Spousal and survivor benefits for same-sex couples have been in limbo over the years. Obergefell v. Hodges granting same-sex couples the right to marry provided much-needed clarity. Since 1939, nonworking spouses of covered workers have been able to receive a spousal benefit equal to 50% of the working spouse’s primary insurance amount (PIA). If the …
It’s been seven years since Congress passed the Bipartisan Budget Act of 2015 ushering in a number of Social Security changes. The main thrust of the legislation was to disallow strategies that took advantage of spousal benefits in a way that was not intended by the original legislation passed in 1939. Spousal benefits were instituted …
If you are wealthy and reaching your distribution phase, your high-balance retirement accounts can create some burdensome tax situations, particularly when it comes to legacy planning. Here are five potential pitfalls you should be aware of. Most people are very proud of their wealth. And why shouldn’t you be? You’ve worked your entire life to …
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