Meet the Smith family. Mark is the co-owner of a small business with his wife, Margo. The couple has two adult children, Jessica and Larry. Mark also has a sister, Jan, whom he has been financially supporting for several decades. Mark and Margo each have their own retirement accounts. They have contributed to them since […]
Read More
Jocelyn and Mike Brown own two hundred acres of land overlooking a beautiful ski town with a mountain range in the background. Jocelyn and Mike have five children and 18 grandchildren. None of the children or grandchildren have the financial resources to buy the land outright so that the equity can be evenly divided amongst […]
Read More
Does looking back at 2020 bring on a feeling of panic? What happened? An unforeseen viral pandemic spread globally and brought financial destruction in its wake. Economists estimate that the pandemic’s total cost was more than $16 trillion in the U.S. alone. Each family of four had an estimated financial loss of $200,000.1 That, or […]
Read More
Funding a College Education: Don’t Be Overwhelmed by the Options New parents focus on milestones such as first steps and first words, not funding a college education. Investing in your child’s college education early in life can pay off in the long run. Each plan has a different menu of benefits and restrictions. It is […]
Read More
Many people are passionate about their collections, both the financially valuable (art or stamps) and the sentimentally valuable (mementos and postcards). If you have a collection—no matter its monetary value—you’ll want to include your treasures in your estate plan. Make arrangements in advance to ensure that the collection is handled in the way you want, […]
Read More
The federal gift and estate tax exclusion is currently very high; in 2020, the amount equals $11.58 million for an individual and $23.16 million for a married couple. At this level, only very wealthy people need to be concerned about taxes at the federal level. This may change in 2026 when the increased exclusion amount […]
Read More
You may decide to give to a charity because you believe strongly in a cause or organization, but there are also additional personal benefits to this move that you may or may not have considered. For example, charitable giving can reduce your yearly income tax bill and remove value from your estate, which can help […]
Read More
The United States has experienced a surge in immigration since 1970, and in 2019 alone, approximately 1,031,000 foreign nationals obtained lawful permanent resident status. It is essential for those individuals, just like U.S. citizens, to have estate plans in place. But there are several special issues non-citizens will need to consider as they move forward. […]
Read More
If you make a donation to a public charity, you are not limited to donating cash. Depending upon your finances and personal goals, you may be able to donate different types of accounts or pieces of property to the charity instead. Cash The fastest and easiest way to make a financial impact for your favorite […]
Read More
What Impact Will It Have On You and the Beneficiaries of Your Retirement Accounts Post Your Death? On December 20, 2019, President Trump signed the Setting Every Community Up for Retirement Enhancement Act (the SECURE Act), effective January 1, 2020. The SECURE Act contains, by far, the most significant changes to retirement planning in a […]
Read More
(855) 528-9637