Estate Planning
Estate planning is more than just writing a will
The term “estate planning” covers a broad set of topics and can be both confusing and overwhelming to anyone who isn’t familiar with the concept. There is a wide variety of estate planning strategies available. Regardless of wealth, everyone should
Don’t Send Your Child Off to College Without These Four Tools
Preparing your child for college is an exciting but often hectic time. Between the college applications, housing forms, class registrations and meal plans, there is a lot to manage. One crucial aspect that is often overlooked, but should be included on every parent’s college checklist, is estate planning. Why it
What You Should Know About Required Minimum Distributions (RMDs)
What are RMDs? At some point, the government wants you to start spending your tax-sheltered retirement savings, or at least pay taxes on the income. That’s why it requires you to withdraw minimum payments annually from your traditional IRAs and employer-sponsored retirement plans after you reach a certain age. These
What you need to know when choosing a beneficiary
When was the last time you reviewed your beneficiary designations? The beneficiaries you name on your financial accounts take precedence over a trust or will. That’s why making sure your beneficiary designations are current is critical. We recommend reviewing your beneficiaries annually, and after major life events like marriage, divorce,
Revising Estate Planning Strategies
When the rules of the game change, your tactics should follow in response to the new landscape. While estate tax exemptions have ridden an uncertain roller coaster in recent years, the rules appear to be stabilizing after the passing of the Tax Cuts and Jobs Act, prompting many to reconsider
Four ways to make charity part of your family’s financial plan
As your family’s wealth grows, you may start to prioritize giving back to your community. Cultivating philanthropic values can help foster responsibility and a sense of purpose among both young and old alike, while fulfilling your financial goals. Charitable donations may be eligible for income tax deductions (if you itemize)
Tips for Managing an Inheritance
As the beneficiary of an inheritance, you are most likely to be faced with making many important decisions during an emotional time. Short of meeting any required tax or legal deadlines, don't make any hasty decisions concerning your inheritance. Identify a Team of Trusted Professionals Tax laws and requirements can
Introducing the Waqf of Al Khammash
After months of investigation, research, and translation, we are thrilled to share the waqf (endowment) document of Sheikh Abdul Wahed Efendi Al Khammash (may Allah have mercy on him), great great grandfather of Azzad's founder and CEO Bashar Qasem. Sheikh Abdul Wahed was the grand judge of the city of
