Tag: Estate Planning

SECURE ACT Lesser Known Provisions

Feb 20, 2020

SECURE stack of binders and papers
What Younger Investors need to know

The SECURE Act passed into law in late 2019 and changed several aspects of retirement investing. These modifications included modifying the ability to stretch an Individual Retirement Account (IRA) and changing the age when IRA holders must start taking requirement minimum distributions to 72-years-old.1,2 (more…)

Tags: , , , , , ,



Ways to Fund Special Needs Trusts

Jan 27, 2020

Trust Wooden Blocks on Table
A Look at the Different Options & Strategies.

If you have a child with special needs, special needs trusts may be a financial priority. There are many crucial goods and services that Medicaid and Supplemental Security Income might not pay for. It may be used to address those financial challenges. Most importantly, a special needs trust may help provide for your disabled child in case you’re no longer able to care for them.

In planning for one, one of the most pressing questions is: when it comes to funding the trust, what are the options?

(more…)

Tags: , ,



Talking to Your Heirs About Your Estate Plan

Oct 14, 2019

People working at a table
They should not be left ill-informed or unaware.

Talking about “the end” is not the easiest thing to do, and this is one reason why some people never adequately plan for the transfer of their wealth. Those who do create estate plans with help from financial and legal professionals sometimes leave their heirs out of the conversation. (more…)

Tags: , ,



Why You Might Want to Create a Donor-Advised Fund

Oct 11, 2019

Hands holding a heart
A DAF can be a great way to give, with potentially great tax breaks.

Do you regularly donate to charities and other non-profit organizations? Then you may want to open a donor-advised fund.

Donor-advised funds are becoming popular. It is easy to see why. They offer potential tax perks, and in some instances, a chance to grow money set aside for charitable gifting. (more…)

Tags: ,



The Importance of TOD & JTWROS Designations

Sep 30, 2019

female teen hand with chalk on blackboard
A convenient move that could ward off probate on your accounts.

TOD, JTWROS – what do these obscure acronyms signify? They are shorthand for transfer on death and joint tenancy with right of survivorship – two designations that permit automatic transfer of bank or investment accounts from a deceased spouse to a surviving spouse.

This automatic transfer of assets reflects a legal tenet called the right of survivorship –the idea that the surviving partner should be the default beneficiary of the account. In some states, a TOD or JTWROS beneficiary designation is even allowed for real property. (more…)

Tags:



An Executor Checklist

Sep 25, 2019

Checklist
The steps you may need to take to fulfill a major responsibility.

If you are an executor to an estate, you must carry out your duties responsibly. Fulfilling these duties is not only a measure of your ability, but a measure of your character.You can approach these tasks methodically. In fact, it is probably best if you do. Here are the common steps required of executors, before and after the death of a testator.

What should you do now, before having to assume the role of executor? The most important thing you can do is to communicate with him or her. Ask where the will and other foundational estate planning documents are, so you can locate them when the time comes. See if they want an elaborate funeral, a simple service, or no service at all – and yes, ask whether burial or cremation is preferred. Ask for the contact info of the key financial, insurance, tax, and legal professionals connected to the testator’s financial situation, plus contact info for business partners, creative collaborators, and any relatives you may not know well. (more…)

Tags:



Put it in a Letter

Aug 14, 2019

Paper and pen
Express your wishes.

Actor Lee Marvin once said, “As soon as people see my face on a movie screen, they [know] two things: first, I’m not going to get the girl, and second, I’ll get a cheap funeral before the picture is over.”

Most people don’t spend too much time thinking about their own funeral, and yet, many of us have a vision about our memorial service or the handling of our remains. A letter of instruction can help you accomplish that goal.

A letter of instruction is not a legal document; it’s a letter written by you that provides additional, more personal information regarding your estate. It can be addressed to whomever you choose, but typically, letters of instruction are directed to the executor, family members, or beneficiaries. (more…)

Tags:



Will You Avoid These Estate Planning Mistakes?

Jul 17, 2019

Confused Child
Too many wealthy households commit these common blunders.

Many people plan their estates diligently, with input from legal, tax, and financial professionals. Others plan earnestly but make mistakes that can potentially affect both the transfer and destiny of family wealth. Here are some common and not-so-common errors to avoid. (more…)

Tags: ,



A Lesson from Uganda

Feb 12, 2016

Surrounded by Children in Uganda
Pure Joy and Happiness

Exactly one month ago today, I returned from a 12-day trip to Uganda. While there, myself and a group of 15 others did water projects such as building a rainwater harvest tank and making and distributing bio-sand filters. The organization that hosted the trip was a non-profit based out of Boone, NC called Wine to Water. Their founder, Doc Hendley, received a CNN Hero award back in 2009 for the incredible work that he himself had done both in Darfur and Uganda. Doc has inspired thousands, myself included. The work they do at Wine to Water changes lives. In fact, it changes entire communities. They do real boots on the ground stuff, bringing clean water to those in need. They make an impact with what they do. And I’ve seen it first hand. (more…)

Tags: , , , , , , ,



The Zuckerberg Impact

Dec 3, 2015

facebook_like_logo_1If #GivingTuesday wasn’t great enough on it’s own, Facebook ‘s founder and CEO Mark Zuckerberg stole the show with an absolutely extraordinary pledge to give away 99% of his Facebook fortune over his and his wife Priscilla Chan’s lifetime. That amount, as it stands today would total over 45 billion dollars. This will be done through their ongoing platform entitled the Chan Zuckerberg Initiative. Basically, the Chan Zuckerberg Initiative allocates money to organizations around the country — and eventually, the world — in order to make it a better place for everyone. (more…)

Tags: , ,



More Insights

Apr 3, 2020

“Every decade or so, dark clouds will fill the economic skies, and they will briefly rain gold. When downpours of that sort occur, reach for a bucket.” —Warren Buffett

Apr 2, 2020

From Our Partners at PAI: The CARES (Coronavirus Aid, Relief, and Economic Security) Act has been a topic of discussion for weeks as legislators discussed the best way to give Americans a much-needed boost as the economy has faltered due to the Coronavirus. Signed into law in late March, there are several provisions that will … Continue reading “CARES Act and Coronavirus Relief”

Apr 1, 2020

Factor #1 in our Road to Recovery Playbook is finding confidence in the peak of COVID-19 cases in the United States.  At Epic Capital, we are monitoring this factor daily, and we wanted to provide an update into what we are seeing. As shown in the Chart of the Day, while the number of new … Continue reading “Road to Recovery: COVID-19 Case Update”

Mar 30, 2020

The big equity bounce has continued, with the S&P 500 Index up more than 17% from the multi-year lows hit last Monday. The big question on many investors’ minds is could this be a bear market rally? After all, some of the most spectacular short-term bounces took place during bear markets.

Mar 27, 2020

Market gives up some gains into the weekend. Following the historic run over the past three days, US equities are lower in early trading Friday. The United States now has more confirmed cases of COVID-19 than China, though far fewer deaths. The stimulus package is expected to pass through the House of Representatives today before … Continue reading “Market Update: Friday March 27, 2020”

Insights + Resources >