Do You Have a Pet Trust?

Wills are administered by the courts and do not take effect until validated by the court. If contested, wills do not take effect until the disputes are resolved. If your will contains a testamentary pet trust, the care of your pets could be postponed until the will is validated and the disputes are resolved by [...]

April 24th, 2018|Uncategorized|

What Should You Do When Debts Survive Death?

Dealing with a death in the family is already tragic and stressful. Adding debt into the equation can make things even more stressful. If the debt in question was a credit card debt, the debt is expected to be repaid by the debt owner whether they are alive or dead. Who owes that obligation after [...]

March 20th, 2018|Newsletter|

Home Mortgage Interest Deductions Are About to Change

For years now, taxpayers have had the opportunity to deduct their primary home and second home mortgage interest from their taxes as an itemized deduction. This mortgage interest deduction had an upper limit of $1 million of acquisition debt and $100,000 of equity debt. How has the 2018 tax bill changed things? Up Until Now [...]

February 28th, 2018|Newsletter|

2017 Tax Cuts Act: Impact on Families

The Tax Cuts and Jobs Act makes sweeping tax changes that impact virtually all taxpayers. For individual taxpayers and their families, changes include a decrease in the tax rates, repeal of the personal exemption, increase in the standard deduction, modification to itemized deductions and doubling of the child tax credit. Under the Tax Cuts and [...]

January 22nd, 2018|Newsletter|

Collecting Social Security While Working

You can collect Social Security benefits while working at the same time, but there are numerous restrictions that you need to be aware of before making the decision. There are several factors that determine your eligibility to collect Social Security and work at the same time. How Old Are You? The current retirement age for [...]

December 13th, 2017|Newsletter|

2018 Policy Changes that Could Affect Your Retirement

Many policy changes over the course of the past few months will have a significant effect on your 2018 financial outlook, from 401(k)s to Social Security. Here are some of the changes you need to be prepared for as you plan and save for your retirement. A New Ceiling for Social Security While the 7.65% [...]

November 30th, 2017|Newsletter|

How to settle the debts of a deceased loved one

Are you responsible for the debts of your loved ones when they die? Losing a loved one is always difficult enough but when he or she leaves behind a mountain of debt it can overwhelming. When a person dies, his or her debts do not go away. Instead, all assets and debts are considered part [...]

October 26th, 2017|Newsletter|

Roth or Traditional IRA

You know you need to save for retirement but choosing between a Traditional IRA and a Roth IRA can be confusing. Neither option is a perfect solution for every investor. Deciding which one is right for you depends on your age, income, assets and personal preferences. Ultimately, you need to determine if it is financially [...]

September 25th, 2017|Newsletter|

Calculating Capital Gains Tax: The Basics of Basis

You might be surprised to learn that the capital gains tax does not only apply to profits from the sale of stocks and bonds or real estate. If you’ve sold a personal asset like a car, a boat or a big screen tv this year, you will most likely owe a capital gains tax on [...]

August 22nd, 2017|Newsletter|

Update Your Homeowner’s Insurance Policy

Many homeowners don’t think of updating their insurance policy as a regularly scheduled home maintenance task. They often purchase a policy when they first buy their home and don’t think about it much after that. But just like cleaning out the gutters and changing the batteries in the smoke detectors, reviewing your homeowner’s insurance policy [...]

July 20th, 2017|Newsletter|