The SECURE Act, which was effective January 1, 2020, is the most impactful legislation affecting retirement accounts in decades. The SECURE Act has some positive changes: it increases the required beginning date (RBD) for required minimum distributions (RMDs) from...
As our population ages, more and more adult children find themselves having to help a parent or other elderly relative deal with legal and financial matters. To legally authorize that help, the senior should have a valid Power of Attorney. The Georgia Power of...
Because the income tax on an IRA is deferred, a beneficiary who inherits an IRA is required to either: withdraw all the funds within 5 years of inheriting and pay the income tax due on the entire account; or take annual required minimum distributions (“RMD”) and pay...
When putting together your estate plan, you need to choose an Executor, the person responsible for administering your estate. Once you’ve decided on who that should be, there are things you can do to help your Executor out. Prepare a list of assets, including real...
A Power of Attorney is a legal document that names another person as agent to handle financial and business affairs for the person who signed the Power of Attorney. On July 1, 2017, Georgia implemented a new law on Powers of Attorney that should make it easier for...
A Power of Attorney is a legal document giving someone, known as the “agent”, the authority to handle financial and legal matters for the person who creates the Power of Attorney, called the “principal”. A Power of Attorney can be limited: an elderly mother gives her...
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