Losing a loved one is difficult, and dealing with their financial matters can add stress to an already emotional time. Fortunately, in most cases, you are not personally responsible for their debts.
Did you know that community property laws can impact how you and your spouse file taxes? From income division to special tax rules, understanding these laws is crucial for accurate tax planning.
Divorce or separation brings many challenges, including deciding who gets to claim the kids on their taxes. From custodial parent rules to Form 8332 and tax credits, understanding the IRS guidelines is key to maximizing benefits and avoiding mistakes
We break down Form 706 United States Estate (and Generation-Skipping Transfer) Tax Return and the portability election, a key feature that allows a surviving spouse to utilize their deceased spouse’s unused estate tax exclusion. Learn how this can save your family millions in estate taxes, the qualifications, special filing rules, and common complications when preparing the form.
Director of Research Nick Antonucci, CVA, CEPA, is joined by Managing Associate K.C. Smith, CFP®, CEPA, and Associate Giuliana Barbagelata, CFP® to advise an investor who recently split from her partner and knows nothing about her IRA—how much she’s contributed, what she’s invested in, and what she can do with the account.
Research Analyst Nick Antonucci, CVA, CEPA is joined by Managing Associate D.J. Barker, CWS®, and Associate Josh Weidie, CFP®, CWS® to advise a couple preparing for one spouse to die. They cover the importance of using a records organizer, titling accounts, Powers of Attorney, and including the spouse in meetings with their trusted advisers.
Chief Investment Officer Troy Harmon, CFA, CVA, is joined by Senior Associate Michael Griffin, CFP®, and Jessie Thomas, CPA, Tax Manager with Henssler CPAs & Advisers, to recommend actions an investor and his son can do when filing the final tax return for his deceased wife.
Chief Investment Officer Troy Harmon, CFA, CVA, Managing Associate D.J. Barker, CWS®, and Associate Josh Weidie, CFP®, CWS®, advise a couple who have decided on a divorce and are in the process of unwinding 20 years of combined finances and assets.
Managing Associate K.C. Smith CFP®, CEPA, provides some preliminary steps for navigating a divorce and discusses important dos and don’ts during this challenging period.
Chief Investment Officer Troy Harmon, CFA, CVA, Managing Associate D.J. Barker, CWS®, and Senior Financial Planner Adam Stadalius, CFP®, cover an investor’s options when he inherits his wife’s IRA. With three young children to care for while adjusting to life as a single parent, this investor must to consider when to access the money, taxes, and plans for his family’s future.
