Insights & Financial News | Oak Road Journal

Insights

What Is the Major Disadvantage of a Trust?

The major disadvantage of a trust is cost and ongoing administrative burden. Setting one up typically requires attorney fees, retitling every asset into the trust’s name, and maintaining it properly over time.

What Assets Should Not Be in a Will?

Most people assume a will covers everything they own. In practice, it covers far less than that—and knowing the difference can have a significant impact on what actually happens to your estate.

Why Does Everyone Want to Avoid Probate?

If you’ve ever heard the word “probate” come up in a conversation about estate planning, you’ve probably also heard a collective groan follow right behind it. That groan is well-earned.

What Is the Biggest Mistake with Wills?

Most people think having a will means their estate is handled. The biggest mistake with wills is treating them as a one-time task rather than a living document — and that single error can trigger a chain of costly, painful consequences for the people you love most.

What Do Most People Do With Their 401(k) When They Retire?

When you spend decades building a 401(k), retirement can feel like the finish line. But for your retirement savings, it’s really the starting line of a new challenge: figuring out what to do with that money for the next 20 to 30 years.

How Long Do I Have to Roll Over My 401(k) After Leaving a Job?

If you’ve recently changed jobs or retired, you may be wondering how long you have to roll over your 401(k). The short answer: in most cases, there is no hard deadline. Your old 401(k) can sit right where it is — sometimes for years — without any penalty.

What Are the Disadvantages of a Backdoor Roth?

If you earn too much to contribute directly to a Roth IRA, a backdoor Roth IRA is a popular strategic workaround. However, while the tax-free growth is enticing, this maneuver isn’t a “free lunch.

Are Backdoor Roth IRAs Still Legal?

As tax laws continue to evolve with the full implementation of SECURE Act 2. The most common question hitting financial planners’ desks this year is: Are Backdoor Roth IRAs still legal?

Who Cannot Do a Backdoor Roth IRA?

If you are a high-income earner, you likely already know that the IRS “guards the front door” of Roth IRAs. For 2026, if your modified adjusted gross income (MAGI) exceeds $168,000 (single) or $252,000 (married filing jointly), you are barred from making direct contributions.