Estate and Gift Planning
Incapacity: A good reason to fund your trust and name a power of attorney and health care proxy
With proper planning, you can avoid additional financial costs and stress on your loved ones if you become incapacitated.—Sarah M. Richards
2020 Health Savings Account (HSA) contribution limits
The IRS recently announced an increase in the HSA contribution limits for 2020.—Darrell Kamholz
Income Tax
Traditional IRA beneficiary designations and implications
There are advantages and disadvantages of naming certain beneficiaries on your Individual Retirement Account (“IRA”), with each option resulting in different tax implications. Knowing your options and consulting with your legal counsel can assist you in the process and can potentially save the beneficiary substantial amounts of money.—Lauren Whiting