Estate Planning – An Important Part of Your Financial Life

According to USA Today, nearly two-thirds of Americans don’t even have a will, perhaps the simplest estate plan. Moreover, estate planning is more than just creating a will, it involves other important documents such as powers of attorney (POAs), advance healthcare directives, and trusts, in some cases. 

Why You Should Update Your Estate Plan

Here is some good news for those of you who are contemplating an update to your estate plan. The process has become a bit more predictable than it used to be.

In 2013 Congress passed legislation that made the estate tax exemption of $5 million permanent and created a provision to adjust this figure yearly for inflation.

Stretching an Individual Retirement Account

Inheriting an Individual Retirement Account can be a financial godsend.

If an IRA is stretched out for a long period of time, it can continue growing well beyond its original size. Various pitfalls, however, keep many IRAs from lasting as long as they could.

Here are a few of the ways to make sure that you or somebody else never sabotages your IRAs:

9 Year-End Tips to Save on Taxes

While 2013 will soon be over, there is still time to capture some last-minute tax deductions. Here are nine tips that could help you shrink your tax bill before the New Year starts: