Choosing the Right Financial Advisor in 5 Easy Steps

Choosing the right financial advisorWhy do you need a financial advisor?

Today’s financial landscape is as complicated as ever.  Choosing the right financial advisor can help you navigate this complexity so that you can make educated, informed decisions on what is best for you and your family.

1.  Ask for references.  Ask your CPA or estate planning attorney.  In many cases, they already have a working relationship with a financial advisor.  You should also consider asking friends and family members for a recommendation if they are in a similar stage of life and financial situation.

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IRA Beneficiary Quiz. Can You Pass?

By Beverly DeVeny
Copyright Ed Slott, LLC

IRA Beneficiary QuizMost people think it is easy to leave an IRA to their heirs. But is it? The following is a quick IRA beneficiary quiz. How many of these beneficiary questions can you get correct? The answers are at the end of the quiz.

1.  The IRA owner has four children. He names the oldest child as the beneficiary of his IRA and the executor of his will which divides all his assets equally among the four children. Who gets the IRA?

2.  The IRA owner has met with an attorney who recommends that he establish a trust for his spouse and that he names the trust as the beneficiary of his IRA. Who gets the IRA?

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2017 Tax Planning Chart

2017 Tax Planning ChartTaxes and retirement go hand in hand, and having a clear understanding of how your
retirement assets will be taxed plays a crucial role in your overall financial plan. Proactive tax planning can help structure your retirement income and investments to take advantage of current tax laws, while avoiding costly pitfalls. Download our 2017 Tax Planning Chart.

Thanks to low inflation, 2017 tax bracket adjustments aren’t dramatic, but they have changed.

5 Things to Know Before Taking a Roth IRA Distribution

By Sarah Brenner, JD

IRA Analyst


Roth IRA DistributionAre you one of the growing number of savers who has a Roth IRA? If so, there will come a time when you will want to take funds from your account. Here are 5 things that every owner should know before taking a Roth IRA distribution.

1. Your Roth IRAs are treated as one account. Things can get a little tricky if you have more than one Roth IRA. When determining the taxation of a Roth IRA distribution, all of your Roth IRAs are aggregated. What does “aggregated” mean? Well, simply put, this means of your Roth IRAs are considered one account for tax purposes.

Your IRA custodian will report the distribution on Form 1099-R to you and to the IRS. You will be responsible for determining the taxation of your distribution. You will use Form 8606 to report the Roth IRA distribution on your federal tax return.

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