The S&P 500 was up 1.65% last week, leaving the index up 19.29% year-to-date. Due to the sharp runup, we began reducing equity allocations several weeks ago and have trimmed our overweight position in equities by two percentage points. We are planning another round of reductions in the coming weeks which will amount to as […]
Read MoreAuthor: Nicole Easton
Ask a Trust Officer: Saving for Retirement
Dear Trust Officer: How much of my salary do I need to save for retirement? — RESPONSIBLY PLANNING DEAR RESPONSIBILY PLANNING: The irreverent answer would be “all of it.” All kidding aside, there is no simple answer for everyone. The answer depends upon how many years until retirement, how much income will be required then, […]
Read MoreGenerosity and Taxes
Commencement speaker Robert Smith surprised the graduating seniors at Morehouse College in May when he announced that he would pay off all of their student loans. What are the tax implications of this magnanimous gesture? Potential gift taxes The value of Smith’s gift has been estimated at $40 million, for some 400 graduating seniors, about […]
Read MoreOpportunity Zones
According to the IRS: “An Opportunity Zone is an economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. Localities qualify as Opportunity Zones if they have been nominated for that designation by the state and that nomination has been certified by the Secretary of the U.S. Treasury via his […]
Read MoreMinors and Estate Planning
Reportedly, only one-third of parents with a minor child have a will in place. One obstacle seems to be the naming of a guardian for the child if a parent dies while the child is a minor. Considerations One should start with the largest possible list of potential guardians. Relatives, friends, business partners, parents of […]
Read MoreMoney and the Single Senior
Facts of life: Most retirees will be single for some period of time, and most of those singles will be women. Throughout the life cycle, financial planning for singles differs from planning for couples. Obviously, there is only a single set of assets to work with, and no surviving spouse to plan for. Less obviously, […]
Read MoreThe Federal Estate Tax Exemption Doubled. Now What?
PUT YOUR BENEFICIARIES FIRST The traditional “hot button” that has motivated people to see their lawyers about estate planning is taxation. Death taxes, such as inheritance and estate taxes, federal taxes, and state taxes have taken a notorious toll on unplanned estates over the years. With sound planning, that burden can be minimized or even […]
Read MoreKeeping a Family Business in the Family
One of the most important responsibilities we have when helping families with closely held businesses is to help them realize potential estate planning opportunities and/or problems. A classic example is with the Green Bay Packaging Inc. that was founded in 1933 by George Kress. The firm manufactures corrugated packaging, folding cartons, coated labels, and related […]
Read MoreAsk a Trust Officer: Stock Market Highs
Dear Trust Officer: The S&P 500 stock index has reached new highs. Should I consider selling now? — Prosperous but worried DEAR PROSPEROUS BUT WORRIED: Passing a stock index milestone is not a signal to buy or sell. However, it does focus attention on the market, and it may cause some investors to evaluate their […]
Read MoreNonprofit Service by TCK Team Members
Last week, Stephen A. English, C.T.F.A., Chairman & CEO of The Trust Company of Kansas (TCK), shared information in an article titled Charitable Giving is Growing Nicely. In it, we learned that total gifts to charities exceeded $400 billion for the first time ever, totaling $410.02 billion in 2017. We also learned that nearly a […]
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