The Wiser Wealth Blog
IRS Clarifies 10-Year Rule for Retirement Account Beneficiaries
The IRS recently issued guidance on the annual distributions for beneficiaries of retirement accounts. The 10-Year Rule for inherited retirement accounts was created as part of the SECURE Act, which [...]
Tax Advantages of a Generation Skipping Trust (GST)
A Generation Skipping Trust (GST) is an estate planning tool used to transfer assets to grandchildren, great-grandchildren, or non-related individuals who are at least 37.5 years younger than the grantor. [...]
Ways to Save for Your Child’s College Education
The cost of college education and accompanying expenses have soared. The earlier you start saving, the better prepared you'll be for future costs. There are numerous ways to save for [...]
Should I be a joint tenant on accounts with my aging parent?
Adding yourself as a joint tenant on your aging parent's accounts might seem like a simple solution to manage their finances. It offers some advantages, such as easy access to [...]
Real Estate Syndication Investment Cautions: Insights from a Fee-Only Financial Planner
I spent 12 years in commercial aviation, and it always amazed me how the confidence in handling a commercial airliner extended to other areas of a pilot's life that they [...]
Why is money one of the leading causes of divorce?
Studies show that there isn’t one cause to single out as the sole factor leading couples to divorce, but rather there are multiple factors at play such as a lack [...]
How do I avoid the 10-year rule for an inherited IRA?
In recent years, the distribution rules have changed for non-spouses who inherit retirement accounts. Previously, non-spouses could start taking distributions the year after the decedent passed, but could take them [...]
Saving for College: UTMA Accounts vs 529 Plans
When it comes to saving for college, there are different vehicles to use. Let’s compare UTMAs (Uniform Transfers to Minor Accounts) and 529 plans to see the best option. UTMAs [...]
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