» Retirement

What is the Roth IRA 5-Year Rule

November 20th, 2024
The Roth IRA 5-year rule is an important concept in retirement planning that affects when you can withdraw funds from your Roth IRA without facing taxes or penalties. This rule applies to both contributions and earnings, as well as to funds you may h… Read More

Roth Conversion Rules

July 14th, 2023
Owners of a traditional IRA may consider converting their retirement account to a Roth IRA. If a possible Roth conversion has been on your mind, you may wonder if it makes sense at this time, and what the pros and cons of a conversion. In this blog p… Read More

SECURE Act 2.0

April 10th, 2023
In 2019, the federal government passed the Setting Every Community Up for Retirement Enhancement Act—more commonly known as the SECURE Act, the predecessor to the SECURE Act 2.0. That legislation made important modifications to laws affecting retir… Read More

How to Leave an IRA to Heirs

December 22nd, 2022
Retirement assets, including Individual Retirement Accounts (IRAs), often make up a large part of a deceased person’s estate. Retirement accounts are also, unfortunately, one of the biggest sources of estate-planning errors. The rules about distrib… Read More

How to Choose a Long-Term Care Facility

September 29th, 2021
By Ted Gudorf, JD, LLM Choosing a long-term care facility that is right for yourself or a loved one is an important decision based on many different moving parts and variables. As such, it is critical to assess this choice as objectively as possible… Read More

Using Your Tax Refund for Retirement Financial Planning

September 9th, 2020
The tax filing deadline was delayed for three months in 2020 due to the coronavirus pandemic. As a result, many of those who filed their taxes in July have recently received their income tax refunds. A tax refund can feel like a windfall, and many pe… Read More

Changes to Ohio Medicaid Law: Is Your Retirement Account a Countable Asset?

August 12th, 2020
If you have ever considered nursing home care for a loved one, you know that it’s costly. In Ohio, a private room in a long-term care facility can cost over $100,000 per year. Even if you have saved carefully for most of your life, it’s likely th… Read More

Medicaid Treatment of Retirement Plans

November 9th, 2018
As you are no doubt aware, nursing home costs in Ohio are high, and continue to rise. Even those families that have saved diligently for retirement often cannot afford to pay for an extended stay in a nursing home or long-term care facility. You may… Read More

Elimination of Roth Conversion Recharacterization

July 9th, 2018
For individuals saving for retirement, one of the things that makes a Roth IRA attractive is that the account is created and funded with post-tax dollars. This means the account owner need not pay income tax on funds when they are withdrawn in retire… Read More

Should You Have a Self-Directed IRA?

October 9th, 2017
Most people own a retirement plan of some type. It could be a traditional IRA, Roth IRA, Simple IRA, Traditional 401(k), Roth 401(k), SEP IRA, or 403(b). Very few people know that they can convert any of these retirement plans to a self-directed reti… Read More
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