Effect of Divorce on Beneficiary Designations

Many divorced individuals die without changing the beneficiary designations of life insurance and IRAs from their former spouse to a new beneficiary. Unfortunately, prior to July 1, 2012, such a designation would be valid. Thus, your former spouse would have been entitled to collect the proceeds payable from your life…

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Prepare for Increased Taxes in 2013

As many of you know, the U.S. Supreme Court upheld the 2010 Health Care Act on June 28, 2012. What you may not understand is how this decision will affect your tax burden in 2013. It is more likely than not that the 3.8% surtax (the “Surtax”) on net investment…

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