In this episode, Certified Financial Planner Tyler Scott breaks down the essentials of income planning—the art of recreating your paycheck in retirement. From identifying your essential vs. discretionary expenses to coordinating income from 401(k)s, Roth IRAs, Social Security, and pensions, Tyler explains how to build a flexible, tax-efficient plan that supports your lifestyle through market ups and downs.
Naming a beneficiary on your investment account might seem like a smart way to avoid probate—but it could actually disrupt your estate plan. In this video, Beau Ruff explains why removing transfer-on-death (TOD) designations from non-retirement accounts can improve estate liquidity, simplify asset distribution, and ensure your will works as intended. Learn how centralized control and thoughtful planning can better serve your heirs and your legacy.
Adding your child to your bank account might seem like a simple way to ensure they can help manage your finances—but it could create more problems than it solves. From unintended disinheritance and gift tax issues to exposing your assets to your child’s creditors, joint accounts come with hidden risks. In this video, Beau Ruff explains why a power of attorney is often a safer, smarter alternative for granting access without giving up ownership.
Do you own rental property, a vacation home, or commercial real estate? Placing income-producing real property into a Limited Liability Company (LLC) could be one of the smartest legal and financial moves you make. In this video, Beau Ruff explains how an LLC can protect your personal assets, reduce liability, and even simplify estate planning—especially for out-of-state properties. Learn the key benefits, potential pitfalls, and why forming an LLC before you buy might save you time and trouble later.
If you're married and living in Washington state, your estate plan might be missing a powerful yet simple tool: the Community Property Agreement. Despite Washington being a community property state, assets don’t automatically transfer to a surviving spouse upon death. This one-page document can streamline your estate plan, ensuring your wishes are honored and your spouse is protected. Learn how it works, when it’s right for you, and why it might be the most cost-effective estate planning move you can make.
In the world of asset protection, one well-known concept to mitigate risk is to transfer the obligation for payment of a valid …
On March 24, 2023, the Washington State Supreme Court released its long-awaited opinion upholding the constitutionality of the new Washington Capital Gains …
Diversity comes in many forms and many related ways of accommodating different needs. When parents are planning for the needs of children …
Transferring wealth to children will become a touch easier in 2024. Buried in the estimated 4000-page Consolidated Appropriation Act of 2023 that …
In 2019, The SECURE Act changed the rules concerning the distributions from pre-tax Individual Retirement Accounts (IRAs) inherited through beneficiary designation (a …
Couples are often wary to bring up the dreaded P word when discussing their nuptials. After all, who wants to ostensibly discuss …
Periodically checking and updating beneficiary designations on retirement accounts and life insurance is prudent. The next time you navigate the online portal …
Different business entities like corporations and limited liability companies are governed by default laws published by state legislatures. Nonprofits in Washington are …
As Benjamin Franklin once said, “In this world nothing can be said to be certain, except death and taxes.” Taxes come in …
Some readers have heard of personal asset protection strategies like trusts or limited liability companies. The draw to products like these is …
Though most Americans have at least a passing understanding of the ability to use the equity in a house to obtain a …
One of the most important and common questions that retirees face is when to take social security benefits. Regrettably, there is no …
On occasion, you or someone you know might be asked to co-sign a financial obligation for the purchase of a car or …
Parents that have built a successful business and have raised capable children might find the proposition of selling the family business to …
When people come together and vow to spend the rest of their lives together in wedded bliss, they sometimes bring to the …
Non-retirement investment accounts are often set up with wealth management firms. When the account is set up, there is an option to …
