Can I name a charity as beneficiary of my IRA?

Yes, you can name a charity as beneficiary of your IRA, but be sure to understand the advantages and disadvantages. Generally, a spouse, child, or other individual you designate as beneficiary of a traditional IRA must pay federal income tax on any distribution received from the IRA after your death. By contrast, if you name …

Can I make charitable contributions from my IRA in 2016?

Yes, if you qualify. The law authorizing qualified charitable distributions, or QCDs, has recently been made permanent by the Protecting Americans from Tax Hikes (PATH) Act of 2015. You simply instruct your IRA trustee to make a distribution directly from your IRA (other than a SEP or SIMPLE) to a qualified charity. You must be …

What to believe?

It seems that “Truth” has become nothing more than a matter of opinion. I looked up the definition and there is some agreement as to its meaning. “Being in accord with fact or reality” is a good summary of what I found, but where do you find such a truth as this in our world?

Nearing Retirement? Time to Get Focused

If you’re within 10 years of retirement, you’ve probably spent some time thinking about this major life change. The transition to retirement can seem a bit daunting, even overwhelming. If you find yourself wondering where to begin, the following points may help you focus. Reassess your living expenses A step you will probably take several …

Common Financial Wisdom: Theory vs. Practice

In the financial world, there are a lot of rules about what you should be doing. In theory, they sound reasonable. But in practice, it may not be easy, or even possible, to follow them. Let’s look at some common financial maxims and why it can be hard to implement them. Build an emergency fund …

Surviving the College Application Process

Surviving the College Application Process There’s no doubt about it–the college application process can be stressful for many high school students and their parents. After all, it’s easy to feel overwhelmed while trying to manage numerous applications, each with varying deadlines and requirements. If your child is applying to college, here are some things to …