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Financial Planning

4 Savings Strategies for Recent College Grads By Brendan T. Hayes

Posted May 20, 2025

As college graduates embark on their professional careers, they should consider the following savings strategies to help prepare them for a sound financial future. Like most things in life, the earlier you start planning and preparing, the more likely you will achieve your goals. Employer-Sponsored Savings Plans While retirement may seem like a long way […]

Weighing the Conveniences, Risks of Using Payment Apps by Kathleen G. Marteney, CRPC

Posted May 13, 2025

Peer-to-peer mobile payment processing apps, such as Cash App, PayPal and Venmo, have made it easy for people to send and receive money with the click of a button. However, whether you are a business accepting these forms of payments or a consumer paying for products and services or splitting a shared expense with a […]

Does My Electric Vehicle Qualify for a Tax Credit? By Scott Montgomery, CLU, ChFC

Posted April 1, 2025

If you purchase a qualifying new or previously owned plug-in or hybrid electric vehicle (EV) or fuel cell electric vehicle (FCV) this year, you may qualify for a tax credit. Generally, the credits are nonrefundable, meaning they can only reduce your tax liability to zero; you cannot get back more on the credit than you […]

Widows, Widowers Have an Easier Time Electing Portability of Deceased Spouses’ Unused Estate Tax Exemptions By Scott Montgomery, CLU, ChFC

Posted March 26, 2025

Widows and widowers who missed the deadline to claim a deceased spouse’s unused estate and lifetime gift tax exemptions as their own have up to five years to make this portability election and shield more of their wealth from future tax liabilities. Understanding Portability U.S. tax laws provide individuals with a federal lifetime gift and […]

4 Strategies to Apply During Life to Reduce Estate Taxes After Death By Eric P. Zeitlin

Posted March 18, 2025

Ultra-high-net-worth individuals with estates valued above the $13.99 million estate-tax lifetime-exclusion amount in 2025 (or $27.98 million for married couples filing joint tax returns) have several opportunities to reduce their estate tax liabilities at death while preserving wealth for future generations while they are alive. Give Multiple Gifts During Life. Making annual exclusion gifts enables […]

Trusts Still Have time to Reduce their Taxes for 2024 By Scott Montgomery, CLU, ChFC

Posted February 12, 2025

With 2025 well underway, certain calendar-year trusts and estates still have a small window of opportunity to reduce their 2024 income tax liabilities and those of the trusts’ beneficiaries provided they act before March 6, 2025. Under a special IRS rule, trustees have 65 days after the start of a new year to distribute trust […]

Maintaining the Power of your Power of Attorney By Brendan T. Hayes

Posted January 30, 2025

A power of attorney is a legal document in which you grant to someone else the authority to oversee your financial affairs and make prudent decisions on your behalf if and when you are unable to do so on your own.  Those decisions could be as mundane as paying household bills during a temporary period […]

A Fair Inheritance is in the Eye of the Beholder By Lee F. Hediger

Posted January 22, 2025

Leaving behind a lasting legacy and providing for surviving family members in the event of an individual’s death or disability takes time, patience and consideration of a broad range of non-financial issues. While there are times when an unequal division of property among heirs is preferable, consideration should be given how surviving family members will […]

Age is More than A Number When Planning for Retirement By Sean Deviney, CFP®*

Posted January 14, 2025

After years of diligent saving, you probably built a significant nest egg to afford a comfortable retirement, but that doesn’t mean you’re ready to put your feet up and coast through your golden years. Preparing for retirement requires having a plan in place to address your spending habits, rising healthcare costs, changing tax laws and […]

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