There has been a deluge of information, and misinformation, on the CARES Act and what it means to people. The Coronavirus Aide, Relief and Economy Security Act (CARES Act), is a $2 trillion aid package was passed by Congress and signed by Pres. Trump last...
Why it is important to work with a Specialist for your Estate Planning Needs
Michelle Beneski, Managing Partner at Surprenant & Beneski, PC, CELA, LLM Taxation
As many of you know, my brother Dan, who is also my partner here at the firm, recently had a heart attack which was followed by a quadruple bypass. We were all greatly comforted knowing that he was in...
Wealth Management Tips for a Volatile Market
You've worked incredibly hard to save for retirement. Perhaps you will depend on your 401(k) or other market-based retirement accounts as your main source of income during retirement. Like many Americans, you may have concerns about the volatility of the stock market. The Wall Street community has been in a state of...
Coronavirus Legal Advice: Get Your Business and Estate in Order Now
Estate planning attorneys are getting mobbed with questions. So, here is some timely advice from three attorneys on what families and business owners should be doing to prepare in case the unimaginable happens.
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By H. DENNIS BEAVER, ESQ. | Author of "You and...
How the SECURE Act Could Affect Your Retirement Planning
The SECURE Act became law on December 20, 2019. SECURE stands for the Settling Every Community Up for Retirement Enhancement Act of 2019. Taking some time to understand what this law does and how it might affect you could help you plan better for your retirement. The SECURE Act is a far-reaching...
SECURE Act: How It Will Affect You and the Beneficiaries of Your Retirement Accounts
On December 20, 2019, President Trump signed the Setting Every Community Up for Retirement Enhancement Act (SECURE Act). The SECURE Act, which is effective January 1, 2020. The Act is the most impactful legislation affecting retirement accounts in decades. The SECURE...
Do Annuities in 401(k)s Work for Retirement Income?
“Proposed U.S. legislation would make it easier for employers to offer annuities in 401(k) retirement plans that provide retirees fixed payments for as long as they live.”
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The role of annuities in retirement planning is one aspect of the Secure Act that...
It Can Be an Unpleasant Surprise but a 401(k) Is Taxable
While it is taxable on withdrawal, the contributions lower your taxable income.
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It turns out as a surprise to some retirees but the withdrawals from a 401(k) are taxable. However, it is important to remember that the contributions are beneficial, because they lower...
Ask Your Parents about Their Financial Plans
When everyone is comfortable, it is time to move forward with discussion.
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The key to learning about the financial plans of your parents, is to ask for advice on your plans and then ask about their plans, according to
RMD Report: Reverse Mortgage Industry Sees Big Potential in New Condo Rule
The Department of Housing and Urban Development (HUD) announced earlier this month a new process for condominium approvals, effective October 15, which will expand FHA financing for qualified first time home-buyers as well as seniors looking to age in place, allowing those seniors to engage in
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