Tag: beneficiary

Suddenly Single? Start Fresh: Protect Finances

June 17, 2018 | By Steven DiGregorio

Losing a spouse through death or divorce can be emotionally devastating and is often a difficult time to make important life decisions. Yet it’s this very time that attention needs to be paid to important financial matters such as retirement assets, budgeting on a single income, appropriate insurance, or reviewing Social Security benefits.  Should you become […] READ MORE


Very Costly Mistake: Out-of-Date Beneficiary Designations

September 24, 2015 | By Steven DiGregorio

If you have a will, have you looked at in the past couple of years and updated if necessary? That’s important, but don’t assume that it’s enough to ensure that all your wishes are carried out in the event of your demise. It isn’t. What about the beneficiary designations on your qualified retirement accounts, individual […] READ MORE


The 5 Biggest Estate Planning Mistakes

May 29, 2014 | By Steven DiGregorio

You’ve worked a lifetime for what you have. You did everything right; funded your retirement plan, paid off your home early, amassed enough savings to cover future expenses and even planned to leave a financial legacy to your loved ones. Too bad your ex-spouse—and his or her kids—will inherit it all… Estate-planning mistakes are both […] READ MORE


How to Avoid Probate – Pay-On-Death or Transfer-On-Death

March 27, 2012 | By Steven DiGregorio

Using a payable-on-death or transfer-on-death account is the simplest way to keep assets out of probate. With either a transfer-on-death or a payable-on-death account, you are in control. The assets in the account pass directly to your named beneficiary and bypass probate, the court proceedings that validate your will after your death and transfers property […] READ MORE


Tax-smart Strategies for Retirement Income Distribution

November 17, 2011 | By Steven DiGregorio

The first wave of baby-boomers turns 65 this year, and that means millions of new retirees will begin to switch from accumulating a nest egg to drawing income from it. If you’re a boomer, it’s time to start thinking about how you’ll convert decades of savings into a lifetime stream of income, which accounts to tap first and […] READ MORE


When It’s OK to Tap Your IRA

April 14, 2011 | By Steven DiGregorio

You’ve been saving diligently for your retirement, but now you need some of that cash to cover today’s expenses. Can you get to it without incurring Uncle Sam’s tax wrath? In some instances, the answer is yes. When you take money out of an individual retirement account before you reach age 59½, the Internal Revenue […] READ MORE


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