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Scott Tucker Solutions
Scott Tucker is president and founder of Scott Tucker Solutions Inc. He has been helping Chicago-area families with their finances since 1998. A U.S. Navy veteran, Scott served five years active duty as a cryptologist and was selected for duty at the White House based on his service record. He holds life, health, property and casualty insurance licenses in Illinois, has passed the Series 65 securities exam and is a registered Investment Adviser Representative.
The new law takes away the popular "stretch IRA" option for most non-spouse beneficiaries, so to save your beneficiaries potential tax liability, your estate plan may need some tweaks.
See More From: Building Wealth
Even simple estates need a plan, whether it be a will or possibly a trust. Putting your plan together is like climbing a ladder: Just take it one rung at a time.
Substantially equal periodic payments are one option available to those who really need to tap their IRAs early. But be aware that can be a complicated process, and could be easy to make a costly mistake, so use this strategy only if absolutely necessary, and get some help while you're at it.
If the higher standard deduction have kept you from getting any tax benefits from your charitable giving, there is a way around that.
Tax-deferred accounts could lead to an unwelcome retirement surprise, so start planning now to tame the beast.
Congratulations, you managed to put together a brag-worthy investment portfolio, but making the adjustments necessary to keep it there takes a lot of work. Over the years, it's not uncommon for even the best investors to lose touch, and by the time they ask for help, it can almost be too late.