WOW – August already! Where has the summer gone? I can't believe that it is time for school and college to get cranked up again in a matter of weeks. I personally have two going back to college this year. They are both attending Baylor, as I did, and it is great to be able
Long-term Care Planning
June 15, 2017 By
In the year 2000, almost 10 million people needed some form of long-term care in the United States. Of that number, 3.6 million (37%) were under age 65 and 6 million (63%) were over age 65*. What does that really mean? This trend means that almost 70% of people turning age 65 will need long-term
Beneficiaries
May 15, 2017 By
I’m sure most of you are glad the tax filing deadline has come and gone, although I suspect there are plenty of you that have postponed the inevitable with an extension. Either way, just getting through the April deadline seems to remove much of the anxiety surrounding taxes in general and can allow us to
Roth 401k vs Traditional 401k, Which is Best?
August 15, 2016 By
Recently, there has been renewed discussion about whether employee investors should make traditional pre-tax contributions into their employer-provided 401k plan or take advantage of the Roth 401k option. Over the past several years, many employers have added a Roth 401k option to their retirement plan offering, which is the basis for the increased discussion. What
Tax Free? Does it Really Exist?
July 28, 2016 By
Most People Confuse Tax Deferred (will be taxed at some point) with Tax Free (will never be taxed) When most investors hear “tax free income”, they immediately think about investing in municipal bonds which are free from federal income taxation. There are many financial calculators for the tax free equivalent yield when investing in municipal
Tax Free? Does it Really Exist?
May 15, 2016 By
Most People Confuse Tax Deferred (will be taxed at some point) with Tax Free (will never be taxed) When most investors hear “tax free income”, they immediately think about investing in municipal bonds which are free from federal income taxation. There are many financial calculators for the tax free equivalent yield when investing in municipal
Planning for the Inevitable
March 15, 2016 By
This month we’d like to hit on a topic that most of us avoid because it can be hard to talk about. That topic is death, and more specifically, planning our own funeral, memorial service, and burial or cremation. On a personal note, I’ve been through this process in just the last two months with
Annuities 101
August 15, 2015 By
Most of you have already made it over this education hurdle and have turned to planning for funding sources for retirement instead. That’s one of the reason we’re constantly working with clients to determine reasonable distribution rates during retirement. And ways to provide monthly income utilizing investment portfolios or pensions, along with the timing of
ESTATE PLANNING—Part 3 DOCUMENT SUITE
June 4, 2015 By
This article is the final installment in a three-part series on estate planning. In part one, we touched on the basics of estate planning – why we all need to put an estate plan in place. We also discussed the attributes of the will and the trust, the two most foundational documents in an estate plan. In part two, we walked through the history of estate and gift taxes from antiquity to present day. Taxes due at death were often used to raise revenue to pay down debt from one-time expenses like wars, but over time they became more ingrained in the tax code. Simply put, governments recognized the inevitable death of each of its citizens as a regular and predictable opportunity to tax the transfer of property from the decedent to his or her beneficiaries.
ESTATE PLANNING—Part 2 TAXES
May 4, 2015 By
Last month’s Captain’s Table piece, was the first installment in a three-part series on estate planning. Estate planning is the “most overlooked, misunderstood and procrastinated piece” of the financial plan for most families, when it really shouldn’t be. Putting together a good estate plan is relatively straight-forward, especially with the help of an experienced attorney, and is not as costly, complex or time-consuming as you might think.
In Part one, we discussed the will and the trust. We discussed why the will is the foundation of any estate plan and how a trust can be a flexible, efficient and an inexpensive tool that complements the will, and can also helps keep matters private and outside of the public record. In this installment, we’ll focus on the history of the estate and gift tax system and how present laws impact bequests made while living and at death.
