The Differences Between Estate and Inheritance Taxes
Estate tax is levied against someone’s estate upon death and is based on the size of the total estate. Inheritance tax is levied against the heirs of an estate.
It Takes Planning to Reduce Your Medicare Premiums
With appropriate income withdrawal strategies, a retiree can lessen their exposure to IRMAA surcharges.
The Importance of Reporting to Credit Agencies After Death
It is the responsibility of the surviving spouse or the estate’s executor to notify lenders on joint accounts, to close out accounts in the deceased’s name, and to notify the three major credit agencies.
Estate Planning Essentials Part 3: Protecting Beneficiaries from Themselves
Studies have shown that some heirs ultimately end up in worse financial shape after receiving an inheritance. This is so common that psychologists call it sudden wealth syndrome, although it is not an actual psychological diagnosis.
Estate Planning Essentials Part 2: Are Trusts Needed for Minor Beneficiaries?
Trusts can be an essential part of your plan—but they are often complex and time-consuming to set up.
Power of Attorney Roadblocks: Can You Answer These Three Questions About Your POA?
You may be shocked to learn that new national and state laws may have prohibited your agent’s power to act.
Estate Planning Essentials Part 1: Take Time to Prepare the Heir
The mechanics of estate planning can be easy enough, but the big picture requires a lot of thought and soul searching.
You May Be Able to Reduce the Taxes from Inherited Assets
If you’re the beneficiary of retirement accounts or other inherited assets, it pays to learn about the IRD deduction.
Passive Investing: Index Mutual Funds vs. Exchange-Traded Funds (ETFs)
The difference can be summed up in two words: intraday trading. Unlike mutual funds, ETFs can be bought and sold anytime throughout the day.
Evaluating Where to Retire: Pennsylvania Vs. Surrounding States
Affordability, access to healthcare, climate, and culture are just some of the important factors to consider before moving to another state.
529 Plans: Know the Rules for K‑12 and College Qualified Expenses
529 plans can be a good option for both college and K‑12 savings. But to avoid paying taxes or early withdrawal penalties, it’s vitally important to keep up with any changes to the rules.
How to Determine Your Bond-to-Stock Asset Allocation
One way is determining your risk tolerance.
Why is Time-Weighted Return a Good Way to Track Performance in Retirement?
Learn why we use time-weighted return as a reporting metric and see how it gives you an accurate picture of portfolio changes over time.
5 Ways to Minimize Your Retirement Income and Maximize Health Insurance Tax Credits
Depending on your income and household size, you may qualify for federal tax credits, a combination of credits and subsidies, or Medicaid.
The Three Things That Matter Most in Our Retirement Investment Strategy: Allocation, Allocation, Allocation
The myth that security selection and market timing are keys to investment success may drive many to make poor investment decisions.
Non-working Spouses Can Contribute to an IRA: Here’s How
Income earned by one spouse can be used to fund retirement accounts for both spouses.
Why Chasing Yield Is a Bad Idea
A better overall strategy is to invest for total return.
Prudent Withdrawal Rate
Even if the probability of success for a 4% withdraw rate is less than some thought, it’s still strong when your portfolio is monitored actively.
Tax Benefits of Continuing Care Retirement Communities
Don’t overlook these benefits.
Reducing Future Taxes – What is Form 8606?
And what should you do if you have forgotten to file Form 8606?
