Archive - June 2016

1
The Essential Elements For Successful Family Wealth Transfers
2
Early Withdrawal of an IRA or 401k – Medical Expenses
3
What to Make of the Markets During an Election Year
4
Stretch IRA – A Legacy in the Making

The Essential Elements For Successful Family Wealth Transfers

The idea of sitting down with your family and discussing a plan for the future – in terms of wealth inheritance and transfers – may seem daunting to some but it is absolutely necessary.

Having a conversation and developing an inheritance plan can be emotional but it will benefit you and your family when the time comes. This is the time to discuss and understand the goals, values, and ambitions of each person and to think about the common ground and then make sure your Estate Planning documents (and your assets and liabilities) accurately reflect them.

So What Are We 

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Early Withdrawal of an IRA or 401k – Medical Expenses

There are several ways to get at your IRA funds before age 59½ without having to pay the 10% penalty. In this post we’ll cover the Medical Expenses which allow for a penalty-free distribution.

There are three different Medical reasons that can be used to qualify for an early withdrawal: high unreimbursed medical expenses, paying the cost of medical insurance, and disability. Disability and high unreimbursed medical expenses are also applicable reasons allowing for early withdrawal of 401k funds without penalty. We’ll cover each of these topics separately below.

High Unreimbursed Medical Expenses

If you are faced with high …

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What to Make of the Markets During an Election Year

Taking a Look into Patterns Created During Election Years Answers Some Questions, But Raises Others.

The question about presidential elections and their impact on the markets is one we hear a lot, especially every 4 years! We, along with numerous others, have researched this topic extensively and as you would expect, the results are conflicting with no clear cut answer. Just when a particular theory or pattern seems to be dominant, it stops working. However, there are some statistics that seem to attract attention (see sidebar).

Hail to the Stocks

The first year and second year of a president’s term tend to be the

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Stretch IRA – A Legacy in the Making

The term Stretch IRA has become a popular way to refer to an IRA (either traditional or Roth) that has provisions that make it easier to “stretch out” the time that funds can stay in the IRA after the death of the owner. A stretch IRA is not a special type of IRA under the Internal Revenue Code, rather, it’s a traditional or Roth IRA that has language in the custodial or trust document that gives a beneficiary or contingent beneficiary the option to take distributions from an inherited IRA over the beneficiary’s life expectancy. This language also generally allows …

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