When a parent passes away, navigating financial matters adds another layer of complexity to the grieving process One common question that many adult children face is whether they can inherit their father’s pension benefits The answer isn’t straightforward and depends on several factors including the type of pension plan, beneficiary designations, and specific plan rules. … Read more
Giving to a loved one or charity can be one of lifes greatest joys. But when it comes to gifting, there are some key issues, including potential tax implications, that youll want to keep in mind in order to make the most of your gift. Because gifting is irrevocable, it’s important to ask yourself: How … Read more
Hey there! I’ve been deep diving into Social Security strategies lately (mostly because my wife and I are approaching that age where we need to make some serious decisions). The question of when my wife should claim her benefits has been keeping me up at night, and I’m guessing you might be wrestling with the … Read more
As Head of Financial Planning, Jason is a strategic partner who is responsible for developing the strategy, managing the planner teams, and coordinating personal financial planning activities across Citizens Wealth Management to help clients navigate and grow in changing circumstances. Today, the average American retires at around age 63. But what if youre thinking about … Read more
It’s no secret that estate planning can be a confusing area of U.S. law. From choosing a will to tax planning, preparing for and understanding the probate process can be overwhelming for many Texas families. While it can be easy to assume that trusts are only necessary for wealthy or influential people, this isn’t true. … Read more
Are you dreaming of buying your first home but struggling to save enough for that down payment? You might be sitting on a potential solution without even realizing it – your Roth IRA. But before you start withdrawing funds, let’s dive into everything you need to know about using your retirement savings to purchase a … Read more
Turning Your Windfall Into Lasting Wealth So you’ve just received a $200000 inheritance. First off, congrats! It’s a bittersweet moment – you’ve lost someone dear but they’ve given you an opportunity to transform your financial future. The question now is what should you do with this money? I’ve helped many clients navigate this exact situation, … Read more
Are you turning 65 this year? If youve been looking forward to receiving your full Social Security benefits, youve still got a couple of years to wait. That goes for the record number of other Americans who will be 65 years old in 2025. In 1983, Congress passed a law to gradually raise the full … Read more
Are you wondering if Charles Schwab operates as a fiduciary? The answer isn’t as straightforward as you might think. Let me break down the important details about Schwab’s fiduciary status so you can make informed decisions about your financial future. The Short Answer: Yes and No Charles Schwab functions as both a fiduciary and a … Read more
Whether you’re already retired—or are planning ahead for the time when you will be—it’s important to know how you’ll pay for your daily expenses. And your Social Security benefits likely play a starring financial role. “Social Security is the major source of income for most people age 65 and over,” said Jennifer Teague, NCOA’s Director … Read more
