We finally solved one of the missing pieces of the puzzle. After years of seeing estate plan documents go missing, destroyed or misplaced we've created cloud lockers as a place to store your documents and preserve them from all types of difficulties so that they remain ready for your family when ...
👨👩👧 Nobody will ever love or know your children better than you do. And it's going to be really hard finding a guardian who matches all of your opinions when it comes to religion, money, values, etc. So how do you make sure that your guardian knows how you want your children to be r...
“My husband just passed away. What do I do?” Taking action after your loved one passes can be tough and confusing. So we made this simple checklist of what needs to be done within 30 days. Please share with anyone who you feel might need it, or is going through the grieving proces...
Did you know?? These two documents sound the same, but they are completely different legal documents that serve separate purposes. A Living Will describes your medical wishes if you're unable to express them on your own. A Living Trust is used to transfer property to loved ones outside of the ...
Clients routinely want a no-contest clause in their estate plan just in case someone wants to challenge the estate. However, in the state of California there is not going to be an exclusive bar to challenge and there are some instances where you need to keep the option open for your beneficiary; ...
This new type of currency or investment has added to the list of estate planning mistakes and is why it pays to hire professionals. This estate planning mistake is so costly and why we encourage our clients to make their passwords accessible (digitally in an online vault) to their Successor Trust...
Under previous law, a non-spouse beneficiary could take distributions from an inherited IRA over the beneficiary's life expectancy, resulting in advantageous income tax deferral (we called it the “stretch”). Under the SECURE Act, the “stretch” for most non-spouse beneficiaries has been reduced to...
A taxpayer may arrrange his business affairs in a way to minimize his taxes; and if such arrangements are not shams, the courts should be hesitant to disregard form and exalt substance. Haley v. United States, 400 F.Supp 111 (1975). Just as a taxpayer may structure his affairs to minimize ta...
The SECURE Act expands the definition of qualified higher education expenses to include student loan payments and costs of apprenticeship programs, leaving more options for families. The funds in a 529 can also be used to pay for room and board, books and supplies, special services, and computers...
As a senior you should plan to protect your health no matter where you might venture. If you currently have Medicare or a Medicare Advantage plan, you shouldn't have any problems getting the care you need anywhere in the US. It's when you decide to travel outside the US that you'll likely encount...
We are nearing the end of 2019 and the opportunity to give for this year. If a person has reached the age of 70.5 they can make cash donations to charities that are approved by the IRS that are outside of the scope of their IRA. These qualified charitable distributions will allow a person to red...
Holiday shopping is underway for many with “Black Friday” and “Cyber Monday” already behind us. One small question you might ask yourself is whether you should pay for your items with a credit or debit card. There's a lot of debate about whether you're better off using a credit or debit card b...
More often than not, whenever a presidential election year is underway, you will hear a lot of news anchors and financial analysts will talk about the economy and the stock market. There will often be self-proclaimed experts who have their theories about how a presidential candidate will affect t...
Would you like to file for bankruptcy ASAP, without paying a penny up front? You see, most bankruptcy attorneys require you to save up for months or years, so you can pay your attorney's fees up front before you file for bankruptcy...but who wants to endure the aggravation of harassing phone ca...
The 2020 contribution and benefit limits have been released by the IRS. The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan is increased. The following limits are applicable to 401(k), 403(b), most 457 plans, an...
In most cases, the actions of the Federal Reserve lowering interest rates are a good thing because a lot of economic activity depends on the ability of businesses to borrow money. It is of course easier to borrow when interest rates are lower, but lowering interest rates too much could affect inv...
The IRS does a good job of providing the country's elder statesmen with ways to save for retirement. Some of the most popular investment vehicles the IRS provides access to for the benefit of US taxpayers include 401(k) accounts and a variety of IRAs. While both of these options provide a varie...
If you have a retirement account, the IRS requires you to take annual minimum withdrawals, called RMDs, once you reach age 70 ½. Learn about common mistakes, how to calculate RMDs, and the benefits of consulting a financial professional to avoid costly penalties.
Review California homestead protection: annual exemption adjustments, automatic and declared homesteads, sale proceeds, liens, and home-equity planning.
U.S. immigration laws provide a multitude of options for Singaporean and U.S. companies and individuals to engage in trade and commerce. These options may also allow for individuals and employees of corporate entities to seek permanent residency in the United States. The corporate client may wi...
Long Term Care (LTC) insurance helps safeguard retirement savings from the high costs of nursing care and at-home assistance. Learn how daily benefits, inflation adjustments, and tax-free options can work in your favor and discover when enrolling in LTC insurance makes the most financial sense.
The largest wealth transfer in the history of the world is currently in process. It's estimated that around $68 trillion will switch hands over the next 25 years. Baby Boomers are currently retiring, and many of them will pass of the scene within the next few years. Much of this wealth will be ti...
Medicare Open Enrollment is your annual opportunity to adjust your Medicare coverage. From October 15 to December 7, explore switching between Original Medicare and Medicare Advantage, adding Part D coverage, or reviewing your current plan to ensure it meets your needs for the upcoming year. Here’s a quick guide to help you through the process.
Although we assume many of our readers know what a 401(k) and an IRA are, let's cover these quickly. What is a 401(k)? 401(k) retirement, savings, and investment accounts are places to store money in which your contributions are typically matched – a portion of those earnings, usually not all of...
The US Internal Revenue Service has announced an extension of the deadline for special voluntary disclosures by taxpayers with unreported income from offshore accounts. The extension, announced by the IRS on September 21, gives taxpayers until October 15, 2009, to make a disclosure. Under special...