New Rules for Inherited IRAs: Navigating Required Distributions in 2025
Protect Your Legacy from Tax Traps Imagine inheriting your parents’ IRA, only to lose 30% to taxes because of new rules you didn’t know about. For many Americans over 50, this is a real risk in 2025. The SECURE 2.0 Act has changed how inherited IRAs are taxed, requiring most heirs to withdraw funds within… View Article
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What Is a Will/Last Will and Testament? A Simple Guide for 2025
Last week, we explored trusts in simple terms—today, let’s talk about another key estate planning tool: the will, or last will and testament. At J. Davenport Legal, we helped thousands to understand these basics to protect their families. If you’re wondering “What is a will?” or “Do I need a last will and testament?”, this… View Article
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Understanding Trusts: A Simple Guide to Protecting Your Legacy in 2025
Last week, we explored what estate planning is—organizing your assets and wishes for when you can’t manage them. This week, let’s dive into trusts, a key tool to make that plan work. At J. Davenport Legal, we helped thousands use trusts to keep things simple and secure. If you’re wondering “What is a trust?” or… View Article
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What Is Estate Planning? A Simple Guide for 2025
Wondering what estate planning is? You’re not alone—it’s the top question we hear at Davenport & Associates! In simple terms, estate planning is about deciding what happens to your money, home, and responsibilities when you can’t manage them anymore, whether due to illness or passing away. It’s not just for the rich; it’s for anyone… View Article
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Common Estate Planning Misconceptions in 2025: Don’t Let Myths Cost Your Family
Common estate planning myths still persist in 2025, with only 33% of Americans having a will or trust, down 6% from 2023. From what we have heard from our clients at Davenport & Associates, these misconceptions can lead to costly mistakes like probate fees averaging $10K or tax losses up to 40%. If you’re thinking… View Article
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Why Estate & Retirement Planning Go Hand In Hand
Retirement benefits like IRAs and 401(k)s form a major part of estates, but improper planning can lead to tax losses of 60% or more. With a Birmingham EPC event today, August 7, 2025, highlighting case studies, it’s timely to explore integration. If you’re asking “Are my retirement benefits portable?” or “Is my estate plan updated… View Article
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