Grandparent 529 Plans Get a Boost Under New FAFSA Rules
Grandparent-owned 529 plans were treated more harshly than parent-owned 529 plans on the FAFSA. This will change thanks to the FAFSA Simplification Act that was enacted in December 2020.
6 Tips for Managing an Inheritance
We all dream of a distant, rich uncle who will leave us lots of money in his will; however, an inheritance comes with lots of consequences. We provide 6 tips to manage your newfound wealth.
Getting Married and Related Tax Issues
If you postponed your “I Do’s” in 2020, and are recently married in 2021, here is a checklist of “to do’s” to help you make some important tax decisions.
Starting Your Financial Journey Over After a Divorce
This week on “Money Talks,” Managing Associate K.C. Smith, CFP®, CEPA, and Associate Melanie Wells, CFP®, join Chief Investment Officer Troy Harmon, CFA, CVA, in providing some advice for an investor in his 50s who finds himself with substantially fewer assets after his divorce. The financial Experts give a laundry list of areas that need re-examination now that his financial goals have changed.
Should an Executor Account for Non-Probate Assets When Distributing Assets According to the Will?
Chief Investment Officer Troy Harmon, CFA, CVA, is joined by Managing Associate Shawna Theriault, CFP®, CPA, CDFA®, and Arun Gupta, an estate planning attorney with Reeves Law, PC, to answer a listener’s question on whether a Will should consider money that transferred by beneficiary designation. They discuss language the Will may contain that would give the executor guidance as well as options for the executor and heirs to consider.
Establishing a Financial Safety Net
Emergencies often cost money—car repairs, hospital bills, lost job, etc. Having a financial safety net in place can ensure that you’re protected when a financial emergency arises.
Engaging the Uninterested Spouse in Family Finances
Principal Jennifer Thomas, CFP®, and Associate Michael Griffin, CFP®, join Chief Investment Officer Troy Harmon, CFA, CVA, to discuss the importance of including an uninterested spouse in household financial and investment conversations. They consider patterns seen among clients and how, as advisers, they work to meet each spouse on a level that they understand.
2021: The Year of Substantial Tax Breaks for Families with Children and Lower-Income Taxpayers
The American Rescue Plan Act included several tax benefits that will impact families with children and lower-income taxpayers during 2021, including increased childcare benefits, an increased child tax credit, as well as advanced monthly payments for some.
Considerations When Making Gifts to Children
Children love getting gifts, but if you’re planning on gifting a ton of cash, there are some tax issues to consider.
Superfunding a 529 plan to reduce your estate
As seen in the Marietta Daily Journal: Bil Lako, CFP®, explains that a couple could fund a 529 Plan up to $150,000 and use five-year gift tax averaging to avoid gift taxes. Click here to read the article.