Wills, trusts, revocable trusts, non-revocable trusts, power of attorney. These are just a few of the many terms that people sometimes get tangled up in when trying to make the right decision.
A brother and a sister inherit 750 thousand dollars from their parents and plan to invest it all in a joint account and let it ride out for many years to grow. This was the situation of one listener this week and Michael Clark and John McCann dove in to clear up why using a joint account with a sibling or even a spouse with inherited money might not be the best decision.
The thought of going into retirement and running out of money is something that worries clients of John McCann and Michael Clark all the time. It is no fun watching someone worry about how much money that have left when they should be enjoying their time in retirement.
It is just about that time of year again! No, I don’t mean when the leaves change, store deals show up, and kids run around with more candy than they know what to do with. I am talking about the Medicare open enrollment period!
Small business owners are often looking for the best way to maximize their money while paying Uncle Sam as little as possible! In this episode we have a couple of great texts and calls asking about taxes pertaining to 401K’s and the taxes as a business owner.