SECURE ACT CHANGES TO IRAS

Posted on December 29, 2019 by Hawkins Elder Law.

SECURE Act changes to IRAs will affect you or someone you know in 2020. The ‘‘Setting Every Community Up for Retirement Enhancement Act of 2019’’ (SECURE Act) begins on page 604 of H. R. 1865, the 715-page Congressional appropriations bill that President Trump signed on December 20, 2019. This article highlights some SECURE Act provisions and suggests income tax planning strategies that may help some families reduce tax burdens.

Read More »

FAMILY LAW SOLUTIONS FOR ELDER LAW PROBLEMS

Posted on November 25, 2019 by Hawkins Elder Law.

This article describes special problems challenging some older married folks, and explains how elder law attorneys are using family law tactics to help solve those problems.

Read More »

Have You Withdrawn Enough from Your IRA This Year?

Posted on November 14, 2016 by Hawkins Elder Law.

The retirement plan concept leads us to believe that we should contribute as much as possible to IRAs and other tax-deferred retirement plans, and avoid withdrawing more than the required minimum distributions. While this strategy will maximize retirement plan growth and the likelihood that it will provide income late in life, it also sets up […]

Read More »

Puny Powers of Attorney

Posted on June 5, 2016 by Hawkins Elder Law.

[See our Disclaimers page about relying on this website’s contents.] Most people think of wills or trusts when they think of estate planning. However, powers of attorney are probably the most important estate planning documents that most people can have. A last will and testament is a good way to direct how people will distribute […]

Read More »

Financial Advisor Certifications, Titles, and Pedigrees

Posted on August 8, 2015 by Hawkins Elder Law.

[See our Disclaimers page about relying on this website’s contents.] “Professor” Herald Hill, the con-artist from the acclaimed musical The Music Man, wowed River City, Iowa, with his fancy talk and fake credentials. The magic of Broadway and Hollywood gave us a happy ending that does not often appear in the real world. When consultants, […]

Read More »

For How Long Should You Keep Records?

Posted on March 22, 2015 by Hawkins Elder Law.

[See our Disclaimers page about relying on this website’s contents.] Clients ask from time to time how long they should keep copies of their records. They often say that they have heard that you should keep records for 3 years or 7 years or 10 years. This article provides record retention guidelines for various purposes […]

Read More »

Business Planning To Boost Yields & Hedge Against Losses

Posted on December 28, 2014 by Hawkins Elder Law.

[See our Disclaimers page about relying on this website’s contents.] Many farmers have already planned their next crop by the time their fall harvest ends. With wildly variable grain and livestock market prices and input costs, pennies quickly add up to dollars – whether as expenses or revenue. Planning to reduce expenses and avoid losses […]

Read More »

ABLE Act Passes Congress and Awaits Presidential Signature

Posted on December 17, 2014 by Hawkins Elder Law.

[See our Disclaimers page about relying on this website’s contents.] Congress passed the Achieving a Better Life Experience Act (ABLE Act) today. The ABLE Act says that its purpose is to: (1) To encourage and assist individuals and families in saving private funds for the purpose of supporting individuals with disabilities to maintain health, independence, and quality […]

Read More »

Giving Your Taxes to Charities

Posted on December 13, 2014 by Hawkins Elder Law.

[See our Disclaimers page about relying on this website’s contents.] We think about gift-giving during the holidays, but many people miss  opportunities to give taxable dollars to their favorite tax-exempt churches, colleges, and poverty relief organizations. An entire segment to estate planning is dedicated to the process of helping people give money to charities and […]

Read More »