Estate Planning for Blended Families Blended families occur when people with children from previous relationships enter a relationship and start a new family unit. Sometimes this even includes children that result from the new relationship. Estate planning can be complicated in these situations. In this article, we will go over some of the basics [...]
Tax Advantages of Homeownership When you rent there are no tax breaks available to you. However, if you purchase a townhome, condo, apartment, or single-family home there are tax deductions available to you. In this article, we will go over four of the tax advantages of homeownership. Credit Verses Deduction Tax credits are subtracted [...]
Universal Verses Variable Universal Life Insurance Universal life insurance and variable universal life insurance are both types of permanent life insurance. In this article, we will compare universal verses variable universal life insurance so you can decide what is best for you. Universal Life Insurance Basics With universal life insurance you are able to [...]
Secure 2.0 Act The Secure 2.0 Act was signed in to law on December 29, 2022, by Joe Biden. This Act increases contribution limits, raises the RMD age, enacts changes to employer sponsored plans, and more. In this article, we will go over some of the changes brought about by the Secure 2.0 Act. [...]
Preparing for Your Estate Planning Appointment When preparing for your estate planning appointment you may not be sure what to expect. It can feel overwhelming, but with the right information you will find it is pretty simple to prepare. In this article, we will go over the basic information you need when preparing for [...]
10 Common Tax Questions Taxes can be overwhelming and complicated. Educating yourself on tax matters can help clear the confusion and put you in a more stable place. In this article, we will answer 10 common tax questions. 1. Are There Extra Tax Breaks Available After December 31st? Up until April 15th you can [...]
8 Types of Long Term Care Facilities We are living longer lives, but this increases the need of long term care for most adults later in life. According to the Administration for Community Living, adults that are 65 now have a 70% chance of needing long term care. Of these 20% will need care [...]
Guide to 529 Plans 529 plans are tax advantaged plans used to fund education. They get their name from Section 529 of the Internal Revenue Code. Typically, parents or grandparents establish them for the benefit of a child, also known as a beneficiary. In this article, we will go over how 529 plans work. Types [...]
Uses of an Irrevocable Trust An irrevocable trust is a type of trust that you cannot change once it has been created. They can be expensive and complex, but they do have special estate planning provisions. In this article, we will go over 3 uses of an irrevocable trust. Qualify for Medicaid Medicaid is [...]
Should We Files Taxes Jointly or Separately? Married couples have two options for filing taxes. They can either file taxes jointly or separately. There are advantages and disadvantages to both. In this article, we will go over the differences between filing jointly or separately. Reasons to File Jointly There are a few different reasons [...]
