Ask Bob: Social Security Survivor Benefit
Alhambra's Bob Williams answers a question about collecting a Social Security Survivor Benefit on an ex-spouse's work history if you've been remarried after the divorce.
Spousal Lifetime Access Trusts—a Treasure Chest for Married Couples
There’s an old axiom that says, “All good things must come to an end.” And unless Congress makes some changes, that’s what will happen to the current level of the federal estate tax exemption. As it stands now, every individual can give away $11.7 million of their estate free of inheritance and gift taxes. Married couples have a combined exemption [...]
Common vs Solemn Probate
Probate is a term most people have heard. It’s the court process required to settle an estate when a Will was used as the estate planning tool. What most people don’t know is that there are two types of probate—Common and Solemn. The executor chooses the one that is most appropriate. Common probate is used most often. It’s the easiest. [...]
Ask Bob: Should a Trust be Your IRA Beneficiary?
Alhambra's Bob Williams discusses whether a trust should be your IRA beneficiary rather than an individual.
Embracing Social Security Online
Customer service is mostly dead. It’s probably housed in the Smithsonian along with the T-Rex and TV rabbit ears. As technology has progressed and Millennials have come of age, we have been pushed, sometimes kicking and screaming, to conduct personal business online. The Social Security Administration is no exception. Call the SSA and you will hear, “Offices are open to [...]
4 Potential Pitfalls of Working During Retirement
Mom and Dad told us working was a good thing. It may not have seemed like it as kids when they were trying to turn us into fully functioning, responsible adults. But later in life, we discovered it was true. Working gives a sense of pride and accomplishment. It makes us independent. Many older Americans continue to work during retirement [...]
The SECURE Act Retirement Plan Rules
Why make it simple when difficult will do. That seems to be the motto of the Setting Every Community Up for Retirement Enhancement (SECURE) Act, even in its title. The SECURE Act has been the law of the land since January 1, 2020, and the 125 pages of reforms were, allegedly, supposed to make saving for retirement easier and more [...]
How the Social Security Earnings Test Can Work Against You
The checklist when preparing for retirement is a long one. But you need to be aware of one item in particular if you intended to start taking Social Security before your Full Retirement Age (FRA) and continue working—the Social Security Earnings Test. It can suck Social Security dollars out of the pockets of unsuspecting retirees. To paraphrase a familiar old [...]
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