The Perils of Shared Home Ownership By Families and Friends

The idea of buying a vacation home together with friends has plenty of appeal.  Splitting the costs among multiple families makes the financial burden more reasonable.  Shared home ownership can make that desirable vacation home, which would otherwise be unaffordable for any one family, affordable as a group.  Gone would be the days of searching [...]

Protecting Children and Grandchildren with an IRA Trust

One of the most challenging roles of parenting is finding the proper balance between protecting children too much and not enough.  In the early years, we cover electrical outlets, protect household edges with soft bumpers, and spend hours analyzing all the safety features of car seats.  Parental protection then evolves to monitoring what our children [...]

Potential Death of Backdoor Roth, Stretch IRA, and Other Financial Planning Strategies

President Obama unveiled the Fiscal Year 2017 Budget last Tuesday (February 9th) which included several unexpected first-time proposals in addition to many crackdowns and “loophole closures” that have become annually recurring proposals.  Experts contend there is little likelihood of any substantial tax change in the final year of the President’s term.  However, we could see [...]

11 Retirement Plan and IRA Beneficiary Designation Mistakes

A married couple pays a local attorney to draw up estate documents.  The attorney drafts wills and lays out the well-conceived plan for testamentary trusts to be created upon death, distributing assets just as the husband and wife desire.  The couple signs the documents with appropriate witnesses and goes home to the relief that their estate [...]