Perhaps the largest part of most Americans’ wealth is in their qualified plan or IRA. Planning for these assets is one of the most important parts of the estate plan, for many reasons. This article will discuss the importance of beneficiary designations. The post Planning for Retirement Plans and IRAs: Beneficiary Designation appeared first on Kulas Law Group.
Clients often want the simplest estate planning solution possible. However, the simplest solution is doing nothing. Usually, doing nothing does not result in the desired outcome. The post Estate Planning: The Simplest Plan is Usually Not the Best appeared first on Kulas Law Group.
The new tax law has many impacts on state income taxes in 2018. The law limits the deductibility of state income taxes for federal purposes. It also raises the federal standard deduction amount. However, taxpayers should consider the impact on their state income tax of the decisions they make to minimize their federal taxes. This article examines why. The post New Tax Law May Affect State Income Tax, Too! appeared first on Kulas Law Group.
Many factors go into retirement decisions. This article examines many of those factors, such as where to retire, access to healthcare, income taxation, estate taxation, property taxation, etc. This article includes many links to helpful lists. The post Retirement is Complicated appeared first on Kulas Law Group.
Have you been putting off the creation of your estate plan because you never seem to have the time and/or money to get it done? If so, you are hardly alone. Over half of all Americans don’t have an estate plan in place despite understanding the importance of having one. One mistake you do not [ ] The post Port St. Lucie Estate Planning Attorneys Warn Against the Use of DIY Documents appeared first on Kulas Law Group.
Retirement takes planning. This article includes milestone ages, such as when you must begin taking distributions from retirement plans. The article also includes links to resources which will be helpful in your retirement planning process. The post Age-Related Retirement Milestones appeared first on Kulas Law Group.
Blended families require special planning. Communication of those plans is key to keep frictions to a minimum. This story examines the controversy in the family of sports reporter Craig Sager, who died in December 2016. The post Sager Family Shows Perils of Blended Families appeared first on Kulas Law Group.