The Wealth Counselor In a landmark, unanimous decision handed down on June 12, 2014, the United States Supreme Court held that inherited IRAs are not “retirement funds.” This ruling is important to you and your family because it means you need to take action to insure your retirement funds are protected when they pass to…
The Wealth Counselor Income tax basis may not be the most exciting topic to read about. However, it is a critically important topic to anyone who owns significant assets. Gaining an understanding of the basics of basis is a way to avoid costly mistakes. The Real Meaning of Basis According to IRS Tax Topic 703,…
The Wealth Counselor Asset Protection Philosophy 101 The Most Important Parts of Estate Planning Can’t Get Legislated Away Matthew T. McClintock, JD, Vice President, Education, WealthCounsel There is always a media swarm around the death of a celebrity, especially when they’re young, active in their careers, beloved, and tragic. The death of actor Philip Seymour Hoffman in…
The Wealth Counselor Make this your top New Year’s resolution — update your estate plan this year. If you didn’t update your estate plan last year when the federal tax laws changed, 2014 is the year to make some important changes in it. Alterations to tax laws can definitely impact your estate, plus addressing two…
The Wealth Counselor Financial planning has become a generic term. You find it mentioned across media channels from banks to brokerages to accounting firms to personal finance. While the term itself may be diluted, planning is the first step in securing your long-term security. But this security is only realized when the plan is implemented.…
The Wealth Counselor The aging, healthcare and special needs conversation is vitally important to you and your family. Except for government employees and Social Security, retirement plans that pay benefits until death are pretty much a thing of the past. Plus, people today are living longer. Yet retirees’ need for income that is sustainable and…
The Wealth Counselor Did you know that April is National Financial Literacy Month? This is the perfect time to sit down with your loved ones to discuss your financial and estate planning objectives. To help you move the discussion forward, we would like to suggest three action items: (1) Gather around the computer monitor with…
Planning for the New “Zero Percent” Tax Bracket There was a recent change in the tax law that you might not be familiar with – yet it may entitle you to significant tax savings. Beginning January 1, 2008 and continuing through December 31, 2010 (unless extended by Congress), a zero tax rate may apply to…
