimate of my Social Security benefits?
Every year, about three months before your birthday, the Social Security Administration (SSA) will mail you a Social Security Statement that summarizes your earnings and estimates …
Ask the Experts: What happens if I delay collecting Social Security until after full retirement age?
Ask the Experts: What happens if I delay collecting Social Security until after full retirement age?
You’ll get a bigger check every month if you delay collecting your Social Security retirement benefit. How much bigger depends on which year you …