Inherited IRAs

DEAR TRUST OFFICER: I’ve inherited a substantial IRA from my parent. What are my choices? Can I roll over the money into my own IRA? What I’d really like to do is convert the inherited IRA to a Roth IRA. — FORTUNATE HEIR DEAR FORTUNATE: Those approaches are not available to you. Because you are […]

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The Value of Investment Advice

Jason Zweig, author and investment and finance columnist for the Wall Street Journal, has written a good deal about the financial services industry. I like the summary he used at the end of one of his recent articles: “A lot of Wall Street Journal readers have told me they think hiring a financial adviser is […]

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Modern bounty hunters?

The October 9, 2017, issue of The New Yorker included a shocking article titled “How the Elderly Lose Their Rights.”  The author, Rachel Aviv, was interviewed by National Public Radio.  This article should be read carefully by everyone who is 65 or older, and by everyone who has a relative who is 65 or older.  […]

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Year End Pre-Review

The S&P 500 finished the week at 2,675.81, another new high. Year-to-date, the index is up 19.52% and if the year had ended on Friday it would have been the 4th largest calendar year gain for the index so far in this century. If the index can at least hold onto its current month-to-date gain […]

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Paying for investment advice

Investment advisors may be compensated in several ways.  In some cases, they charge clients a fee for their advice. Sometimes they earn commissions from the investment products their clients buy based upon that advice.  Life insurance is sold on commission, for example. Sometimes the advisor may earn both fees and commissions. Trust departments and trust […]

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Recent Past Performance is No Guarantee…

The last 10% or greater correction experienced by the market as measured by the S&P 500 ended on February 11, 2016 with a decline of 13.31%. The index has since risen from that low point of 1,829.08 to Friday’s new high close of 2,651.50. Over that 95 week run the index is up 44.96%. Following […]

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Insurance and divorce

Beneficiary designations for life insurance or retirement plans are an often overlooked aspect of estate planning.  A change in life circumstances may suggest a need to change those beneficiaries.  Beneficiary designations can be the source of estate litigation, as a recent case demonstrates. Ronald and Heidi Lee had been married for ten years when Heidi […]

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A Pocket Full of Bitcoin

In spite of the already plentiful media commentary on Bitcoin, inquiries about the phenomenon continue to come in. Following is an abbreviated, nontechnical summary of our thoughts on the subject. In brief, if you are not already a regular user of online banking services and you do less than half of your Christmas shopping at […]

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