AMJ Financial Blog

Tag Archive: estate planning

Where There’s a Will, There’s a Plan

Throughout history people have made inheritance choices that are inexplicable to others. In 1926, Harry Houdini left his magical equipment to his brother, his pulled-from-the-hat rabbits to the children of friends, and a series of random words to his wife. The words were a code that would let her know when he was in touch… Read More

4 Requirements of a See-Through Trust

Are you looking to have control over your IRA assets after they’ve been passed along to your beneficiaries? You’ve worked hard to build your nest egg, and you want to ensure that your assets are utilized in the best way possible—but how? A see-through trust is a trust that is treated as the beneficiary of… Read More

Oct. 15-21, 2018 – National Estate Planning Awareness Week

Estate planning is an often overlooked element of financial wellness. It is estimated that over half of Americans – 56% – do NOT have an up-to-date estate plan! National Estate Planning Awareness Week (H. Res. 1499) was adopted on September 27, 2008, to help consumers understand estate planning and its need, along with how best… Read More

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Is a Trusteed IRA a Good Strategy for You?

Leaving a legacy to your loved ones may be important to you, but when the time comes for your beneficiaries to receive your IRA assets, are you confident they will use their inheritance in a way that you’d want them to? There are options available for you to have varying levels of control over how… Read More

Planning For a Disclaimer – 5 Easy Steps

Estate Planning:  While it may seem unlikely, there are situations where beneficiaries decide to turn down an inheritance. Whether it’s to avoid the taxes associated with the assets, or to pass them along to another beneficiary, a disclaimer can help a beneficiary with the option to refuse an inheritance. Executing a disclaimer, however, is not… Read More

Estate Planning: Using Power of Attorney for an IRA

There may come a point in your life where you will need to select a loved one to make significant financial decisions on your behalf. This process is by no means easy, but in the event that you are unwilling or unable to manage your own finances, having someone assigned as a power of attorney… Read More

After the Diagnosis: Making a Plan for Alzheimer’s

In a 2002 interview with Mike Wallace, former First Lady Nancy Reagan said she often reread the love letters written by her husband, former President Ronald Reagan. The letters, which had sustained and enriched their relationship, helped Mrs. Reagan reconnect with her husband and remember the man he was before Alzheimer’s claimed him.1 An excerpt… Read More

Avoiding Spousal Beneficiary Mistakes

Spousal beneficiary mistakes are common, and making financial decisions in a time of grief can be especially challenging. Factors such as your age and income needs should be considered prior to making any changes to an inherited spousal IRA. For more key considerations, click here to download “Avoiding Spousal Beneficiary Mistakes in 5 Easy Steps”… Read More

Beneficiary Checklist

After working your entire life to build a legacy, ensuring that your estate is handled properly once you’re gone should be a key consideration as you develop your retirement plan. Beneficiary forms play a critical role in how your assets are handled, and if they are outdated or filled out incorrectly, your assets could be… Read More

Estate Planning: How Inherited IRA Trusts Work

Are you thinking of naming a trust as your IRA beneficiary? You might want to reconsider making this move, unless you’re doing it for the right reasons. While naming a trust as your IRA beneficiary can add protections and provisions for how your hard-earned money is used, it can also make things more complicated and… Read More