Elder Law

Cash-value life insurance policies are tax-deferred, meaning that the cash value component of such an insurance policy will not be taxed as it grows. Because the money is growing faster, the [...]

What is cash value life insurance? Cash-value life insurance is a type of permanent life insurance featuring cash value savings. Because it is permanent life insurance, it lasts the [...]

When utilizing a 401(k) plan for your retirement savings, you may be given the option to choose between a traditional or Roth account, but it does not always have to be one or the other. Instead, [...]

Many large companies offer their employees a 401(k)-retirement plan; a decision that may come with this benefit is whether to choose a traditional 401(k) or a Roth 401(k). Here are some reasons [...]

What is a Roth 401(k)? A Roth 401(k) is a type of retirement savings account that is less prevalent than the traditional 401(k) but is growing in popularity. These accounts have features similar [...]

401(k) Contribution Limits for “Highly Compensated Employees.” If you are a highly compensated employee (“HCE”), you may be subject to certain limitations on the funds you may contribute to your [...]

Total Limits on 401(k) Employer and Employee Contributions Total 401(k) contribution limits refer to the maximum contribution amount by both employer and employee. In 2022, the total contribution [...]

What is a 401(k) plan? A 401(k) is an employee-sponsored retirement savings account. With a 401(k), individuals invest pretax funds directly from their paychecks into an employer-sponsored [...]

On March 29, 2022, the House of Representatives passed the Securing a Strong Retirement Act (“the Act”) with a bipartisan vote of 414 to 5. The Act has been nick-named the “Secure Act 2.0” as it [...]

An older RMD age will allow IRA owners to defer withdrawals, allowing assets to continue growing for longer. Removing the age limit for individuals to contribute to their IRA accounts benefits [...]