The Secure Act Of 2019
By Ryan Neupaver

At the end of 2019, Congress passed the most sweeping change to retirement rules in over a decade.Known as the Setting Every Community Up for Retirement Enhancement Act (SECURE Act), this legislation went into effect on January 1, 2020, and impacts retirement and estate planning rules. Here are a few of the biggest takeaways from the Act:

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Will my mother’s timeshare nightmare be passed to me?
By Quentin Fottrell 

Dear Moneyologist, My mother, who is still alive and kicking, informed me that when she passes, I will receive in her will a timeshare annual vacation package that she has had for many years. This timeshare has annual maintenance fees that I do not wish to be saddled with. She indicated that it states something to the fact in her contract that her heirs will take over the timeshare upon her death. I should also note that no one else in the family, near or distant, wants any part of this timeshare as well.

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What happens to your debts after you die?
By Sarah Skidmore

When you die, you don’t just leave behind your family and your legacy. You also leave behind your debts. But what happens to those debts once you’re gone? In general, your assets and debts become part of an estate. It’s the estate’s responsibility to pay them. If there’s any money left, it goes to your heirs. If there’s not enough money to cover all the debts, they may go unpaid. It can get complicated though, so here are a few things you should know:

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Ten Questions to Ask When Picking a Financial Planner
By Mark Miller

The financial planning profession is growing explosively as millions of aging baby boomers confront the challenges of planning for retirement security. Readers of this column have been writing to ask if they need a planner-and how to go about hiring one.

Retirement planning poses complex challenges-and investing wisely is just one part of the picture; you also need to understand the roles of Social Security, taxes, mortgages, insurance, debt, health care and longevity. You should learn all you can about these topics, but professional assistance with decision making and timing can make all the difference in helping you to get ahead for the long run. More often than not, a financial planner is worth the expense.

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