A few years ago, a renowned firm in the community organized an estate planning seminar, attracting many retirees. The event stood out for its lack of exaggerated promises, a common pitfall in such workshops, and the firm’s apparent expertise was commendable. However, a concerning trend emerged: every client received similar estate planning documents regardless of … Read more
At the beginning of 2024, Social Security beneficiaries witnessed a substantial 8.7% increase in their benefits. This cost-of-living adjustment (COLA) was the most significant in several years, driven by the intense inflation experienced in 2024. Now, beneficiaries are keen to discover the COLA for 2024. Their wait will soon be over. The BLS (Bureau of … Read more
When considering wealth management, inheritance trusts have emerged as pivotal tools, especially for families spanning multiple generations. While the term might sound intricate, it’s fundamentally about safeguarding assets and orchestrating their efficient distribution. Plus, the added advantage of potential tax savings is fortifying your family’s financial foundation. Understanding Inheritance Trusts An inheritance trust, often called … Read more
The IRS has once again decided to delay certain required minimum distribution (RMD) rules, offering taxpayers relief from confusing regulations surrounding RMDs for inherited IRAs. This recent change brings important implications for beneficiaries who inherited IRAs. In recent years, legislative changes have significantly altered retirement plan rules. For instance, the SECURE Act of 2019 eliminated … Read more