Quotes 2020

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njMoneyHelp-thumb.jpgWhat happens to inherited IRAs under the SECURE Act?

njmoneyhelp.com – 1/31/2020

“Prior to Jan. 1 2020, when a beneficiary of an inherited IRA passed away, the successor beneficiary would “step into the shoes” of the current beneficiary and continue the Required Minimum Distributions (RMD) based on the life expectancy of the current beneficiary, said Patricia Daquila, a certified financial planner and certified publica accountant with Lassus Wherley, a subsidiary of Peapack-Gladstone Bank in New Providence."»read more »

njMoneyHelp-thumb.jpgCan a trust own a 529 plan for a grandchild?

njmoneyhelp.com – 1/28/2020

“A trust can be the owner of a 529 plan”, said Dawn Brown, a certified financial planner with Lassus Wherley, a subsidiary of Peapack-Gladstone Bank, in New Providence. She said the 529 plan will likely require you to disclose and provide supporting evidence, such as the trust agreement, showing who the trustees and successor trustees are so it can confirm who can make decisions about the account."»read more »

njMoneyHelp-thumb.jpgIs my mom liable for my dead father’s credit card debt?

NJMoneyHelp.com – 1/15/2020

“As a general rule of thumb. unpaid debts are paid from the deceased person’s estate, said Lisa McKnight, a certified financial planner with Lassus Wherley, a subsidiary of Peapack-Gladstone Bank in New Providence. She said in New Jersey, family members, including the surviving spouse, are not typically obligated to pay debts from their own assets unless they have co-signed the obligation.”​read more »

njMoneyHelp-thumb.jpgCan former N.J. residents come back from Florida for retirement?

NJMoneyHelp.com – 1/13/2020

“NJMoneyHelp.com asked Dawn Brown, a certified financial planner with Lassus Wherley, a subsidiary of Peapack-Gladstone Bank, in New Providence to review the couple’s finances to see how they can accomplish their goals. Brown said the couple’s expenses are far below their income, so they have a positive cash flow of more than $38,000 a year. With their low cost of living, they are not withdrawing any funds from their savings to fund their lifestyle in retirement, Brown Said. Here’s what Brown’s analysis found.”​read more »

njMoneyHelp-thumb.jpg10 New Year’s resolutions for your money in 2020

nj.com – 1/1/2020

“Remember that resolutions aren’t supposed to be a one-shot deal, but instead, are something to strive for through the year,” said Diahann Lassus, a certified financial planner and certified public accountant with Lassus Wherley, a subsidiary of Peapack-Gladstone Bank in New Providence. “When you make a resolution, first write it down, and second, think about the timeline for actually accomplishing it,” Lassus said. “Spend some quality time thinking about it and be serious about what is important for your short and long-term financial health.” Here are 10 resolutions for your finances.-Gladstone Bank, in New Providence. She said it is only possible to have one domicile at a time.” read more »

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