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Hubbard Radio Washington DC, LLC. All rights reserved. This website is not intended for users located within the European Economic Area.
Nobody likes to think about dying. But it happens whether we prepare for it or not. And if you don’t do some advance planning it can cause even more longer lasting pain and grief, not to mention money and strained relations for your loved ones.
Many people don’t think they have an “estate” but odds are — house, car, stock, Thrift Savings Plan balance, insurance — you do. Odds are you are in fact worth...
Nobody likes to think about dying. But it happens whether we prepare for it or not. And if you don’t do some advance planning it can cause even more longer lasting pain and grief, not to mention money and strained relations for your loved ones.
Many people don’t think they have an “estate” but odds are — house, car, stock, Thrift Savings Plan balance, insurance — you do. Odds are you are in fact worth more dead than alive, in a manner of speaking.
So we asked Tom O’Rourke for some words of wisdom. He’s an estate-tax attorney in the Washington, D.C. area, also a long-time IRS employee and Vietnam vet. He’s been working with clients — many of them active or retired feds — for decades. And he’s my guest on today’s Your Turn radio show at 10 a.m. EST. You can listen at www.federalnewsnetwork.com or at 1500 AM in the D.C. area. Shows are archived on our website so you can listen again anytime or refer it to a friend. If you have questions for Tom, send them to me before showtime at mcausey@federalnewsnetwork.com.
Perhaps after years of procrastinating you have finally completed your estate plan? And if so, now that you have it, what do you do with it? The following is a list Tom worked up of things you may wish to consider for estate plan, such as:
Many states have adopted uniform or statutory powers of attorney that are easy to implement and generally must be accepted by third parties. If you have not adopted your state’s statutory for power of attorney you may wish to consider this.
The Setting Every Community Up for Retirement Enhancement (SECURE) Act became law effective as of Jan. 1. This law has a significant impact on persons who hold tax deferred account. Some of the most significant changes include the following:
Now that you have done the hard part by implementing your estate plan, you need to be aware of the need to review it periodically to insure that it continues to meet your needs.
By Alazar Moges
Still keeping up with that resolution to start exercising again this year? Don’t feel too bad if you haven’t. A study by British non-profit UKActive found that the average adult spends more time on the toilet than they do exercising. An average of three hours and nine minutes on the toilet each week, but only around one hour and 30 minutes being physically active.
Source: UKActive
Mike Causey is senior correspondent for Federal News Network and writes his daily Federal Report column on federal employees’ pay, benefits and retirement.
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