Financial Insights

Category: Estate Planning

5 Essential Tips for Managing Beneficiaries

Estate Planning, Financial Planning

Estate planning is not merely about the distribution of assets; it’s about ensuring that your legacy is preserved according to your wishes. One crucial aspect of estate planning often overlooked is managing beneficiaries. Whether it’s a retirement account, life insurance policy, or investment portfolio, properly designating beneficiaries is essential. However, the importance of this task […]

Leaving a Legacy of Income

Leaving a Legacy of Income

Estate Planning, Retirement Planning

ReShelle Barrett, CFP® Are you over age 70 ½ and being forced to take income from your IRA? Wouldn’t it be nice if you could spread that income over future generations?   Fortunately, you can. Let’s start with determining when you need to start taking Required Minimum Distributions (RMDs). The IRS allows retirement accounts to grow […]

Inheriting an IRA

Inheriting an IRA

Estate Planning, In the News

ReShelle Barrett, CFP® The term “IRA” tends to be used fairly loosely. Although most investors know that it means individual retirement account (or sometimes annuity), many don’t realize there are multiple types of IRAs which are similar on one hand but can be very different on the other. Types of IRAs include traditional, Roth, SIMPLE, […]