An untrustworthy executor can foil even the most well-designed estate plan. Use these guidelines to select a reliable executor—one who will assure that assets pass to their rightful heirs. Think about what will happen to your assets after you die. I’m not talking about wills, trusts, or other estate-planning tools used to specify who inherits …
Inheriting a fortune may prevent a life of financial hardship, but the inheritance may bring other problems. Consider how much to leave your kids by asking some important questions. A popular belief today is that too much money spoils kids. Over the years, several heirs have gone public with their stories about the corrupting influence …
Forty-six years and seven husbands after inheriting her $40 million Woolworth fortune, Barbara Hutton died with a mere $3,000. Learning from her mistakes, you may better prepare your children and grandchildren for stable futures—both financially and emotionally. At the age of 10, Barbara Hutton, granddaughter of F. W. Woolworth and niece of E. F. Hutton, …
The Woolworth Misfortune: How Not to Provide for Heirs Read More »
Those “How much do you know about Social Security?” quizzes you see online are fun and interesting, but the bigger questions you should be asking are those that can help you get the most out of the program. Do you know much Social Security you stand to receive over your lifetime? People in their early …
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 …
Here is what you need to know to navigate the 3.8% surtax on unearned investment income and the 0.9% additional tax on wages. Though the Patient Protection and Affordable Care Act (PPACA) faces an uncertain future, Obamacare remains the law of the land for the time being. The continued existence of the law has important …
11 Ways to Minimize the Bite from Medicare Taxes Read More »
One day you may find yourself involved in guardianship proceedings for an elderly parent or relative. Here’s an overview of what guardianship means today, how the court evaluates the adult, and what you need to know. Guardianship promises to be a huge issue facing baby boomers in the years ahead as they watch over elderly …
Most of us probably hope that we will never need disability benefits. But for those who qualify, they can be an important source of income. The disability portion of the Social Security program is so big and so complex that there are law firms that specialize in helping workers navigate their way through it. Although …
Hagen Pruemm and Cynthia Pruemm are investment advisory representatives of and provide advisory services through CoreCap Advisors, LLC. SIS Financial Group and CoreCap Advisors are separate and unaffiliated entities. Logos as displayed herein are not intended to imply any endorsement by the owners of such logos of SIS Financial Group. The content of this website is developed from sources believed to be accurate and complete; however, no guarantee can or is given for such accuracy or completeness. Nor is the information in this material intended as tax or legal advice. Please consult your own legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale, or the solicitation of such an offer, of any security, insurance product, or annuity in any jurisdiction in which the persons represented on this site are not appropriate licensed, registered, appointed, or otherwise qualified by law and regulation to make or solicit such purchases and sales.
Links to third-party websites are being provided for informational purposes only. CoreCap is not affiliated with and does not endorse, authorize, or sponsor any of the listed websites or their respective sponsors. CoreCap is not responsible for the content of any third-party website or the collection or use of information regarding any websites users and/or members.
