Categories

Estate Planning

Avoiding the Most Common Estate-Planning Disasters by Scott Montgomery, CLU, ChFC

Posted September 29, 2022

After gathering the documents needed to file annual federal income tax returns, take a moment to review all your financial accounts before filing those papers in a drawer. Most importantly, look at how those accounts are titled and who is named as beneficiaries and consider if that information matches your current life circumstances and new […]

Don’t Forget Your Pets in Your Estate Plan By Robert Mark Weiss, CFA

Posted September 7, 2022

It is increasingly common for pet owners to make provisions in their wills to provide ongoing care of their furry companions in the event they pass away or become unable to do so on their own. Moreover, all U.S. states and the District of Columbia allow their residents to establish pet trusts and set aside […]

4 Critical Actions to Help Recession-Proof Your Finances By Kathleen Marteney, CRPC

Posted June 16, 2022

Looking back over the past two decades of the subprime mortgage crisis and the COVID pandemic, we are reminded that good times do not last forever. In each of these circumstances, we learned that the best way to protect yourself during hard times is to plan and prepare for a potential downturn while the economy […]

5 Common Mistakes to Avoid When Establishing Trusts By Brendan T. Hayes

Posted May 25, 2022

Trusts are essential to estate planning, regardless of your financial means. After all, you do not have to be a millionaire to protect your family members and plan for their continual care after you are gone. With a trust, you can help ensure that your wishes are followed, and your assets are transferred to heirs […]

You’re Never too Young to Begin Estate Planning By Sean Deviney, CFP®*

Posted May 19, 2022

Planning for retirement is often the last thing recent college graduates consider upon entering the job market and earning a steady income. However, there is no minimum age when people should start thinking about saving for the future, whether it is for the purchase of a new car or home, to support a growing family, […]

Avoiding Tax Traps in Your Financial Plan By Robert Mark Weiss, CFA

Posted April 28, 2022

Your income can come from various sources, including employment wages, business income, investment returns and even lottery winnings. As you receive money, it is important to recognize what you are required to report to the IRS and the amounts subject to federal taxes (and sometimes state and local taxes as well.) Understanding these concepts can […]

Understanding Your Choices When Selecting a Trustee By Eric P. Zeitlin

Posted April 20, 2022

People spend a significant amount of time building their wealth and carefully creating trusts and mapping out an estate plan to protect and preserve their assets for future generations. Yet, when it comes time to naming a trustee to carry out their wishes under the terms of a trust, many people stumble. Making the right […]

President Introduces 2023 Budget Proposal, Calls for Higher Taxes on Billionaires By Todd A. Moll, CFP®, CFA

Posted April 5, 2022

On March 28, the Biden administration unveiled its fiscal budget for 2023, indicating its plan to “cut costs for families, cut the deficit and expand the productive capacity of the economy.” Among the provisions included in the budget are higher tax rates for corporations and individuals, including a new minimum tax on billionaires. Whether these […]

Differentiating Between Revocable and Irrevocable Trusts By Brendan T. Hayes

Posted March 3, 2022

Trusts can play a critical role in helping individuals protect their wealth and ensure the efficient and private transfer of assets to beneficiaries after their passing. However, because the depth and breadth of different trust instruments are so vast, individuals must carefully structure their trusts to meet their unique needs and goals. A trust is […]

How to Help Beneficiaries Manage Financial Affairs, Thrive After a Family Member Dies By Scott Montgomery, CLU, ChFC

Posted February 15, 2022

One of the most critical yet often forgotten steps in estate planning is preparing a surviving spouse to take over a family’s financial affairs. Even if you checked off all the boxes on your estate-planning to-do list, creating a will, properly titling accounts, naming beneficiaries and structuring assets for tax efficiency, your plan may fail […]

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