Unfortunately, the answer to this question is yes, an executor can be held liable. If you have an attorney, ensure that they are a qualified probate attorney. There are many things an Independent Executor should know in order to make sure they fulfill their position properly. A qualified attorney will tell you exactly what you … Read more
If you are wondering what to do with your pension plan, check out the pros and cons of rolling over a pension into an IRA.3 min read If you are leaving your employer, you need to make the right decision for your pension plan. You can decide to cash out, or rollover the funds to … Read more
Retirement can evoke s of a relaxing, debt-free life with no monthly mortgage payment, assuming you have already paid it off. However, some financial planners suggest retirees continue to carry a mortgage into and throughout retirement. Reinvesting the proceeds from your home equity to generate a stream of income might make your golden years more … Read more
A backdoor Roth IRA is a loophole that enables wealthier individuals to earn tax-free income. But its complicated. When you purchase through links on our site, we may earn an affiliate commission. Here’s how it works. The Roth IRA is that rare prize in the U.S. Tax code — a way to earn tax-free income. … Read more
Many Americans dream of retiring with a million-dollar nest egg —Americans in general think you need about $1.5 million to retire—but the reality is starkly different. Using figures from the U.S. Federal Reserves Survey of Consumer Finances (updated to 2022 but released in 2025), only about 2.5% of all Americans actually have $1 million or … Read more
As a strategic partner who helps clients navigate and grow in changing circumstances, Tina is responsible for the direct management of the Citizens Wealth Management financial planning and estate planning team, including a team of CERTIFIED FINANCIAL PLANNERS™, estate and tax planners, and trust officers. Most people look forward to their retirement, dreaming of a … Read more
Yes, probate fees can be paid from the estate assets before distributions to beneficiaries. The estate itself—not the personal representative or beneficiaries personally—is responsible for covering all legitimate probate expenses including court costs, attorney fees, and executor compensation. Understanding Probate Fees and Estate Payment When someone passes away their estate goes through probate—the court-supervised process … Read more
Example: Brian is a retired 401(k) participant who turned 76 on March 31. His daughter, Susan, is the beneficiary on his account. On December 31 of last year, the ending balance in his 401(k) was $262,000. To calculate his RMD for this year, he divides $262,000 by his life expectancy factor of 23.7 years. His … Read more
Protection for You and Your Loved OnesLearn how annuities can be effectively combined with trusts in an estate plan. These reviewers are industry leaders and professional writers who regularly contribute to reputable publications such as the Wall Street Journal and The New York Times. Our expert reviewers review our articles and recommend changes to ensure … Read more
You can’t avoid required minimum distributions, but with smart strategies, you could potentially make them less painful. Are you trying to figure out if you can kill two birds with one stone by using a Roth conversion to satisfy your Required Minimum Distribution (RMD)? I’ve got the straightforward answer for you, plus some smart alternatives … Read more
