Acquaint Grown Children with Your Financial Affairs

Many parents may feel it is unnecessary to inform their adult children about their personal, financial affairs. However, as your children grow older, it can work to your advantage—and that of your entire family— to share with them key financial, medical, and estate...

A Quick Look at Charitable Deductions

Donations of cash or property to qualified charities are, for the most part, deductible on your personal tax return. If you receive something in return for your donation, you must reduce your deduction by the value of that item or service. For example, if you donate...

Tax-Advantaged 529 Accounts

What families need to consider According to the College Board, the most recently published figures of the average annual cost of tuition and fees at a public university for a school year was $9,139 for in-state students and $22,598 for out-of-state students. The...

401k Loans: Pros and Cons

You might be considering taking out a loan from your 401k. But before you do, you should know the rules and weigh the risks against the benefits. Because not knowing the rules and understanding the risks might hurt you and your retirement in the long-term. Consider...

5 Avoidable Mistakes in the Will You Write

I have seen my share of client-drafted wills. While most people opt to have a lawyer draft their last will and testament, there is no requirement that an attorney do so. If you do opt to draft your own will, make sure to avoid the following five mistakes that I...