Transferring Your Family Business
Oct 2, 2023
As a business owner, you’re going to have to decide when will be the right time to step out of the family business and how you’ll do it. There are many estate planning tools you can use to transfer your business. Selecting the right one will depend on whether you plan to retire from the business or keep it until you die.Facing the Possibility of Incapacity
Sep 29, 2023
Incapacity means that you are either mentally or physically unable to take care of yourself or your day-to-day affairs. Incapacity can result from serious physical injury, mental or physical illness, advancing age, and alcohol or drug abuse.Investing in Bonds
Sep 27, 2023
Bonds may not be as glamorous as stocks or commodities, but they are a significant component of most investment portfolios. Bonds are traded in huge volumes every day, but their full usefulness is often underappreciated and underestimated.
Tags: Certified Financial Planner Charlotte NC, Current Events, financial advisor charlotte nc, Investing, Investment Planning, Investments
Life Insurance and Estate Planning
Sep 25, 2023
Life insurance has come a long way since the days when it was known as burial insurance and used mainly to pay for funeral expenses. Today, life insurance is a crucial part of many estate plans. You can use it to leave much-needed income to your survivors, provide for your children’s education, pay off your mortgage, and simplify the transfer of assets. Life insurance can also be used to replace wealth lost due to the expenses and taxes that may follow your death, and to make gifts to charity at relatively little cost to you.Tags: Certified Financial Planner Charlotte NC, Estate Planning, Family Wealth, financial advisor charlotte nc, Insurance, Legacy, Retirement Planning
Government Shutdown Looms, Stocks Say ‘Been There, Done That’
Sep 22, 2023
The specter of a U.S. federal government shutdown continues to loom this week as Congress has just 12 days to agree on a budget before the October 1 deadline. House Republicans released a temporary measure on Sunday which could push the deadline out another month, with the hopes of a final solution coming in the interim. However, that proposal has encountered pushback even from within their own ranks, not to mention from across the aisle, and has yet to be voted on. The bad news is it looks like the government is headed for another shutdown; the good news is the stock market has seen this before. (more…)
Tags: Current Events, financial advisor, Investing, Investment Planning, retirement
Financial Tips for Young Families
Sep 20, 2023
The hardest part is getting started. Even though more than half of U.S. households have some form of investment in the stock market, many new parents may still find that creating a financial strategy is the last thing on their minds. And who can blame them? After all, new parents have a million concerns to keep in mind on top of any unexpected financial pressure that may arise. A few financial tips here and there can help set the basis for your future. Thus, for young families with discretionary income, creating a financial strategy may be easier than they realize.1 (more…)
Tags: financial advisor, Financial Planning, Personal Finance
Choosing an Income Tax Filing Status
Sep 18, 2023
Selecting a filing status is one of the first decisions you’ll make when you fill out your federal income tax return, so it’s important to know the rules. And because you may have more than one option, you need to know the advantages and disadvantages of each. Making the right decision about your filing status can save money and prevent problems with the IRS down the road.
Tags: Personal Finance, Retirement Tax Savings, Tax Advantages, Tax Deductions, tax guide, Tax Planning, tax season guide, taxes
Gift and Estate Taxes
Sep 15, 2023
If you give away money or property during your life, those transfers may be subject to federal gift and estate tax and perhaps state gift tax. The money and property you own when you die (i.e., your estate) may also be subject to federal gift and estate tax and some form of state death tax. These property transfers may also be subject to generation-skipping transfer taxes. You should understand all of these taxes, especially since the passage of the Economic Growth and Tax Relief Reconciliation Act of 2001 (the 2001 Tax Act), the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (the 2010 Tax Act), the American Taxpayer Relief Act of 2012 (the 2012 Tax Act), and the Tax Cuts and Jobs Act. The recent Tax Acts contain several changes that make estate planning much easier.Tags: Certified Financial Planner Charlotte NC, charlotte NC, Estate Planning, Family Wealth, financial advisor, financial advisor charlotte nc, Legacy
Social Security Survivor Benefits
Sep 13, 2023
When you think of Social Security, you probably think of retirement. However, Social Security can also provide much-needed income to your family members when you die, making their financial lives easier.Your family members may be eligible to receive survivor benefits if you worked, paid Social Security taxes, and earned enough work credits. The number of credits you need depends on your age when you die. The younger you are when you die, the fewer credits you’ll need for survivor benefits. However, no one needs more than 40 credits (10 years of work) to be “fully insured” for benefits. And under a special rule, if you’re only “currently insured” at the time of your death (i.e., you have 6 credits in the 13 quarters prior to your death), your children and your spouse who is caring for them can still receive benefits.
Market Update – Navigating Market Setbacks
Sep 11, 2023
Financial markets lived up to their reputation during the month of August, which has a record for being difficult. On the first day of August, markets had to contend with a downgrade of U.S. long-term debt by the rating agency, Fitch. They attributed the adjustment to the “expected fiscal deterioration over the next three years, a high and growing general debt burden, and the erosion of governance.” Many financial leaders characterized the downgrade as “ridiculous,” but the stock and bond markets still felt the effects. (more…)
More Insights
Oct 2, 2023
As a business owner, you’re going to have to decide when will be the right time to step out of the family business and how you’ll do it. There are many estate planning tools you can use to transfer your business. Selecting the right one will depend on whether you plan to retire from the … Continue reading “Transferring Your Family Business”
Sep 29, 2023
Incapacity means that you are either mentally or physically unable to take care of yourself or your day-to-day affairs. Incapacity can result from serious physical injury, mental or physical illness, advancing age, and alcohol or drug abuse.
Sep 27, 2023
Bonds may not be as glamorous as stocks or commodities, but they are a significant component of most investment portfolios. Bonds are traded in huge volumes every day, but their full usefulness is often underappreciated and underestimated.
Sep 25, 2023
Life insurance has come a long way since the days when it was known as burial insurance and used mainly to pay for funeral expenses. Today, life insurance is a crucial part of many estate plans. You can use it to leave much-needed income to your survivors, provide for your children’s education, pay off your … Continue reading “Life Insurance and Estate Planning”
Sep 22, 2023
The specter of a U.S. federal government shutdown continues to loom this week as Congress has just 12 days to agree on a budget before the October 1 deadline. House Republicans released a temporary measure on Sunday which could push the deadline out another month, with the hopes of a final solution coming in the … Continue reading “Government Shutdown Looms, Stocks Say ‘Been There, Done That’”
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