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It can make sense to convert a traditional IRA into a Roth account if you think that your current federal income tax rate is lower than it will be when you retire. Currently, federal income tax rates are low by historical standards- but that might not last much longer.
Succession planning is important in any business, but it’s sometimes overlooked in family-owned operations. This is a big mistake. There are numerous former family-run companies that no longer exist due to poor or no succession plan.
Did you know there are estate and tax planning techniques available to clients that are the wealth creators in their families but whose parents or grandparents do not have significant wealth? A planning technique, commonly known as “upstream power of appointment” or “senior power of appointment” (UPOA), provides for a general power of appointment (GPOA)