By Dena Fischer
There is no doubt that the loss of a parent is a life event that leaves a lasting gap in the emotional framework of your life. Losing both in a short period of time is a devastating experience, as I can personally attest. I lost both my parents during the pandemic, not as a result of it, they just both had health issues that finally caught up with them.
By Marc Shaffer
A UTMA could be a beneficial choice for your family if you have children or grandchildren. Often, adults open these accounts for minors for future education needs, but they are not strictly for education funding purposes. I have friends who have used their UTMA accounts for a down payment on a home, to fund an overseas adoption, and to open a business. Not only did they provide them with funds, but they were also a learning opportunity. Most of these friends had to manage their accounts from the time they were no longer a minor to the time the funds were used. The account became their responsibility to oversee and manage for their future.
By Marc C. Shaffer
Promptings is a book by Kody Bateman, the founder of a company called SendOutCards. The book’s main premise is to act on impulses as a way to avoid regrets and to create opportunities. So many people have promptings but seldom follow up on them. Some examples of these promptings may be: telling someone you love them, visiting a relative that is sick in the hospital, sending a personal note of gratitude, taking a break, slowing down enough to be thankful. The author founded SendOutCards as a way for many to act on their promptings by making it easy to send greetings cards and gifts to family and friends, building relationships and forging bonds.
By Jessica Searcy Kmetty
Medical coverage is a big deal in the special needs community. Many of my friends and neighbors spend excessive amounts of money on special needs private schools, therapies, and professional evaluations. However, I’ve come across a number of families who are unaware of, or know little about, medical tax deductions.
By John C. Fales
Should we include our children in conversations about inheritance, our net worth and our estate plan?
Should we be gifting assets to our children along the way or should we control the money until it transfers to them upon death?
How do we teach our children and grandchildren to be smart with money?
When an individual or couple has more than enough assets to meet their personal needs, thoughts often turn to how best to provide for and transfer wealth to the next generations.
By John Fales and Marc Shaffer
The concept of a “perfect time” to do things is one that is both not quite realistic yet incredibly understandable. One that is often talked about and pushed off to another, better time is having a baby. Not quite realistic because there will always be something or other standing in your way, yet incredibly understandable because of the myriad tasks that would be helpful to complete before starting a family. There may never be a perfect time to start a family, but no matter where you are in your journey, there are some common considerations for your financial planning.
By Jessica Searcy Kmetty
Experiencing a divorce is rarely something couples expect to face. When I was first married at age 19, I had visions of what it would be like to celebrate my 50th anniversary. I pictured a large party with our friends and family, cakes and grandkids and maybe even great grandkids. I remember sighing a breath of relief at our 8th anniversary because we had made it through the infamous “seven-year itch” with three small children.
But alas, there are two people in every relationship, and despite all efforts, my marriage fell apart and we divorced after 18 years, splitting up assets and spending thousands of dollars in attorney’s fees in the process.
By Jessica Searcy Kmetty
Make Time: How to Focus on What Matters Every Day by Jake Knapp and John Zeratsky is a pretty quick read that is packed with great ideas. It’s all about being intentional and not allowing things you may do by default to hijack your productive time.
The authors provide abundant details, tips and tricks to help you pick and choose what strategies you might utilize in your own life. It also includes a multitude of good ideas we should all probably be doing a better job of: exercise, drink water, watch less TV, get good sleep, etc.
During holiday seasons, you might think about different types of gifts for family members or for your favorite charity. A financial gift is certainly a generous offering, but it may also be something to think about come tax time.
This article is designed to give you an overview of things you may want to consider when making a gift in the here and now, while touching on longer-term tax relevance for both you and the recipient. We’ll also cover some estate considerations for gifts you make now and as part of your future legacy.
By Marc C. Shaffer
Skip the bad days? It sounds like a great concept.
How many of you would choose to skip right over 2020? If only we all had perfect foresight – both in life and with finances.
Here’s one thing we know about investment markets: in election years, years where we experience a pandemic, years that are filled with big news and years that are calm…they fluctuate.
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