For those of us in our working years, we may dream of a retirement destination outside of western Pennsylvania. Perhaps we are seeking warmer weather, sunnier skies or to be closer to family. Although we would argue that it should not be a primary consideration in your retirement decisions, state taxes can play a role. […]
State Tax Considerations in Retirement and Estate Planning Read More »
On April 16, 2024, the Internal Revenue Services (IRS) released Notice 2024-35, granting relief (again!) for failure to make requirement minimum distributions (RMDs) from an inherited IRA (or from other inherited retirement accounts). This means that if you have inherited an IRA from someone who passed away in 2020 or later, then you are not required
In recent years, more of our clients have been asking us to incorporate lifetime trusts into their estate plan for their beneficiaries. The purpose of this article is to provide some of the benefits and downsides of lifetime trusts to enable you to make an informed and educated decision about utilizing a lifetime trust as
Utilizing a Lifetime Trust as Part of Your Estate Plan Read More »
by John Montoya Your estate plan helps protect your loved ones – mentally, emotionally, and financially – and we can help you with all of the steps necessary to put a plan in place. Estate planning is not just the set of documents your attorney prepares, nor is it your investment allocations and financial plan,
529 plans are a popular and effective way to save for education-related expenses, but historically, one potential drawback of grandparent 529 plans has been that they can affect financial aid eligibility for the beneficiary. However, thanks to upcoming changes to the Free Application for Federal Student Aid (FAFSA), distributions from a grandparent’s 529 plan will no longer
