by admwiu | Dec 5, 2023 | Estate planning, Newsletter
Tax-advantaged retirement accounts such as 401(k) plans and IRAs are intended to promote long-term retirement savings and thus offer preferential tax treatment in return for a commitment to keep savings in the account until at least age 59½. Withdrawals before that...
by admwiu | Dec 5, 2023 | Estate planning, Newsletter, Retirement
The passage of the SECURE Act in 2019 effectively eliminated the stretch IRA, an estate planning strategy that allowed an inherited IRA to continue growing tax deferred, potentially for decades. Most nonspouse beneficiaries, including children and grandchildren, can...
by admwiu | Dec 5, 2023 | Business owners, Estate planning, Newsletter
A recent AARP study found that nearly half of all private sector employees ages 18 to 64 had no access to a retirement plan at work. It also found that small businesses are more likely to lack a work-based plan, putting their workers at a significant disadvantage when...
by admwiu | Dec 5, 2023 | Estate planning, Newsletter
A legal will describes how you want your material assets to be distributed, but how do you leave behind your values? Using an ethical will, also called a legacy letter, you can tell your personal story and communicate your beliefs and life lessons to your family,...
