When Do Living Trusts Make Sense?

Posted by Ronald J. FicheraApr 12, 20220 Comments

A trust can solve a lot of problems. But like all tools, it can also be misused. If you're putting together an estate plan, you have no doubt heard about the benefits of a living trust. Assets placed in a trust won't go through probate, a time-consuming and potentially cost...

What Assets Should Be Included in Your Trust?

Posted by Ronald J. FicheraMar 07, 20220 Comments

A revocable living trust is a great tool to help your assets pass smoothly to your beneficiaries, and it can significantly reduce the headaches of probate. However, while some assets belong in a trust, others cannot (or should not) go into one. One of the largest financial planning misconcepti...

A Plan for Your Furry Loved One After You're Gone

Posted by Ronald J. FicheraMar 06, 20220 Comments

An owner's illness or death is a common reason for a pet being given up. However, here are some steps you can take to ensure your beloved companion is cared for if something happens to you. Pets are cherished family members, but it's the rare owner who considers what will happen to a four-legg...

2021 Wills and Estate Planning Study

Posted by Ronald J. FicheraMar 05, 20220 Comments

What You Should Know: The number of young adults with a will increased by 63% since 2020. In 2021, 18-34 year-olds are, for the first time, more likely to have a will than 35 – 54 year-olds.  Despite COVID-19, the overall percentage of Americans with a will has not significantly changed. ...

13 Financial Moves to Make After Losing a Spouse

Posted by Ronald J. FicheraMar 05, 20220 Comments

Nothing upends your world like the death of a spouse, leaving you at a loss for what to do next. Nothing upends your world like the death of a spouse, leaving you at a loss for what to do next. When death comes before you realize your retirement plans, it can be particularly devastating. Of t...

The Financial Effects of Losing a Spouse

Posted by Ronald J. FicheraMar 04, 20220 Comments

Even amid grief, it's important to reassess your finances. With the loss of your spouse's income, you may find yourself in a lower tax bracket or that you qualify for new deductions or credits. The death of a spouse is one of the most difficult things imaginable. Besides the emotional toll, su...

What to Do When a Family Member Needs a Guardian

Posted by Ronald J. FicheraFeb 24, 20220 Comments

Seeking a guardianship for a loved one is a decision that shouldn't be taken lightly. Here's how the process works. Gerald Teaster spent five years as his mother's legal guardian trying to balance her need for independence with his responsibility to protect her. There was the time that she tri...

Family-Owned Businesses - Inc.

Posted by Ronald J. FicheraFeb 17, 20220 Comments

A family-owned business may be defined as any business in which two or more family members are involved and the majority of ownership or control lies within a family. Family-owned businesses may be the oldest form of business organization. Farms were an early form of family business in which wh...

An Encouraging To-Do List For Getting Organized

Posted by Ronald J. FicheraFeb 15, 20220 Comments

Resolutions that can actually last a lifetime. The problem with resolutions is that they're often hopes and wishes geared toward fixing things we want to change but never seem to have the time to: Lose weight Quit bad habits Stay in touch with people better Be more adventurous It can ...

IT'S THAT TIME OF YEAR AGAIN... TAX TIME.

Posted by Ronald J. FicheraFeb 15, 20220 Comments

1. Get organized If you don't already have all your tax-related information together in one place, start gathering that information now. Information that's missing at the last minute can take up extra time and be costly. A great resource to make sure you have all items needed for taxes, is the...

IRS Tax Tip 2021-170, November 17, 2021

Posted by Ronald J. FicheraFeb 15, 20220 Comments

Next year taxpayers can put an extra $1,000 into their 401(k) plans. The IRS recently announced that the 2022 contribution limit for 401(k) plans will increase to $20,500. The agency also announced cost‑of‑living adjustments that may affect pension plan and other retirement-related savings next...

Senior Driving Courses & Resources

Posted by Ronald J. FicheraFeb 08, 20220 Comments

Senior Driving Courses & Resources provides a guide to help seniors find defensive driving courses to help them obtain insurance discounts and improve their driving skills. It also offers additional tips and resources for keeping seniors safe behind the wheel.

Estate Planning With A Terminal Illness

Posted by Ronald J. FicheraAug 16, 20210 Comments

Finding your way when you or a loved one faces a terminal cancer diagnosis can be overwhelming. While the last thing you might feel like thinking about is money, establishing your financial footing can provide peace of mind. Here is advice for arranging to cover the costs that come with this ch...

Taxation of Residence in an Irrevocable Trust

Posted by Ronald J. FicheraFeb 17, 20200 Comments

Estate of Mary Van Riper v. Director, Division of Taxation Walter and Mary Van Riper transferred ownership of their marital home to a single irrevocable trust. Walter passed away shortly after transfer of the property to the trust. Six years later, after Mary passed away, the trustee distribute...

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