by Great Plains | Jun 9, 2022 | Blog, Charitable Giving, IRA, Tax
As Congress continues to debate tax proposals within the Build Back Better bill, many high-net-worth individuals have questions about how to plan for anticipated changes to their tax liability. Regardless of the legislative outcome, here are some annual considerations...
by Great Plains | Jun 3, 2022 | Blog, IRA, Tax
One proposed piece of the Build Back Better legislation, which failed to pass in the Senate in 2021, is closing the financial planning loophole known as the “Backdoor Roth IRA.” A Backdoor Roth IRA is a nickname for a strategy that allows you to invest in a Roth IRA...
by Great Plains | Jun 1, 2022 | Blog, Charitable Giving, IRA, Tax
Now is the perfect time to consider your charitable giving for 2022. Getting started now gives you plenty of time to thoughtfully consider which charities matter most to you. It also gives you time to implement strategies to lower your tax bill and make the most of...
by Great Plains | Oct 12, 2021 | Blog, Power of Attorney
A key issue in preparing a Power of Attorney, or “POA,” is determining whether it will become effective 1) immediately or 2) only if you become unable to act for yourself. The second option is often referred to as a “springing” POA. A “springing” POA does not become...
by Great Plains | Oct 8, 2021 | Blog, Retirement
As the population of older adults in the United States continues to increase, more and more seniors are moving to some sort of retirement community. Whether you are looking to move to such a community or you are looking for a community for a loved one, there are some...
by Great Plains | Oct 5, 2021 | Blog
“Plans are nothing; planning is everything” – Dwight D. Eisenhower Starting with the first call you receive from the nurse’s office at your child’s school, most parents are acutely familiar with the anxiety of having their child experience an injury or...
