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Explore: What Happens to your Online Accounts When you Die?

What Happens to your Online Accounts When you Die?

Accounts

Technology is advancing at an increasingly rapid pace. The age of the internet has ushered in an unprecedented level of connectivity. In today’s modern world, people accrue vast amounts of digital assets, including digital files, such as photographs, videos, and documents, as well as digital accounts, such as social media, e-mail, websites, financial accounts, etc. As our digital footprint grows more valuable, it would be prudent to consider how these assets are handled after death.

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Net Unrealized Appreciation — Your Options

Stock

Individuals who own company stock in an employer-sponsored qualified retirement plan may be able to benefit from an Internal Revenue Service (IRS) tax rule that provides an additional distribution option for such a holding. According to Vanguard’s 2014 research on nearly 1,500 qualified plan sponsors, 15% of all plan participants utilize company stock in their employer’s qualified retirement plan. Continue reading “Net Unrealized Appreciation — Your Options”

Estate Tax Versus Inheritance Tax — What’s The Difference?

Inheritance

One of the most important components of financial planning is ensuring a sound plan is in place for the transfer of an individual’s estate upon their passing. Several changes have been (and continue to be) made to federal and state laws that govern the transfer and subsequent taxation of estates in the United States, leaving many people feeling overwhelmed by the sheer complexities that exist. Continue reading “Estate Tax Versus Inheritance Tax — What’s The Difference?”

Top 5 Mistakes People Make in College Planning

The cost of education is rapidly increasing.  With student loan debt now being the second highest consumer debt category, trailing mortgage debt, the stakes of college planning are high and there is not much room for error.  Here are some common mistakes that parents make when planning for their children’s college education.

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Dealing with the Fallout of Excess IRA Contributions

Contributions

Tax season is here and the deadline is quickly approaching. Scores of Americans are gathering their documents in preparation and accountants are working overtime to make sure that everything is in order for their filings. It is during this preparation that investors often find out that their IRAs have contribution limits and exceeding those limits can be a costly error.

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Changes to Social Security

Changes

There are some significant changes to the Social Security program this year which you should be aware of, particularly if you are thinking of retiring soon or already have. One of the most important components of an individual’s retirement plan is the opportunity to receive monthly income from the Social Security program. Over 65 million people received benefits from programs administered by the Social Security Administration (SSA) in 2015. Continue reading “Changes to Social Security”

Social Security Options Changing for Married Couples

As of May 2016, two popular social security claiming strategies are being eliminated due to the Bipartisan Budget Act of 2015, signed into law by President Obama. These two popular strategies for married couples are known as “File and Suspend” & “Restricted Claims/Application”. Continue reading “Social Security Options Changing for Married Couples”