Category: Retirement Planning


Deciding Between a Trust and a Will During the Pandemic

Knowing what will become of your assets and making the grieving process easier on your loved ones will give you peace of mind during a time of uncertainty. If you’re considering whether to draft a will or establish a trust during the pandemic, each option has benefits and potential setbacks. Depending on your assets and

Many Americans Fail to Create a Will. Why that Matters.

As the number of people succumbing to COVID-19 continues to climb in the U.S., many Americans are thinking about estate planning. Demand for wills in particular has soared as people acknowledge their mortality. Still, a survey by Caring.com and YouGov of 2,400 adults revealed that a majority lacks wills, and the number of Americans with

What’s the Connection Between Your Retirement Planning and Your Estate Planning?

What’s the Connection Between Your Retirement Planning and Your Estate Planning? Your retirement planning and estate planning are linked. When thinking ahead about your retirement, it’s important to consider important key estate planning documents, such as a power of attorney to enable another person to make financial decisions on your behalf. This might inevitably lead

When Should You Start Taking Your Social Security Benefits?

When Should You Start Taking Your Social Security Benefits? Most advisors recommend waiting as long as possible to begin collecting Social Security benefits. Of course, every situation is unique. The best time to take Social Security benefits is not the same for everyone. You must consider your particular financial needs, health, post-retirement plans, and more

  • Clifford M. Cohen,
  •   Retirement Planning
  •   Comments Off on When Should You Start Taking Your Social Security Benefits?
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Estate Planning and Asset Protection for Retirement Accounts

For many estate planning clients, their retirement account represents the majority of their wealth.  Typically these accounts are held in “tax qualified plans” such as a 401(k), or an IRA.  Because they are not subject to income tax until withdrawn — typically at age 70 1/2 — they provide the ability to accumulate large amounts of wealth during one’s lifetime.  In addition,