by Heid Huiskamp Collins | Jul 20, 2022 | Financial Planning
I’ve been opening IRA retirement accounts for clients for nearly 20 years and the estate planning and choice of beneficiaries is pretty rote: name your spouse as your Primary Beneficiary and your child or children as Contingent Beneficiary(ies). Nothing wrong...
by Heid Huiskamp Collins | Jul 20, 2022 | Financial Planning
I’ve been a licensed financial planner for about 20 years and it was pretty much a default that a married couple would name the other spouse as the primary beneficiary of their retirement money and then name their children as the contingent beneficiaries in the case...
by Heid Huiskamp Collins | May 13, 2022 | Financial Planning, News
A boon for most taxpayers was the increase in the standardized deduction starting in 2018. Prior to the Tax Cuts & Jobs Act, a full 30% of households itemized deductions; since the change, a mere 10% do. This year, single people can deduct $12,950.00...
by Heid Huiskamp Collins | Feb 22, 2022 | Financial Planning, News
You’ve lived a life together. You can close your eyes and remember walking down the aisle with grains of rice being sprinkled on your head and those early days of cheering each other on in your daily journeys whether that be a career or juggling all manner of duties...
by Heid Huiskamp Collins | Jan 3, 2022 | Financial Planning, News
Benjamin Franklin was famously quoted as saying that death and taxes are the only things in this life that are certain. If you are currently retired or nearing retirement, the big question is whether taxes collected, including payroll taxes of current and future...
by Heid Huiskamp Collins | Jan 3, 2022 | Financial Planning, News
Last month’s column was devoted to describing the consequences of late 2019’s SECURE (Setting Every Community Up for Retirement Enhancement) Act’s impact on the widely-used legacy-giving vehicle known as “Stretch IRAs”. Prior to January 1, 2020, a Stretch IRA...
