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Beware of Orphaned Assets

Submitted by Joseph A. Clark on Wednesday, November 12, 2014 - 12:00pm

The investments you lost track of can return to harm you and your family. Seemingly small orphaned assets can have painful effects.

King Solomon famously warned of “the little foxes that spoil the vines.” In a secular moment, he might have written, “It is the little assets that spoil the estate plan.”

Often at our firm, we uncover forgotten assets in a family’s financial portfolio. They may be perched in accounts that they no longer check. However, these neglected assets require attention.

Untangle Retirement Taxes

Submitted by Eric Meermann on Thursday, November 13, 2014 - 12:00pm

When the Internal Revenue Service leaves a situation vague, sometimes you must guess at the answer to a tax question. The IRS recently issued a clear ruling, though, on a powerful contribution strategy that may change how you use your employer’s retirement plan.

Biz Owners: Prepare for Exit

Submitted by Hilary Hendershott on Friday, October 31, 2014 - 12:00pm

If you’re an entrepreneur, you work, build and earn for yourself. Lacking the security of another’s business to help fund your later years, you must take special care saving for the future – beginning with now.

Start with the end in mind. Understand the prospects and limitations of your business – including when and how you’ll exit. If you already run a business, know your business type and how that type affects potential ways you can eventually exit or sell.

Protecting Inherited IRAs

Submitted by H. Jude Boudreaux on Monday, October 6, 2014 - 3:00pm

Your own individual retirement account is generally exempt from the reach of creditors, but an inherited account may not be. If you plan to pass on an IRA to heirs, read on to learn how to better safeguard the money.

Delaying 1st IRA Payouts

Submitted by Jim Blankenship on Monday, October 13, 2014 - 12:00pm

For most folks, when you reach 70½, you must start taking money from your retirement accounts every year. A little flexibility exists in the first year for you to plan withdrawals to your tax advantage.

Use IRA $$ for Annuities?

Submitted by Jim Blankenship on Monday, September 29, 2014 - 12:00pm

For forever and a day, conventional planning wisdom said don’t use your individual retirement account funds to buy an annuity, primarily because traditional annuities featured tax deferral. Recent changes in annuities may alter this conventional wisdom.

Why Millennials Need Roth IRAs

Submitted by Grant Webster on Monday, August 18, 2014 - 12:00pm

If 20-somethings ask me what to do to get ahead financially, I have a laundry list: create a budget, start investing now, be smart about your taxes and so on. If I absolutely have to narrow it down to one thing, I’d say, open up a Roth individual retirement account.

Traditional or Roth IRA?

Submitted by Travis Russell on Thursday, August 7, 2014 - 3:00pm

Saving for retirement means you must sort out countless and confusing options from 401(k)s to individual retirement accounts. How much you make and whether you’re self-employed or have a company-sponsored retirement plan are just a few criteria to determine which to chose. One of your first questions: What’s the difference between a traditional IRA and a Roth IRA?

Many clients at our firm ask this when looking to maximize retirement savings. To understand which option may be better, let’s look at the differences and nuances between the two types of accounts.

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