Understanding Probate: And How to Avoid It

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Here is some more information about probate: Understanding Probate What is Probate? Probate is the legal process of petitioning the court to declare that a will is valid and appointing an executor to oversee the estate. The executor is the person chosen to carry out the wishes of the decedent. And the will provides instructions for what’s to be done. Probate assets are typically assets titled in the decedent’s name alone. Common examples include: Personal property such as furnishings, jewelry and collections. Bank accounts or deeds to real estate, in ...

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  • January 31, 2017

2017 retirement plan contribution limits

Elective Contributions to IRAs, 401(k)s and Other Qualified Plans On October 27, 2016, the IRS announced the new 2017 limits for IRA, pension and other contributions.  For the most part, the limits remain unchanged from 2016 because there was not a sufficient rise in the cost-of-living index, which is needed to trigger an increase. The maximum limit for contributions to IRA’s remains unchanged at $5,500 for 2017. If you are age 50 or older, you can contribute a maximum of $6,500 to an IRA for 2017, unchanged from 2016. You can make contributions to your IRA ...

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  • December 21, 2016