Connections for Success

 

Wealth Management

09.09.19

Spousal Lifetime Access Trust: A Tool for Creditor Protection and Estate Planning
Frank L. Washelesky

Many wealthy professionals are looking for ways to protect assets from potential lawsuits or other unknown creditors without giving up substantial control. Estate tax considerations are also still important as the current large estate tax exemption ($11.4 million for individuals, or $22.8 million for married couples) is set to drop at the end of 2025, […]

08.27.19

Retirement Plan Changes Under the SECURE Act
Frank L. Washelesky

For many people, qualified retirement plans make up a large part of their overall savings.  There are many complex rules surrounding qualified plans and Individual Retirement Accounts (IRAs), but there have not been significant modifications for quite some time. That may all change this year as the House of Representatives has passed the Setting Every […]

08.20.19

How to Make Market Volatility Your Friend
Steven Lewis

Recent market gyrations have made even strong-stomached investors a little queasy. In general, maintaining your positions in a well-diversified portfolio is the best response to such volatility. But there may be something else you can do: Use falling prices as an investment opportunity. Think long term Although overall stock prices have historically risen over time, […]

07.30.19

Eight Tips for Protecting Your Money From Cyberattacks
Peggy Vyborny

More and more banking and financial transactions are conducted online, which means that cyberattacks pose a significant threat to the wealth of many Americans. How can you mitigate this risk? Consider these eight tips. Use Strong, Unique Passwords This may seem obvious, but according to a recent survey, the most common password is “123456.” “Password” […]

07.09.19

A Trust Can Be A Mighty Financial Fortress
Eileen Cozzi

You may think of trusts as estate planning tools. While trusts can certainly fill that role, they are also useful for protecting assets, both now and later. Creditors, former business partners, ex-spouses, “spendthrift” children and taxes can all pose risks. Here is how trusts defend against asset protection challenges. To protect assets, your trust must […]

06.17.19

How to Choose a Guardian for Your Child
Tanya Gierut

Having a child is a very exciting time in one’s life.  There are many new firsts not just with the baby, but with the parents too.  While the baby’s current needs take priority, the parents need to think about the future. What if something happens to you and your spouse? Who will care for your […]

05.24.19

How to Plan for a Tax-Efficient Retirement
Justin L. Sylvan

People today are living longer than ever. These longer life expectancies mean that your retirement savings may have to stretch for more years than you anticipated. Effective tax planning strategies will ensure that your retirement goals are met. Review Your Income Sources The first step is to estimate your cash needs in retirement and evaluate […]

03.12.19

Intrafamily Loans Offer Family Value
Jeffrey R. Green

When children or other family members need financial assistance, it may be tempting to simply hand them a check. But lending, rather than giving, money to your loved ones offers several advantages.

02.26.19

Maximize the Benefit of Nondeductible IRA Contributions
Thomas Kosinski

Many taxpayers choose to contribute to Roth IRA accounts because they provide for tax-free distributions in the future. However, not all people are eligible to contribute to a Roth IRA. If your income is too high, you may want to consider making nondeductible contributions to a traditional IRA.

01.25.19

Making the Most of the New Pass-Through Deduction
David M. Bowman

Many families use pass-through entities such as partnerships, limited liability companies and S corporations for financial, estate or succession-planning purposes. If you own interests in any such entities, it is important to familiarize yourself with the new 20% “pass-through” deduction contained in the Tax Cuts and Jobs Act.

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