Why Choose Gaughan & Connealy for Estate Planning? Spoiler: We Don’t Work Out of a Basement.Hello, Jamie Smead here from Gaughan & Connealy, where estate planning isn’t just a side gig—it’s what we do, and we do it well. Let’s face it, estate planning isn’t the most glamorous branch of law, so most attorneys focus on flashier fields. But what happens when your estate attorney spends more time with traffic tickets than trusts? You may end up with a plan that’s more “loose ends” than … [Read more...] about Why Choose Gaughan & Connealy for Estate Planning? Spoiler: We Don’t Work Out of a Basement.
retirement planning
Keeping the Peace (and the Holidays) in a Blended Family
Keeping the Peace (and the Holidays) in a Blended Family: The Importance of Estate PlanningHey there, Casey Connealy here from Gaughan & Connealy Estate Planning Attorneys! Let’s talk about a topic that might sound a little dry but trust me, it’s more important than knowing which side of the family is bringing the green bean casserole to Thanksgiving this year. If you’re part of a blended family, estate planning isn’t just a "nice to have"—it’s essential.Why, you ask? Well, here’s … [Read more...] about Keeping the Peace (and the Holidays) in a Blended Family
Hitting “Pause” at the Finish Line May Be a Costly Mistake
Don't shoot yourself in the foot by hitting "Pause" at the finish line.When it comes to estate planning, the decision to take that first step and meet with an attorney is crucial. You understand the need to protect your family, your assets, and your legacy. But there's a common mistake many people make after taking that first step—meeting with an estate planning attorney and then pausing with, "I need to think about it."It sounds reasonable at first—after all, estate planning can feel … [Read more...] about Hitting “Pause” at the Finish Line May Be a Costly Mistake
The SECURE Act – the Gift That Keeps On Giving
On July 14, 2023, the Internal Revenue Service (“IRS”) released an advance copy of Notice 2023-54 (the “Notice”) that provides relief to plan administrators, payors, plan participants, IRA owners, and beneficiaries in connection with the change in required beginning date for required minimum distributions (“RMDs”) under §401(a)(9) of the Internal Revenue Code (“Code”) regarding RMDs for 2023. The Notice warns that final Regulations relating to RMDs yet to be issued will apply beginning on … [Read more...] about The SECURE Act – the Gift That Keeps On Giving
What You Need to Know About SECURE Act 2.0
It might be appropriate to say that Christmas came early for retirement advisors and consumers in 2022 when Congress passed, and President Biden signed into law, the $1.7 trillion omnibus spending bill that included Setting Every Community Up for Retirement Enhancement (“SECURE”) Act 2.0 (the “Act”). President Trump enacted the original SECURE Act in December 2019, making radical changes to retirement planning by increasing the age at which a taxpayer could contribute to their Individual … [Read more...] about What You Need to Know About SECURE Act 2.0
SECURE Act 2.0 Would Bring Big IRA Changes
As elder law and estate planning attorneys, we pay close attention to legislative changes that can impact our clients. At the end of 2019, one of these situations started to come to light, and it became a reality when the SECURE Act was enacted in December.The changes took effect in 2020, and they affected some key rules for individual retirement accounts. In October, a fresh piece of bipartisan legislation that is being called SECURE Act 2.0 was introduced to expand the IRA … [Read more...] about SECURE Act 2.0 Would Bring Big IRA Changes
When Should Kansas City Residents Access Their IRAs?
Although, generally speaking, you can access your IRA at any point, the issue is whether you will be charged a penalty. Because an IRA is meant to be a "retirement account," the laws are made to discourage you from raiding your IRA funds until retirement. However, as with nearly everything, there are exceptions.Planning Your Retirement with IRAsHave you created your retirement plan yet? It's not too late to start. If you want a comfortable retirement, you can't simply rely on your Social … [Read more...] about When Should Kansas City Residents Access Their IRAs?
If You Want to Retire in Missouri, Be Prepared!
According to at least one article, there are many reasons to retire in Missouri. But what good is finding a great place to retire if you don’t have sufficient financial resources to do so comfortably? If you haven’t created your retirement plan yet, it’s not too late. Instead of relying on Social Security Benefits, you can have a comfortable retirement if you engage in comprehensive retirement planning. Individual Retirement Plans (IRAs) are an easy way to start your plan while saving and … [Read more...] about If You Want to Retire in Missouri, Be Prepared!
Can I Retire Now?
Are you more worried than excited about the idea of retiring? You don’t need to be. The most common concern is whether you have saved enough to be able to retire safely and comfortably. So, if you are wondering – can I retire now? Here are the most important things you need to consider to start saving and to be sure you have an appropriate retirement plan in place to secure your future.You first need to have reasonable retirement goalsOne of the first issues that arises for clients when … [Read more...] about Can I Retire Now?
Should I Use an IRA in My Retirement Planning?
If you haven’t started working on retirement planning yet, you still have time but you should get started now. To have a comfortable retirement when the time comes, you should not simply count on your Social Security benefits. Instead, you should create an appropriate retirement plan to meet your future needs and give you the comfort and security you will need in your golden years. One of the best ways to start your plan is to establish an Individual Retirement Account (IRA) to help you save … [Read more...] about Should I Use an IRA in My Retirement Planning?
