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Will you outlive your retirement income? Are your financial expectations for the coming year realistic?

Our financial newsletters are designed to provide helpful information on a wide variety of financial topics. Simply click on one of the newsletter topics below to read the article in its entirety.

Spouse as Beneficiary of Traditional IRA or Retirement Plan

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Naming a beneficiary for your traditional IRA or employer-sponsored retirement plan may be one of the most important financial decisions you ever make. The beneficiary (or beneficiaries) you name will receive the funds remaining in your IRA or plan after you die, so you should certainly consider your loved ones' future needs. However, choosing the right beneficiary can be a complicated decision with many influencing factors. Your choice could have an impact in one or more of the following areas:

Qualifying Widow(er) with Dependent Child: Filing Status

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Qualifying widow(er) with dependent child — let's just call it qualifying widow(er) — is a filing status for federal income tax returns that may be available to you if your spouse died at any time during the prior two tax years. The filing status that you choose is important because it determines, in part, whether or not you are required to file a tax return, the amount of your standard deduction, the deductions and credits that are available to you, and the amount of your correct tax for the year. The qualifying widow(er) status allows you to use joint tax rates and the highest possible standard deduction (if you don't itemize deductions), so it's generally very advantageous for those who meet the requirements.

Articles

We've put together a library of information on important financial topics that we believe you'll find helpful.

Simply click on one of the general financial topics below and you'll find a selection of easy-to-understand information sheets about related financial concepts and strategies. This information is updated regularly to reflect the latest facts, figures, legislation, and economic trends.

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