Retirement Watch Weekly
Congress Makes It Easier to Take Emergency Cash From Retirement Plans
Some provisions of the CARES Act allow people to take cash out of retirement plans and accounts during the crisis with fewer restrictions and penalties than usual. Keep in mind that a retirement plan might not make the new flexibility available to its participants. The employer sponsoring the plan decides whether or not to adopt […]
Your Questions Answered: How the CARES Act Changes RMDs
By far the questions I’ve been asked the most recently concern a major change that was made in required minimum distributions (RMDs) from retirement accounts. The Coronavirus Aid, Relief, and Economic Stimulus (CARES) Act rolled through Congress in about a week and was signed by President Trump on March 27. The major focus of the […]
The Essential Estate Planning ‘Go Package’
An estate plan doesn’t do much good when key people don’t know about it or have access to key documents and information. Many times after someone passes away or falls ill, the family members go on a hunt for a will and other estate planning documents, or the contact information of an attorney who might […]
How to Update Your Estate Plan for the Pandemic
The novel coronavirus pandemic is causing a lot of problems, but there are actions you can take that will capitalize on the chaos or maximize the protection available to you and your family. The novel coronavirus pandemic spurred interest in estate plans. Many people realized their plans weren’t ready when the pandemic began. The foremost […]
The Dynasty Trust: How It Works
In last week’s edition of Retirement Watch Weekly, we discussed the advantages dynasty trusts can bring to your retirement and to the inheritance you leave your heirs. You can find last week’s issue here. Today, I’ll tell you the next steps to take after the trust is created. Once it’s created, there are many options […]
The Coronavirus Pandemic Will Wield Serious Effects on Social Security
The coronavirus pandemic is going to have some serious, long-term effects on Social Security’s solvency. The U.S. trust fund that helps pay benefits to non-disabled Social Security beneficiaries is scheduled to run out of money in 2034, according to the latest Annual Report from the Trustees of Social Security released April 22. The date the […]
The Negative Pricing of May Crude Oil Futures Is Worth Analyzing
The price of oil plunged to a negative number yesterday, and that requires more explanation than it’s receiving in the general media. It is the price of a particular oil futures contract that fell as low as negative $37.11 on Monday, not the price of a barrel of oil. The futures markets can be complicated […]
How To Set Up a “Dynasty Trust” for Your Estate Plan
Dynasty trusts have been a mainstay of estate planning for a long time. They are a standard way to ensure family wealth is preserved and grows through several generations. Avoiding taxes has been a strong incentive to create a dynasty trust since the beginning of estate and inheritance taxes. Given that background, it would be […]
