RETIREMENT PLANNING INFORMATION
Individual Retirement Accounts (IRAs) are fundamental tools for both retirement savings and estate planning. Choosing the right type of IRA—Traditional or Roth—requires a clear understanding of how each functions in relation to your financial goals and estate planning needs.
As seniors approach retirement, maximizing Social Security benefits becomes crucial for ensuring financial stability in their golden years.
As the New Year approaches, it's an ideal moment to reflect on your goals and resolutions, especially if you're aiming to retire in 2024. Retirement is a well-deserved phase of life, but it demands thorough planning to ensure you can enjoy your golden years to the fullest.
In this blog, we explore the essential estate planning considerations for retirement, and we'll walk you through a real-world example of Jim's journey to ensure a seamless financial transition.
If the pandemic proved anything, it’s that life tends to get in the way of our plans — including retirement plans. Over the course of the pandemic, many people were forced to retire early, others decided they wanted to retire and still others opted to change their planned retirement date.
While deciding when to retire it might seem simple, it’s an increasingly complex decision and there may not be an easy answer. There are many opportunities as well as challenges that need to be considered when deciding if retirement is the next step.
Since it was created in 1978, the 401(k) plan has grown to become the most widely-used type of employer-sponsored retirement plan in the U.S. These plans provide millions of workers money to be invested for their retirement, and 401(k) plans have become a key benefit of a job for many employers across the state.
Retirement is one of the most important financial decisions you’ll ever make, so it is important to stay informed and be wise with your money for this next stage in your life. Here are some tips to help you get on the path to a fulfilling retirement:
You want your loved one to benefit from your retirement account, not the creditors. If you or your beneficiaries fall into any of these five categories, you should seriously consider using a standalone retirement trust (SRT) to protect your retirement accounts.
You would think that after working for decades that you wouldn’t be expected to pay any taxes after retirement, sadly this is not true. The truth is, you will continue to be expected to pay retirement taxes.
Estate planning is a sensitive and complex process that often involves difficult decisions. One of the most challenging choices parents may face is whether to leave their children unequal inheritances.
In this blog, we’ll break down inheritance and estate taxes in Illinois and Missouri, helping you understand what to expect and how to plan accordingly.
At our firm, we emphasize the importance of proper trust funding. This crucial step ensures that your trust will work for you and your loved ones when you need it most.
Estate planning often feels like an overwhelming task, conjuring images of endless paperwork, difficult decisions, and tough conversations. It’s a process that involves contemplating the future—sometimes in ways that are deeply personal and emotionally taxing.
The “sandwich generation” refers to adults balancing the dual responsibilities of raising children while caring for aging parents. While this can be rewarding, it’s also overwhelming, especially when thinking about everyone’s future.
As we move into 2025, Illinois employers must be prepared for a series of significant changes in employment law. Illinois lawmakers were busy in 2024, enacting nine new laws that take effect on January 1, 2025.
As the year draws to a close, it’s essential to take stock of your financial and legal matters. A well-organized year-end review can help you ensure compliance, avoid surprises, and set clear goals for the year ahead.
The holiday season is a time of celebration, reflection, and giving. While we often focus on gifts of toys, gadgets, and clothes, there is another gift that is just as meaningful — one that provides long-term peace of mind for you and your loved ones: estate planning.
When most people think of estate planning, they imagine wealthy individuals with vast fortunes. However, estate planning is not just for the rich—it’s an essential tool for middle-class families as well.
As families grow and change, ensuring the well-being of senior members becomes a priority. A Family Care Plan is a proactive way to address their needs while easing the emotional and logistical burden on loved ones.
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