Estate & Financial Planning

Does everyone dread selecting annual benefits?  Benefits are nice to receive, but making choices can be a little daunting. This article focuses on which commonly offered retirement savings vehicle to choose. Deciding between contributing to a Roth 401K and a Traditional 401K (or Pre-Tax 401K) involves weighing your current financial situation against your expectations for retirement, primarily regarding your income tax bracket. Both plans allow your investments to grow without current taxation of the income. The IRS places annual limits on the amount you may contribute to both types of plans. By contributing some to either or some to both, you will most likely be eligible to receive a contribution from your employer.  If you don’t participate, you could forfeit

YOU GOT FINS TO THE LEFT, FINS TO THE RIGHT AND YOU ARE THE ONLY GIRL IN TOWN Jimmy Buffett (“Jimmy”) seemingly had his estate all wrapped up in a few neat packages before he died, but now, less than 2 years after his death, his estate plan has become fodder for tabloid headlines and a source of distress for his wife Jane.  Jimmy drafted his estate plan (including a pour-over Last Will and Testament (“Will”) and Declaration of Trust (“Trust”) in the early 1990’s and amended them in 2017 and 2023 shortly before he passed away in September 2023.  In the Trust, Jimmy set up a Marital Trust for his wife Jane (married in 1977) to provide for her

Whether your business is a mom-and-pop horse farm operation or a family-owned multi-billion-dollar manufacturing company (or news organization), planning for the inevitable (i.e. death and taxes) takes on new perspective as you age and your life decisions involve not just you but also your spouse, children, grandchildren, employees, investors and other business advisors.  Their futures and your personal, corporate, and family legacies all hinge, at least in part, on the decisions you make. You may have heard in recent months that there is a family squabble going on between Rupert Murdoch and his children over control of the family business which is comprised of News Corp (Wall Street Journal and New York Post) and Fox Corporation (Fox News and Fox