Do you owe Gift Tax? Most people aren’t even aware a Gift Tax actually exists! Well, for simplistic purposes, gift tax is a tax placed on any gifts, which you have given to someone while you are still living. Even though you are allowed to give any amount b/w spouses with no gift tax affects, there is a current annual …
Is Your Will Worthless?
Is your Will worthless? While a wonderfully drafted Will helps to transfer wealth and hopefully minimize inheritance tax, a Will without proper estate planning can sometimes become worthless. Beneficiary designations, ownership titles, or transfer on death provisions all have affects which could negate a wonderfully drafted Will all together. It is important to make sure your complete estate plan involves …
Social Security in Trouble
Recently a question was asked to Barack Obama about Social Security. The President remarked: “So here’s the thing. Social Security is not in a crisis.” Hold up a minute, maybe the President has not read the Trustee’s of Social Security Annual report issued August 5th 2010. The “Social Security Act” requires the Trustees of Social Security Trust Fund to report …
Dying Without A Will
What happens if you die without a Will? Well, really no one dies without a Will, because if you haven’t created one for yourself the state you live in will. Dying without a Will is known as dying “intestate”, which basically means the state at which you live at the time of death already has specified laws to determine how …
2010 Fi360 Article Competition Winner – Andrew D. Rice
Andy recently won Fi360’s article competition for the article he wrote “Roth Conversion – The Gamble of a Lifetime”. The article was published by Investment News on January 31, 2010. You can also read the announcement of Andy as the winner on Fi360’s website
Roth Conversions – “The Gamble of a Lifetime”
This Article actually won Andy the coveted “2010 Fi360 Article Competition”. Fi360 promotes Fiduciary Excellence among financial advisors, which we at MMS Inc. take very seriously. Fi360 owns and awards the AIF and AIFA professional designations, provides analytical and reporting technology and ongoing support for all types of fiduciaries and financial service providers, including advisors, wealth managers, plan sponsors, trustees, …