There are people who think that they can personally seize total control over matters that involve dynamic outside influences, but the fact is that this is simply not possible. Think back to the financial meltdown of 2008 and you can see how true the above statement is. Many people who had been carefully planning for retirement for years leading up to that time saw their "best laid plans" hit a snag. None of us has a crystal ball, but what you can do is keep a very close eye on all of the issues … [Read more...] about Will Budget Cuts Impact Social Security?
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Reminder: Estate Tax Changes Not Permanent
In estate planning circles, one of the big stories in 2010 was the fact that the Bush era tax cuts were set to expire at the end of the year. If this was to take place, the estate tax exclusion would have reverted back to the $1 million that was in place in 2002, and the maximum rate of the tax would have returned to the 55% that was in place in 2001. To put this in some perspective in 2009, the last time the estate tax was in effect, (it was repealed for 2010) the maximum rate of the tax was … [Read more...] about Reminder: Estate Tax Changes Not Permanent
Incentive Trusts & Your Estate
There are many different ways to arrange for assets to be transferred to your loved ones when you're planning your estate, and the correct vehicle can vary depending on the personal proclivities of the beneficiaries involved. You may have no concerns about leaving a direct inheritance to those who are mature and established in their own right, having demonstrated the ability to handle their own affairs effectively. But, on the other hand, you may have heirs who are not be ready to manage large … [Read more...] about Incentive Trusts & Your Estate
Maximizing Your Social Security Benefit
In excess of 60% of Americans who are receiving Social Security say that they rely on it as their foundational source of retirement income. So if you are among the majority, your anticipated Social Security benefit is probably something that will play a role as you are planning for your retirement years. But even if you have been successful enough to be in a position where you do not really need your Social Security benefit to get by, you certainly paid into the system and it can only help to … [Read more...] about Maximizing Your Social Security Benefit
A Look At Donor Advised Funds
Just last summer, two of the most high profile businessmen of our time, billionaires Bill Gates and Warren Buffett, challenged the nation's richest individuals to give away at least half of their wealth to charity over the course of their lives. Indeed, Buffett himself has already given billions to the Bill and Melinda Gates Foundation so he's certainly walking the walk. Without question, need exists on many different levels and this type of philanthropy can make a very positive impact. Of … [Read more...] about A Look At Donor Advised Funds
