2023 Year-End Tax Planning Opportunities Are Here
Before you become distracted with the seasonal celebrations, it may be in your best interest to consider year-end tax moves that can benefit you for both 2022—2023 and 2023—2024.
When Should You Review Your Estate Plan?
An estate plan is a map that explains how you want your personal and financial affairs to be handled in the event of your incapacity or death. Due to its importance and because circumstances change over time, you should periodically review your estate plan and update it as needed.
Trusts Offer Control and Protection for Grandchildren’s Legacy
Chief Investment Officer Troy Harmon, CFA, CVA, is joined by Managing Associate Melanie Wells, CFP®, and Associate Peter Lynch explore the situation of a wealthy investor who wants to leave his massive estate to his five grandchildren. With the grandchildren ranging in ages from 3 to 20, the experts consider his option of using a trust to shelter their inheritance from estate and gift taxes. Additionally, the trust can allow him to control how his money is used from beyond the grave.
Medical Debt and Your Credit Report
Did you know that consumers are contacted by debt collectors about medical bills more than any other type of debt? Fortunately, there have been changes to the way medical debt is reported on credit reports.
Life’s Unexpected Twists: Why Insurance Is a Cornerstone of Your Plan
Chief Investment Officer Troy Harmon, CFA, CVA, Managing Associate Melanie Wells, CFP®, and Associate Clay Norman, CFP®, explain that insurance is the foundation of a solid financial strategy, providing protection and peace of mind in the face of unexpected events that could otherwise undermine financial stability.
Aging Gracefully: Managing Aging Parents’ Financial Affairs
Chief Investment Officer Troy Harmon, CFA, CVA, Senior Associate Logan Daniel, CFP®, CRPC®, and Associate Giuliana Barbagelata, CFP®, advise for an investor who will likely have to take over her aging parents’ finances. They discuss some basic steps as well as some other estate planning concerns.
College Forecast: Skepticism Toward Higher Education Rises
A 2023 survey found 56% of Americans saying a four-year college degree isn’t worth the cost due to students graduating with significant debt and a lack of specific job skills vs. 42% who think college is worth it.
HDHP/HSA Pairing May Help Control Medical Costs
If your employer offers health insurance benefits, one of your options may be a high-deductible health plan (HDHP) with eligibility for a health savings account (HSA). These plans offer potential savings by encouraging you to make cost-effective choices in your medical spending.
Rethinking Paradise: The Financial Considerations of a Second Home
Chief Investment Officer Troy Harmon, CFA, CVA, is joined by Senior Associate Michael Griffin, CFP®, and Associate Peter Lynch to help a couple of investors who are making an impulsive decision to buy a vacation home without looking at how it may affect their long-term financial plan. The financial advisers discuss how they incorporate large purchases into cash flow projections when clients are making spontaneous decisions.
Financial Aspects of Elder Care Planning
When seniors reach the point where they can no longer care for themselves, challenges can begin to mount, and you’ll quickly learn if you have planned well or if there are gaps in your elder care plan.