Traditional IRAs have been available to retirement savers who have earned income since 1974. That’s 23 years longer than Roth IRAs (introduced in 1997) have been on the scene. The big difference between these two types of individual retirement savings vehicles is when you pay federal (and possibly state) income tax on your savings.
Beneficiaries, in general, are people or entities that the holder of an account designates to receive the assets in the account, typically, in the event of the account holder’s death.
What to know about managing someone’s final wishes.
A conservatorship, also known as a guardianship, is a legal mechanism set up for people who are unable to manage their affairs.
College savings accounts, known as the 529 Plan, can be confusing. Parents know that they have tax incentives. However, what exactly are those benefits? Which investment options make the most sense? Which costs are covered, and which aren’t? Many parents don’t care if they have so many questions. Here are answers to frequently asked questions about the 529 plan to help get rid of some of the fog.
If you want loved ones to remember you fondly, tackle your estate planning tasks. Your heirs will thank you for not leaving a legal mess to sort out.
Estate planning is a cornerstone of any healthy financial plan, but it can be difficult to discuss.
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