The Federal Reserve raised the target rate for Federal Funds from a range of 0.50-0.75% to 0.75-1.00% at its March 15 FOMC meeting. Market interest rates as measured by U.S. Treasuries were mixed. During the quarter, the yield on the 13-Week T-Bill rose from 0.48% to 0.74% but the yields on the 10-Year Treasury and […]
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Living Trusts and Professional Trustees
Are you or is a loved one getting tired of spending the time and energy it takes to keep up with what seems to be the constant changes in life? Coping with the changes in markets and rates of return, income tax rates and reporting, retirement plan distribution rules, health care options, etc. can be […]
Read MoreAvoid a 50% IRS Penalty
An important deadline is approaching for those who turned age 70-1/2 in 2016 and elected to postpone taking their first required minimum distribution (RMD) in 2016. Those deferred, first year distributions must be taken by April 1, 2017. Since April 1 is a Saturday this year, make sure you take your distributions on or before […]
Read MoreReceive the Tax Benefit of your QCD
If you made a Qualified Charitable Distribution (QCD) from your IRA to a charity be sure to let your tax preparer know about it. The IRS Form 1099-R you receive from your IRA trustee or custodian reports the full amount of any IRA distributions made as normal distributions. The form does not specify amounts distributed […]
Read MoreWeekly Update 03-06-17
In financial planning and investment management, process is far more important than product. There are no good rules of thumb when it comes to managing wealth. Every individual has various traits, family situations, educational and work experience and goals which, when taken as a whole, make each of us unique. There is no formula for […]
Read MoreABA WEALTH MANAGEMENT AND TRUST CONFERENCE
LEARNING NEVER ENDS With dynamics affecting the wealth management and trust industry, our advisors make constant efforts to stay on top of all changes. Our continued education helps us put you in the best possible position to grow your wealth and protect your legacy. This month, Chairman & CEO Stephen English and Vice President & […]
Read MoreASK A TRUST OFFICER: LIVING TRUSTS
Dear Trust Officer: My parents are retired, living in another state. They have a sizeable investment portfolio and are financially comfortable. However, as they are getting older, they are having trouble keeping up with their paperwork. Last year they were late in making tax payments, very unlike them. I would help them, but I just […]
Read MoreWHEN GOOD FORTUNE COMES YOUR WAY.
Whether expected or not, an inheritance, divorce settlement, severance package or pension payout, proceeds from the sale of a business, life insurance, legal judgments, or even lottery winnings—all can put in your hands the equivalent of several years of earnings. NOW YOU’RE AT A CROSSROADS — suddenly called upon to switch from wealth-building mode to […]
Read MoreWeekly Update 02-27-17
Market Fluctuation Due to multiple requests, we are going to rerun some market statistics we previously provided in our Weekly Updates. The first chart shows the frequency of historical market declines. Such declines are normal occurrences in public markets. So, when is the next correction going to begin? No one can consistently predict the start, […]
Read MoreWeekly Update 02-21-17
Rule Number 1 A frequently repeated piece of advice from Warren Buffett is, “Rule Number 1: Never lose money. Rule Number 2: Never forget Rule Number 1.” As simple and useless as this piece of advice sounds, it points out an important money management and personal management starting point for every investor. It directs attention […]
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