Digital Assets Estate Strategy
Jan 20, 2021
When you think about your estate, you may think about your personal property, real estate, or investments. You also have other, less-tangible assets – and they deserve your attention as well. We consider these your digital assets. A digital footprint of your life – and you need to consider them within your estate planning. (more…)
Tags: Certified Financial Planner Charlotte NC, Estate Planning, Family Wealth, financial advisor charlotte nc, Financial Planning
Estate Planning Checklist for When a Spouse or Parent Passes
Jan 15, 2021
When you lose a spouse, partner, or parent, the grief can be overwhelming. In the midst of that grief, life goes on. There are arrangements to be made, things to be taken care of – and in recognition of this reality, here is a checklist that you may find useful at such a time. If not, estate planning is an important aspect of one’s overall financial picture. It plans for what comes next.
First, gather documents. Ask for help from other family members if you need it. Start by gathering the following. (more…)
Tags: Certified Financial Planner Charlotte NC, Estate Planning, financial advisor charlotte nc, Personal Finance
A Windfall Inheritance Comes Your Way
Nov 16, 2020
Here’s a windfall scenario for you: You pick up what appears to be a lottery ticket. You check the numbers for a laugh and discover a winning combination, offering you millions of dollars in prize money. What are the chances of that? (more…)
Tags: Certified Financial Planner Charlotte NC, Estate Planning, Family Wealth, financial advisor, Financial Planning, Income Planning, Investing, Investment Planning, Investment Portfolio, Investments, Personal Finance, Spending Habits, Wealth Building
Estate Planning Strategies for Year-End
Oct 12, 2020
With one year ending and a new one on the cusp of starting, many people will consider their resolutions—not their estate planning strategy. But the end of the year is a great time to sit down and review your preparations, especially when you’re spending more time with your loved ones; even more important if you have a complicated estate that may need to get managed after you’re gone. (more…)
Tags: Certified Financial Planner Charlotte NC, charlotte NC, Estate Planning, Financial Planning, Personal Finance
Tax & Estate Strategies Update for Married LGBTQ Couples
Sep 16, 2020
The 2015 Obergefell v. Hodges Supreme Court decision streamlined tax and estate strategizing for married LGBTQ+ couples. If you are filing a joint tax return for this year or thinking about updating estate strategies, here are some important things to remember. (more…)
Tags: Estate Planning, Tax Advantages, Tax Deductions, tax guide, Tax Planning
A Corporate Trustee Could Be a Smart Choice
Aug 12, 2020
In an ideal world, managing a family trust would be simple. There would be no stress, no big learning curve, and no great time commitment involved. Unfortunately, the world is not ideal, and heirs who become trustees are often left with headaches. A corporate trustee may be a good option. (more…)
Tags: Certified Financial Planner Charlotte NC, Estate Planning, Family Wealth, financial advisor charlotte nc, Investment Planning, Personal Finance, taxes
Charitable Lead Trusts
Jun 24, 2020
Are you concerned about the inheritance taxes your heirs may have to pay? Then you may want to consider creating charitable lead trusts. (more…)
Tags: Estate Planning, Family Wealth, Financial Planning, Legacy, Wealth Building
Explaining the Basis of Inherited Real Estate
Jun 22, 2020
At some point in our lives, we may inherit a home or another form of real property. In such instances, we need to understand some of the jargon involving inherited real estate. What does “cost basis” mean? What is a “step-up?” What is the home sale tax exclusion, and what kind of tax break does it offer? (more…)
Tags: Estate Planning, Family Wealth, Tax Advantages, taxes, Wealth Building
SECURE ACT Lesser Known Provisions
Feb 20, 2020
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: Education Planning, Estate Planning, Investment Planning, Legacy, Personal Finance, Retirement Planning, Secure Act
Ways to Fund Special Needs Trusts
Jan 27, 2020
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?
Tags: Estate Planning, Health Care Needs, Legacy
More Insights
Jan 27, 2021
The 10-year Treasury yield has climbed higher since the New Year, which means that some bond prices are dropping. You may have seen the headlines that say, “10-Year Yields Over 1%.” For some, the first time they experience a change in bond prices is when they open their monthly statement and review their investments.
Jan 25, 2021
Recently, the Internal Revenue Service (I.R.S.) announced that tax season will start a little later than usual. This year the I.R.S. will begin accepting and processing 2020 tax filing returns on Friday, February 12, 2021.1
Jan 22, 2021
What is a 1099 form? This is a record of payment from an individual or entity, showing a payment, generated for your records. The individual/entity sends a copy to both the payee as well as the I.R.S.1 Who might be sending 1099s? Clients send their contractors 1099s, recording work performed. Banks send 1099s to reflect … Continue reading “1099 Form Help”
Jan 20, 2021
When you think about your estate, you may think about your personal property, real estate, or investments. You also have other, less-tangible assets – and they deserve your attention as well. We consider these your digital assets. A digital footprint of your life – and you need to consider them within your estate planning.
Jan 18, 2021
Pursuing your retirement dreams is challenging enough without making some common, and very avoidable, mistakes. Here are eight big mistakes to steer clear of, if possible. No Strategy. Yes, the biggest mistake is having no strategy at all. Without a strategy, you may have no goals, leaving you no way of knowing how you’ll get … Continue reading “Eight Retirement Mistakes to Avoid”
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