An advance directive is a written statement that you complete in advance of a serious illness. Generally speaking, this document names someone to act on your behalf or outlines how you want medical decisions to be made when you are no longer able to do so. Some types of advance directives may be able to do more for you than others, so it is important to know the differences.

You’ve worked long and hard to accumulate the assets that you are using to help finance your retirement. Now, it's time to start drawing down those assets.

For many investors, a large portion of their investments are held in 401(k)s, IRAs, or other tax-favored retirement vehicles. While these accounts can be ideal for sheltering retirement savings from taxes both preretirement and post-retirement, they can also be highly vulnerable to tax losses in an estate, if they are not bequeathed properly.

Retirement Account Distributions After Age 70½  

BASIC DEFINITION:

A health savings account, commonly referred to as an HSA, is a triple tax advantaged medical savings account available to taxpayers who are enrolled in a “high-deductible health plan” (HDHP).