For many people, if they know about reverse mortgages at all it is probably limited to seeing them advertised on late night TV. They are not widely used or understood, and might even seem gimmicky; but given the right circumstances, they could be worth considering. Reverse mortgages are primarily designed for older homeowners who have … Continued
High income earners take notice: you might be missing out on a lucrative savings opportunity within your Traditional 401(k). Most savvy savers assume that once they reach the statutory maximums on tax deferred contributions they have contributed all they can to their tax-advantaged retirement plan. However, in 2014, the IRS1 clarified the process by which individuals … Continued
Many families hold philanthropy as an important family value and strive to find ways to give efficiently, perhaps accomplishing additional objectives in the process. Investors, having lived with low interest rates for many years, are starting to see signs that rates may gradually rise. That begs a question: are there unique financial planning opportunities worth … Continued
Protecting Americans from Tax Hikes Act of 2015 Signed into Law Very rarely big changes sweep the landscape of financial planning but when they do taxpayers are sometimes awarded significant benefit from the change. On December 18, 2015, the Protecting Americans from Tax Hikes (PATH) Act was signed into law. The Act does considerably more … Continued
Typically, a regular IRA is not the most efficient asset to use for inter-generational transfers of wealth. If the IRA and estate are large enough, both estate and income taxes will apply. As a result, heirs can end up with only about 20% of the actual value of an IRA. However, if estate taxes are … Continued
Social Security was established in 1935 in the depths of the Great Depression to provide Old-Age, Survivors, and Disability Insurance (OASDI). What started as a program covering only about 50,000 Americans has turned into one now covering over 50 million beneficiaries. By dollars paid out, the US Social Security program is the largest government program … Continued
When Congress and President Obama struck a budget deal last week, political and market observers alike cheered as years of partisan gridlock seemingly came to an end, if only briefly. Those who probably aren’t cheering as much? The many Baby Boomers nearing retirement who saw the Social Security system turned on its ear with the … Continued
I can now fully understand from firsthand experience what it means to want the very best for your child. As the mother of a 2½-yearold, I am fortunate in that it is still relatively easy to meet all of my daughter’s needs and to make her happy. While raising children in Silicon Valley — or … Continued
The term “robo-advisor” has been getting so much press lately you’d think we were facing the rise of the machines. Images of an “advisor” who looks and sounds like C3PO from Star Wars asking, “When do you plan to retire? I repeat, when do you plan to retire?” run through my mind. Actually, robo or … Continued
Real estate, farmland, artwork, closely-held stock of C or S corporations….these are all highly valuable assets, especially here in the Land of Founder’s Stock. If you’re philanthropically minded, it might make sense to consider incorporating these valuable, less liquid assets in your strategic gift and tax planning. With the memory of tax season still fresh, … Continued