Are you confused as to what documents to keep in your files? Records relating to tax and legal matters, healthcare issues, assets and liabilities, as well as other important transactions should be kept in case they are needed in the future.
Blog Posts
Making an Investment in Your Life
By Marc C. Shaffer
As a financial advisor, I always have principles of financial investing in the front of my mind, but I love to take those principles and apply them to other areas of life. That might include investing in health, people, experiences, career development or something else, but the principles can translate very well. You set goals, make plans, get started and adjust along the way.
In what ways are you investing in your life? In what ways are you avoiding making investments in your life?
Book Review: Who Not How by Dan Sullivan
By Marc Shaffer
Connections. This book is about connections and their immense value. I tend to think my life is also about connections, which may be why I am so drawn to “Who Not How: The Formula to Achieve Bigger Goals Through Accelerating Teamwork,” by Dan Sullivan with Dr. Benjamin Hardy.
The initial opening of the book is a story about Michael Jordon, who I grew up idolizing as a child as the best basketball player that ever lived. You see, although he was arguably the greatest player, he couldn’t win a championship for his first six years in the NBA.
Filing Final Tax Returns for the Deceased
When a family member passes away, there are many decisions that need to be made and many emotions to handle. The last thing anyone thinks about is taxes.
Unfortunately, even the deceased can’t escape taxation. If the departed family member earned taxable income during the year in which they died, then federal taxes may be owed. An executor or a survivor must, therefore, file a final federal income tax return (Form 1040).
Similarly, if the deceased individual had a sizable estate or assets that might generate income in the future, the estate may owe taxes. Federal estate tax forms pertaining to the decedent’s estate may need to be filed (Form 1041, Form 706).
Prevent a Rift: Money Tips for Newlyweds
Research suggests that 70% of married millennial couples argue about financial decisions more than any other topic. This could explain why some experts say financial problems are one of the top reasons marriages fail.
Fortunately, when couples work together to address their finances, they may be able to mitigate many of the problems money may cause in a marriage.
3 Steps to Updating Your Estate Plan for New Parents
By Marc C. Shaffer
My wife recently gave birth to our first child, a baby boy. Not only was he an infertility miracle in the making (that’s another financial story for another day!), but his birth also created the need for estate planning updates across the board.
Caring.com’s 2021 Wills and Estate Planning Study showed a promising statistic for young parents: In 2021, 18-34 year-olds are, for the first time, more likely to have a will than 35 – 54 year-olds. Bringing a child into the world means you’re responsible not just for keeping them alive and healthy each day, but for setting them up for success in the event that you’re not around to care for them any time in the future, which is where a strong estate plan comes into play. Here are three main steps to help you get started:
In Celebration of the Future
Dear Friends,
Over the years, we have met with you at kitchen tables, living rooms, and multiple offices across the country as you have shared successes, failures, joys and sorrows with us. More recently, we have also connected via conference calls, FaceTime and computer screen-share video meetings. My, how things have evolved over the 46 years Searcy Financial has been in business! We couldn’t have grown into the company we are today without your faith in our ability to listen, problem-solve and provide sound advice for each of your unique situations. We enjoy every opportunity we get to stand Where You Stand®, learn about your lives, and help you plan to make a difference. We do not take our relationships for granted and we never stop striving to improve to honor our commitment to you and your families. Our future is dedicated to you…
5 Questions to Consider When Buying a Vacation Home
If you and your family would like to call your favorite travel destination “home,” you may be considering purchasing a vacation property. This can be an exciting milestone, but there are a few things to consider first.
When You Outlive Your Whole Life Insurance Policy
In most cases, you’re probably hoping to outlive your term life insurance policy. Outliving a policy of this type means you’re still around to experience more life, and hopefully, with less debt and obligations to cover in the future. But, what if you outlive your whole life insurance policy?
Teaching and Reinforcing Pre-Employment Skills for Special Needs Students
By Jessica Searcy Kmetty
My 15-year-old son, Tyler started his first ever job at McDonald’s a couple of weeks ago. It’s been entertaining to hear his anecdotes about how each shift has gone when he comes home. Some of his stories have me thinking about all of the skills he’s been taught that have now become the cornerstone of job readiness for him.
Most of us take pre-employment skills for granted, but for students with disabilities, these skills are often not learned through osmosis, but rather, they have to be explicitly taught.
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