Tax & Estate Strategies for Married LGBTQ+ Couples

July 9, 2021By Phil Clark, CPWA®,CFP®

In this age of marriage equality, there are new possibilities. 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 are considering updating your estate strategy, here are some important things to remember. Keep in mind, … Read More

A Living Trust Primer

March 29, 2021By Phil Clark, CPWA®,CFP®

A living trust is a popular consideration in many estate strategy conversations, but its appropriateness will depend upon your individual needs and objectives. What is a Living Trust? A living trust is created while you are alive and funded with the assets you choose to transfer into it. The trustee (typically, you) has full power … Read More

Understanding the Alternate Valuation Date

February 27, 2021By Phil Clark, CPWA®,CFP®

When an individual dies, the executor is faced with an important decision that has the potential to impact the taxes owed by the estate and its heirs.1 The executor will have the option of valuing the estate on the date of death, or alternately, on the six-month anniversary of death – the latter is, fittingly, referred … Read More

Keep Your Life Insurance When You Retire

August 16, 2019By Bethany W

Some good reasons to retain it. Do you need a life insurance policy in retirement? One school of thought says no. The kids are grown, and the need to financially insulate the household against the loss of a breadwinner has passed. If you are thinking about dropping your coverage for either or both of those … Read More

Explaining the Basis of Inherited Real Estate

July 11, 2019By Bethany W

What is cost basis? Stepped-up basis? How does the home sale tax exclusion work? 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?” … Read More

The Importance of TOD & JTWROS Designations

May 14, 2019By Bethany W

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 … Read More