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Articles Posted in Financial Planning

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The Secure Act and Your IRA

The Secure Act governs distributions from IRA’s and other retirement plans. After the death of the account holder, most named beneficiaries are required to take the funds out over ten years. While the IRS has not finalized the regulations, the safest approach is to take minimum distributions for the first…

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Social Security in 2022 and Beyond

The Social Security Program is 86 years old and has become a fundamental aspect of how many aging people pay for expenses. Despite its vast importance, social security is full of challenges and weaknesses.  Estate planning professionals once referred to a “three-legged stool” for retirement planning in this country.  The…

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What Should You Do After a Loved One Passes Away?

When a person passes away, survivors almost always remember the need to take several important actions. Often, some of these actions are time-sensitive and must be performed within a narrow time window. Given the substantial emotional repercussion of losing a loved one, the process is often overwhelming and can even…

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Taking the Time to Review or Create an Estate Plan

Each year, it’s important for anyone interested in planning for the future of their assets to either create or revise their estate plan. Taking the time and including loved ones in estate planning discussions is the best thing that you can do to avoid conflict or estate planning disagreements.  Estate…

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Avoiding Undesirable Estate Planning Situations

TV shows often depict unpleasant estate planning situations that can arise including a deceased person leaving assets to a former spouse. While these situations often do not occur in the way depicted on TV or film including the recent Netflix film I Care A Lot, a former spouse could end…

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The Advantage of Utilizing SPA Trusts in Your Estate Plan

In times of economic uncertainty, estate plans can benefit substantially from flexibility. As the country both continues to recover from the COVID-19 pandemic as well as face the challenges brought on by new strains of COVID-19, it’s a good idea to consider how to make your estate plan flexible. Not…

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Considering Medicare Advantage Plan Alternative

Approximately, 26.9 million Americans are enrolled in Medicare Advantage Plans as of January 2022. While many people are content with their plans, not everyone is. Individuals have between January 1, 2022, to the end of March 2022 to make revisions to their Advantage Plan. During this period, a person can…

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