Author - Claire Emory, MBA, CFA, CFP®

1
Estate Planning: Plan to Distribute Belongings and Mementos
2
Tax Reform that May Affect You
3
Avoid Retirement Plan Fees and Penalties
4
Fathers, Daughters, and Financial Planning
5
Planning Ensures that Your IRA Beneficiaries Benefit

Estate Planning: Plan to Distribute Belongings and Mementos

How to Divvy Up the Inheritance and Keep the Family Together” offers tips on how families can handle the distribution of tangible items that have intangible value. Relatives will want cash, land, and valuable jewelry but they will also want tchotchkes, mementos, cheap furniture, and pictures too. And the emotions attached  to these items with little market value are just as strong as those associated with cold, hard cash.

Some people are reluctant to discuss such matters and imagine that their heirs will figure it out. Emotions run high after a death in the family and long-simmering resentments …

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Tax Reform that May Affect You

With all that is happening, taxes may be the last thing you want to think about. Even so, it is good to spend some time doing a financial check at the midpoint of the year so avoid scrambling at the end of the year. If you are not aware, new tax reform was signed into law at the end of 2017. Some of these changes are temporary in that they will last in 2025; others will last until the  tax code is rewritten again.

Your Complete Guide to the 2018 Tax Changes” from The Motley Fool offers an …

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Avoid Retirement Plan Fees and Penalties

The main message about retirement is that you need to save (and you do!) but once you have some retirement savings, you also need to make sure you maximize your savings by not paying fees you need not pay. There are ways in which fees and penalties can eat into the resources you work so hard to save.

U.S. News & World Report offers information on “5 Retirement Fees You Should Never Pay” to get you thinking about how you can use your retirement money to benefit you instead of paying penalties.

Early withdrawal penalties: You may …

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Fathers, Daughters, and Financial Planning

Women recount their experiences, good and bad, with their fathers and finance in “Father, Daughters and Dollars: How Dads Influence Our Views on Money.” Amy Keyishian, the author of this article from LearnVest, wrote it as a followup to an article she wrote about mothers and money but found that the women she spoke with were less lighthearted when it was time to talk about their dads and dollars: “It seems that disagreements over finances can damage a father-daughter relationship as much as it can damage a marriage.”

After consulting with psychology professor, Keyishian found that many …

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Planning Ensures that Your IRA Beneficiaries Benefit

Dos and Don’ts for Leaving IRA Assets to Your Loved Ones” to help people ensure that their hard work and estate planning efforts really benefit the people they care about.

Much, but not all of the advice, relates to how you designate  your IRA beneficiaries. This involves preparation on your part but this diligence ahead of time can save your heirs a lot of grief later. Here are just a  few of Morningstar‘s suggestions:

It seems very basic to say this but first you need to designate a beneficiary. If you haven’t actually named beneficiaries, start there. …

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