As we step back and reflect on 2020 and the heartbreak of the coronavirus, there are some lessons that we can learn. As a country, we were ill-prepared to face a medical crisis of this magnitude. At times it has seemed like a...
The Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed on March 27, 2020. This is an extensive piece of legislation that will have an impact on many Americans in one way or another and hopefully offer some financial help to those struggling during...
Selecting the correct business structure is a critical step in starting a new business, managing risk in your current business, or planning for future growth or transfer of a business. Because we work with a lot of small business owners, structure selection is a very...
Spousal IRAs allow married couples in which one spouse works and one does not to make IRA contributions to the account of the non-working spouse. Typically, in order to contribute to an IRA, you need to have earned income. Spousal contributions create a way around...
As part of a year-end spending bill that was passed by the House and Senate and signed into law by the President on 12/20/19, the Setting Every Community Up for Retirement Enhancement (SECURE) Act made some dramatic changes to retirement planning. Although we have...
Not sure about the optimal time to file for your Social Security benefits? You are not alone. We regularly get questions from our retired and pre-retired clients about the best time to file for benefits. Surprisingly, there is not one standard answer....
It’s often said that bull markets “climb a wall of worry.” This phrase refers to a market’s ability to continue to grind higher despite economic or geopolitical issues that would intuitively tamp it down. The S&P 500’s 31.5% total return in 2019 is a poster...
The Setting Every Community Up for Retirement (“SECURE”) Act was passed by the House over the summer and seemed to stall in the Senate until mid-December when it got attached to an end of the year spending bill. The SECURE Act is a significant piece...
When beginning a planning engagement, the first thing we evaluate is the adequacy of the client’s emergency fund. The reason is simple- without an adequate emergency fund, you are taking on more financial risk than necessary. Furthermore, at some point, everyone needs to use their...
As our population ages, we continue to see a higher incidence of reduced cognitive ability. As fiduciaries, we are sensitive to this issue and look for red flags if we suspect diminished capacity or exploitation, particularly with regard to our senior clients. To...