Monday, January 2, 2017Internal Revenue Code 125 allows an employer to implement an employee benefit plan which allows employees to se1ect the benefit programs they prefer. The plan offers two or more options and the employee chooses the option most appropriate for him or her. Because of the "menu" of benefits available, the plan is referred to as a "Cafeteria Plan". READ MORE >>
Monday, January 2, 2017A will is a legal document that transfers what you own to your beneficiaries upon your death. It also names an executor to carry out the terms of your will and a guardian for your minor children, if you have any. Your signature and those of two witnesses make your will authentic. READ MORE >>
Monday, January 2, 2017A Charitable Remainder Trust normally is used as a strategy for converting highly appreciated assets into income producing assets, without income tax liability. The Charitable Remainder Trust is an irrevocable trust with both charitable and non-charitable beneficiaries. READ MORE >>
Monday, January 2, 2017When planning your retirement, it is important to remember that money, more than any other factor, will dictate most of your retirement decisions. Your level of financial preparedness for your retirement years will determine when you retire, what type of lifestyle you and your family will enjoy during retirement, and what might be left as a legacy to your heirs. READ MORE >>
Monday, January 2, 2017The best financial decisions are made with the benefit of time, thoughtful consideration and trusted professional advice. As tax time once again approaches, there are many things you can do to give you the flexibility to make the best long term financial decisions and prepare to minimize expenses, taxes and the headache of organizing your finances at the last minute. READ MORE >>
Monday, January 2, 2017In years past, it was often realistic for retirees to base the majority of their retirement income on Social Security benefits and traditional employer sponsored pension benefits. Unfortunately, Social Security retirement benefits have gradually been reduced in real terms, and the age one needs to attain in order to qualify for retirement benefits has been increasing steadily. READ MORE >>
Monday, January 2, 2017You may recall that during the final weeks of his life, former President Richard Nixon refused "heroic measures" and received only palliative (comfort-easing) care at his home. Similarly, former First Lady Jacqueline Kennedy Onassis refused life-prolonging medical intervention before her death from non-Hodgkins lymphoma. READ MORE >>
Monday, January 2, 2017A revocable living trust provides financial protection in the event you are no longer able to manage your financial affairs yourself. You can be trustee while you are healthy, but if you have a stroke or become otherwise incapacitated, your successor trustee would manage your assets in the trust. READ MORE >>
Monday, January 2, 2017No matter what type of investor you are, it is important to keep your plan on track. Revisit your asset allocation periodically (every year or two, depending on market conditions) and see whether it needs adjustment. You should also periodically re-examine your risk tolerance and investment profile, especially as you get closer to your goal. READ MORE >>
Monday, January 2, 2017The federal government imposes a substantial tax on gifts of money or property above certain levels. Without such a tax someone with a sizable estate could give away a large portion of their property before death and escape death taxes altogether. For this reason, the gift tax acts more or less as a backstop to the estate tax. READ MORE >>
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