Financial exploitation of our senior citizens is a growing problem. To some extent, seniors are targeted because that’s where the money is. However, the decline of cognitive ability in the older population also may be a factor when scamsters consider whom to go after. Financial professionals—bankers, brokers, insurance agents, and trustees, such as us—are on […]
Read MoreAuthor: Nicole Easton
Wealth and Longevity
You don’t have to be rich to live a long life, but it helps. Crain’s Wealth recently summarized several surveys on the subject. Some of the takeaways: According to an AMA study, the richest 1% of women live more than 10 years longer than the poorest 1% of women. For the men, the difference is […]
Read MoreNew Perspectives on Revocable Living Trusts
One of the most useful and flexible wealth management tools is the revocable living trust, traditionally, we like to point to three basic benefits that these trusts offer. Professional asset management. After studying your goals and circumstances, our asset-management specialists will map out a diversified investment program appropriate to your requirements. Our objective is not […]
Read MoreMissed the Deadline?
The IRS has released some tax tips for anyone who hasn’t yet filed a 2017 tax return. The due date was extended to April 18th after technical snafus at the IRS in accepting e-filings. • If a refund is due, there will be no penalty for the late filing. • The IRS Free File online […]
Read MorePlanning for Single Seniors
More and more seniors are finding themselves alone and without nearby relatives to help them with financial management. Persons in this situation will need to find an alternative – friends or professionals who can fulfill the roles that might otherwise be handled by family members. Delegated Powers For seniors, the most vexing problems are associated […]
Read MoreFiduciary Rule Update
When a financial professional provides investment advice, one of two different standards applies: 1. the recommendation is “suitable” for the client; or 2. the recommendation is the in client’s best interest. To the layman, the difference in these two statements may not seem like much, but to lawyers and regulators, there is a world of […]
Read MoreImpact Investing
DEAR TRUST OFFICER: What is this “impact” investing I’ve been hearing about? Can trust assets be invested for social impact? — SEEKING SOCIAL JUSTICE DEAR SEEKING SOCIAL JUSTICE: There is no simple definition of “impact” investing. One writer called it “a movement that aims to force social change by minimizing or eliminating investors’ exposure to […]
Read MoreEarnings, Prices, and Rates
The estimate for corporate earnings growth for the first quarter of this year now stands at 21%, up from 18% at the beginning of April. Although slightly lower for the week, stock prices in the month of April have responded positively. As of Friday, April month-to-date increases in the indices have been 1.1% for the […]
Read MoreTaxes and Living Trusts
Dear Trust Officer: How much can I save on my income taxes if I put my investments into a living trust? — Looking for Loopholes Dear Looking for Loopholes: Nothing. A revocable living trust that a grantor sets up to manage his or her wealth provides no income tax advantages. The trust’s income and capital […]
Read MoreEstate Plan Essentials
A surprising number of people have not yet attended to their estate planning. Perhaps this is because estate planning has become so much more complicated in recent years, even though the burden of taxes at death has been in decline. Estate planning now usually covers medical and financial decisions before the end of life, as […]
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