Monthly Archives: January 2013

January Independent Investor

Naming Beneficiaries of Insurance Policies and Retirement Plans One estate planning concern that is shared by people from all walks of life is who gets what when you pass on. While some individuals logically may assume that a last will and testament is the only official forum to express such decisions, that is not always the case. Often, an equally important issue is determining who to name as beneficiary on life insurance policies, employer-sponsored retirement plan accounts and IRAs, since beneficiaries of these assets are paid directly as named, regardless of what may be spelled out in a will. Let’s review some general transfer guidelines for these types of assets. Life Insurance No matter who is designated as the beneficiary … Continue reading

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Resolutions & Taxes

Instead of champagne toasts and party hats, Washington, DC chimed in the New Year with the same old dance of waiting until the last minute before demonstrating its near inability to work together.  Regardless, the so-called fiscal cliff, a series of economically devastating tax increases and spending cuts that were due to come on line at the start of 2013, was temporarily averted given a last-second deal between the Republican-led House of Representatives and the Democratic-led Senate.  The compromise, known as the American Taxpayer Relief Act of 2012, is not the grand solution to address our nation’s surging debt issues that many had hoped for.  Rather, it is more of a temporary band-aid that resolved the revenue (tax) elements of … Continue reading

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