RESOURCE LIBRARY

Laws and Regulations are constantly changing and it’s important to ensure that your financial plan and estate documents are up to date to reflect these changes. When your plan is current, you can rest easy knowing that you are taking advantage of every opportunity available to maximize your resources for you and your family. One of the most recent changes to date occurred just before the end of 2019 when Congress passed, and the President signed a spending bill that included significant changes to retirement savings accounts. Known as the Setting Every Community Up for Retirement Enhancement (SECURE) Act, this legislation changed rules around retirement plans in several key ways.

Inheriting an Individual Retirement Arrangement (IRA) account used to be a straightforward process, but changes in tax laws outlined in the SECURE Act of 2019 have brought some important modifications, especially for “non-spousal” beneficiaries. If you've inherited an IRA or a Roth IRA or you're planning for your beneficiaries, it's crucial to understand the new rules.

Medicare, the federal health insurance program primarily for Americans 65 and older, is a vital lifeline for millions of seniors. It ensures access to essential healthcare services, but it's important to note that it isn't a one-size-fits-all solution. Every year, during Medicare Open Enrollment, beneficiaries have the opportunity to make changes to their coverage to better suit their evolving healthcare needs.

ABLE (Achieving a Better Life Experience) accounts offer people with disabilities a great, tax-free way to accumulate money without jeopardizing their qualifications for Supplemental Security Income (SSI) and other means-tested programs. Withdrawals are tax-free as long as the money is used for “qualified disability expenses.”

Updates to CalABLE’s site and account platform will be happening this week. Here’s what you can expect from the changes and how it will impact you.

As a family with special needs, your journey is one of resilience, compassion, and unwavering love. Planning for two generations ensures that both your immediate and long-term financial needs are addressed, while simultaneously securing the financial well-being and future of your child.