November 2019 Roundup for Professional Advisors

elderly couple meeting with a professional advisor

In our roundup for professional advisors, we explore IRA and 401(k) contribution limits for 2020, reasons to update estate plans, and inheritance size. Read below to stay in-the-know on industry news.

Roundup for Advisors

Article of the Month: How Much is Enough?

Many parents with midsized and larger estates would like to benefit children with an inheritance. An inheritance is not meant to make children worse people, but rather it is given in the hope that they will become better people. Parents who have midsized to large estates have the ability to transfer a substantial inheritance. But the question that quite often arises is, “How much is enough?”

Personal Planner: Ten Reasons to Update Your Estate Plan

You have completed a will and perhaps a revocable living trust. Your durable power of attorney for healthcare and a living will are in place. All of your records are safely in place and carefully organized. So you now are finished with your estate planning. Or are you? This article outlines the instances where you should consider revising or updating your plan.

Washington News: IRA and 401(k) Contributions in 2020

On November 6, 2019, the IRS announced the 401(k) and IRA contribution limits for 2020. The IRA limit remains at $6,000 in 2020. Individuals over age 50 may make a catch-up contribution of $1,000, for a total transfer of $7,000 in 2020.

Case of the Week: Lead to Remainder Double Charitable Trust

George was a man of humble beginnings. He was born in Nebraska and lived with his parents on their farm. He was also resourceful and after finding success buying and fixing up houses, he began to contemplate how he wanted to share his inheritance. He wanted to give his children a good income, but also help the charities he cared about most. This case outlines how George and his wife found the best solution to meet his complex goals.

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