Question:
I still have some shares of Gannett Co. from my days in newspapers. I’ve made my money over the years, taking some huge profits in the early 2000s. I still have about $7,000 in Gannett. It’s only 3% of my portfolio. But I’m willing to let go of a bygone era if there is a better buy out there. What are your suggestions?
Answer:
Gannett Co., Inc. (NYSE: GCI) is an international media and marketing solutions company, delivering content and services across an integrated, multi-platform portfolio. The company primarily owned newspaper and magazines in the past. They cut their dividend in 2009, which indicates the company is not doing well. We would not own the company.
Question:
My husband’s grandmother set up a grantor retained unitrust for him many years ago. What is this?
Answer:
A grantor retained unitrust (GRUT) is an irrevocable trust into which a grantor makes a one-time transfer of property, and in which the grantor retains the right to receive a variable amount (based on a fixed percentage of trust assets valued annually) at least annually for a specified term of years. At the end of the retained unitrust period, the property remaining in the trust passes to the remainder beneficiaries or remains in trust for their benefit.
A transfer of property to an irrevocable trust is a taxable gift. The value of the gift on which gift tax is imposed is generally its fair market value. However, because the grantor retains an interest in a GRUT, the value of the transfer is discounted; gift tax is imposed only on the remainder interest and any gift tax due may be sheltered by the grantor’s lifetime gift and estate tax exemption—$5,250,000 in 2013.
Question:
I’m planning on living in Europe for several months. Do I need special health insurance?
Answer:
The first step would be to determine the amount of time you will be there. If you plan to stay more than six months then you will need to look at a more permanent insurance solution.
Unless you’re in the military or working for an American company abroad that has a health plan in place, you’ll need to make sure that your health insurance will cover your needs, don’t wait until you’re already sick or injured to do it.
If you’re planning to travel overseas, be aware that your health insurance plan may not cover you at all. Before you set foot on foreign soil, check the limitations of your policy and call your insurer’s customer service department if you have any questions.
Most managed care plans, such as health maintenance organizations (HMOs) or preferred provider organizations (PPOs), will cover emergency treatment. HMOs may pay nothing if you see an out-of-network health-care provider for routine care, PPOs may pay only part of the cost.
If you’re going to be away for less than six months, a short-term supplemental health insurance policy may be sufficient for your needs. These policies are available from insurance companies or travel agents, and they offer accident and sickness coverage.
At Henssler Financial we believe you should Live Ready, and that includes insuring you’re your understand how your financial future is impacted by your financial decisions. If you have questions regarding your financial situation the experts at Henssler Financial will be glad to help. You may call us at 770-429-9166 or email at experts@henssler.com.