Although spouses receive special treatment when inheriting a retirement account such as an IRA (the ability to roll over the account into a personal retirement account and to stretch the distributions over their lifetime), the retirement account you leave for your spouse can still be seized in a divorce, a lawsuit, or a bankruptcy proceeding. […]
Having a clear conversation about death and dying is never fun. Most people avoid them because they invoke feelings about our inevitable demise. Broaching this subject can be particularly difficult for parents and their adult children. Adult children may avoid bringing up the topic for different reasons. The most common are they don’t want to […]
The most common stated goal of estate planning is to avoid probate. While a relatively straightforward process in Texas, probate can be somewhat costly and does require a time investment. Finally, when probating a will, that information becomes a matter of public record, all of which most people prefer to avoid. Whether or not your […]
On December 20, 2019, President Trump signed the Setting Every Community Up for Retirement Enhancement Act (SECURE Act), which became effective on January 1, 2020. The Act is the most impactful legislation affecting retirement accounts in decades. It will have a positive impact for many older Americans but could have negative tax consequences for many […]
