cornerstonews, Author at Cornerstone Wealth Strategies

04NovNovember 4, 2019

November 1 Begins Open Enrollment for Health Insurance Marketplaces

Beginning on November 1, 2019, individuals (including families) may apply for new health insurance, switch to a different health-care plan, or re-enroll in their current plan through a Health Insurance Marketplace under the Affordable Care Act (ACA). The open enrollment period for 2020 health coverage ends on December 15, 2019. If you don't apply for health insurance during the open enrollmment period - and don't qualify for special enrollment - your options are generally limited to employer-based coverage or purchasing...

04NovNovember 4, 2019

Could a Health Savings Account Help Strengthen Your Retirement Plan?

By one estimate, a 65-year-old couple who retire in 2019 may need about $300,000 in savings to pay their health-care expenses in retirement. This includes premiums for Medicare Parts B and D, supplemental (Medigap) insurance, and median out-of-pocket prescription drug expenses, but not other health expenses such as long-term care, dental care, and eye care. 1 In a 2019 Gallup poll, 25% of Americans age 50 to 64, and 23% of those age 65 and older, said health-care costs were...

20SepSeptember 20, 2019

New Transfer on Death Deed Avoids Probate and Seamlessly Transfers Land

One of the challenges facing an individual that owns property outside of his or her state of residence is the fact that a person’s estate generally must go through probate in the state of residence and any state where the deceased person owned real property. A relatively new law is making it simpler and less costly to avoid a secondary (aka “ancillary”) probate through the use of a Transfer on Death Deed. Each state is governed by its own laws. This can make planning for assets...

20SepSeptember 20, 2019

The Invisible Hand Steering Education: The Education Trust

Of course, there are many options available to pay for the education of a loved one. There are direct gifts, state-sponsored 529 plans, and educational savings accounts, to name a few. But, if a person both wants to use funds that are not available until after death and wants to influence how the money is spent with specified criteria, an education trust might be the best option. The education trust envisioned in this article is of the variety that is contained in your Last Will...

20SepSeptember 20, 2019

The Private Family Foundation

Financially successful individuals often contemplate the highest and best use of their assets. In some cases, those same individuals have decided that the natural objects of their bounty (i.e. the children) already have enough resources or that mom and pop have otherwise adequately provided for their children. Alternatively, some of the successful individuals have no apparent heirs to inherit the assets. If these same successful individuals are charitably-minded, the private foundation is an excellent option to fulfill the individual’s...

27JunJune 27, 2019

MIDYEAR OUTLOOK 2019

The LPL Research Midyear Outlook 2019: FUNDAMENTAL: How to Focus on What Really Matters in the Markets is here to provide economic and market guidance as well as investment recommendations to help us navigate the second half of 2019. LPL Financial Research believes that even as investors face prospects for periodic bouts of volatility, emphasizing fundamentals will remain critical for making effective investment decisions. LPL Financial Research’s Midyear Outlook 2019 provides updated views of current fundamentals and factors that should...

07MarMarch 7, 2019

NAVIGATING THE MARKETS

By LPL Research Portfolio Compass The Portfolio Compass provides a snapshot of LPL Research’s views on equity, equity sectors, fixed income, and alternative asset classes. This monthly publication illustrates LPL Research's current views and will change as needed over a 3- to 12-month time horizon. COMPASS CHANGES Upgraded precious metals view to neutral from negative/neutral. INVESTMENT TAKEAWAYS Expectations for solid but slower growth in the U.S. economy and corporate profits support our year-end 2019 fair value target for the S&P 500 of 3000.*We maintain...

30JanJanuary 30, 2019

Choosing an Income Tax Filing Status

Selecting a filing status is one of the first decisions you'll make when you fill out your federal income tax return, so it's important to know the rules. And because you may have more than one option, you need to know the advantages and disadvantages of each. Making the right decision about your filing status can save money and prevent problems with the IRS down the road. The five filing statuses and how they affect your tax liability Your filing status...

04JanJanuary 4, 2019

Step-Up in Tax Basis at Death

At death, there is a little-known tax benefit that the federal government provides. It is an adjustment to tax basis and it can have a profound effect on the taxation of the assets owned at death. This article discusses two kinds of tax that apply at death: the estate tax and the step-up in tax basis. Most Americans fear the estate tax. In reality, according to the Urban-Brookings Tax Policy Center, in 2013 less than 1% of people who...

19DecDecember 19, 2018

LPL Research Outlook 2019

LPL Research Outlook 2019: FUNDAMENTAL: How to Focus on What Really Matters in the Markets is filled with investment insights and market guidance for the year ahead. LPL Research believes the following three themes will be key to the markets: Sustaining growth via fiscal policy. We expect the ongoing impact of fiscal stimulus will be readily apparent in 2019 and that policy will continue to play an important role for the economy and financial markets—potentially extending the duration of the current...

Author - cornerstonews