What Happens if I Take a Bigger RMD?

Benjamin Long IRA, RMDs

“Sometimes only taking the minimum IRA distribution can be a costly mistake. When deciding how much to withdraw this year, you need to consider the …

What Happens If You Don’t Name Beneficiaries?

Benjamin Long Beneficiaries, Guardians, IRA, Minor Children

“If you’ve had an IRA and a 401(k) for many years, you may occasionally ask yourself some questions: ‘Am I contributing enough?’ ‘Am I still …

How To Be Smart About a Financial Windfall

Benjamin Long Debt, IRA, Retirement, Taxes

Call Benjamin Long at (913) 359-8996 “Windfalls can result from fortunate events, like lottery winning, and unfortunate events, like a legal settlement. Whatever the triggering …

Inherited IRAs Require Careful Handling

Benjamin Long Beneficiaries, IRA, RMDs, Survivor Benefits, Trusts

“One wrong decision can lead to expensive consequences, and good luck trying to persuade the IRS to give you a do-over.” For those who inherit …

Social Security and Medicare and the Impact on Retiree Taxes

Benjamin Long IRA, Medicare, RMDs, Social Security

“Medicare has a series of income limits that trigger increasingly higher payments for retirees. And it’s not just the rich who are affected.” A 70% …

Five Top Reasons To Add Beneficiaries to Investment Accounts

Benjamin Long Beneficiaries, Estate Planning, Inheritance, IRA, Probate

“Losing a loved one isn’t just an emotional burden—it also carries an administrative load. There are flower arrangements to pick, eulogies to write and a …

Elder Financial Abuse Fraud Occurs, When No One’s Watching

Benjamin Long Dementia, Elder Financial Abuse, Executor, Fraud, Guardians, IRA, IRS

“Take, for example, the sad and sordid tax case of Mary Ellen Cranmer Nice vs. United States of America, which would not have existed if …

Are You Making the Most of the Secure and Cares Acts?

Benjamin Long Income Tax, IRA, RMDs

“There have been several law changes that affect IRAs passed since December 2019.” The SECURE Act made a number of changes to IRAs, effective January …

Tapping an Inherited IRA?

Benjamin Long Beneficiaries, Estate Planning Attorney, Inheritance, IRA, RMDs

“When a loved one dies, any leftover IRA funds they had, goes to whomever they labeled as beneficiaries. If you’re a beneficiary, you have to …

Elder Abuse Continues as a Billion-dollar Problem

Benjamin Long 401k, Dementia, Estate Planning, Estate Planning Attorney, IRA, Power of Attorney, RMDs, Wills

“The official figure for elder financial fraud used by a congressional committee is around $3 billion a year, but that’s based solely on reported cases …