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Individual retirement account basics

A traditional Individual Retirement Account (IRA) is an account that has been funded by pretax dollars that are held by a custodian until you reach the age of retirement. With Baby boomers reaching that age, these accounts will become very important in determining when a person can retire and continue…
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Second marriages: part two

This is the second part of a previous article relating to problems with second marriages and the transfer of assets at death. Here is a partial list of assets and the potential problems when titling is not updated. No written agreement. Most couples made a handshake and a kiss and…
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Second marriages

People are living longer today. Many are remarrying to fully enjoy the second half of their lives. This being said, many estate problems can occur when no estate planning is completed prior to or after the marriage. This will be a two part series. The purpose of these articles is…
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What happens now?

When a person dies, one of the first questions to arise is “where does everything go?” Here is a quick overview of how assets pass at death. By Law Ohio statutes allow assets to be titled in such a way as to permit automatic transfer upon death with the presentation…
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Entity Primer

Bob has a sole proprietorship, John has an LLC. A group of business men have a general partnership and the Jones family has a limited partnership. What are all of these entities? Following are brief basic definitions that can be helpful in deciding what entity to create as part of…
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Five year crystal ball

Maybe it has something to do with the weather, but lately one of the most common questions by new clients is how to protect major assets from being liquidated to cover nursing home expense. Many years ago, I was advised by the State of Ohio that it was malpractice not…
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FDIC- personal accounts

 By Jeff Roth With all of the national concerns, even protection of our funds in a nationally insured banking institution can be at issue. Several years ago the government increased the amount of coverage from $100,000.00 to $250,000.00 per depositor, per insured bank, for each account ownership category. The government…
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