With the passage of the “One Big Beautiful Bill” one of the largest outstanding questions in estate planning has been settled (for now at least). The exclusion amount for gift and inheritance taxes is now set at $15 million dollars per person in 2026 and will be increased with inflation beyond that. A married couple…
Don’t worry, we don’t sell life insurance. We empower our clients to think strategically about insurance and give them the tools to evaluate the benefits and drawbacks of different types of policies and how they might approach insurance as a financial solution tailored to their needs. From financial planning, income and estate tax planning, asset…
Traditional Individual Retirement Accounts (IRAs), which were created in 1974, are owned by roughly 41 million U.S. households. And Roth IRAs, created as part of the Taxpayer Relief Act in 1997, are owned by nearly 32 million households.1 Both are IRAs. And yet, each is quite different. Up to certain limits, traditional IRAs allow individuals…
According to Bankrate, a study by the Transamerica Center for Retirement Studies found that 57% of workers across all generations plan to work in retirement. While many of us spend years looking forward to this next chapter, retirement often turns out to be quite different from what we imagined. The truth is, retirement isn’t a…
As a parent, you of course want to give your child the best opportunity for success, and for many, attending the “right” university or college is that opportunity. Unfortunately, being accepted to the college of one’s choice may not be as easy as it once was. Additionally, the earlier you consider how you expect to…
If you’re like many small business owners, running your own business is an all-consuming endeavor. In the face of everyday demands, choosing a retirement strategy for your business can become a casualty. The idea of establishing a plan could evoke worries about complicated reporting and administration. If this sounds familiar, then you may want to…
If you’re looking for a clear checklist of what to do when a spouse dies, you’re not alone. Losing a spouse or partner is one of life’s most heartbreaking experiences. Amid the grief, you may find yourself facing a daunting list of actions needed and the process can feel overwhelming. Below is a practical checklist…
Have you been named as a beneficiary to an individual retirement account (often referred to as an IRA)? You may not be aware you’ve been named as a beneficiary until a loved one or someone close to you passes away. According to a Cerulli Research Report, almost $100 trillion of wealth will be passed down…
Stock based compensation has become increasingly popular because of the advantages to both the companies and the employees. However, many highly compensated individuals find themselves in a situation where they are wealthy on paper – yet unable to protect that wealth. Investors who have spent their lives building their careers at a single company may…
Do you know what Jimi Hendrix, Aretha Franklin, and Prince all had in common other than music? They passed away without a will or proper estate planning, leaving their families to navigate the lengthy and often stressful probate process. (source) Losing a loved one is hard enough without the added cost, delay, and public scrutiny…