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Two people shaking hands in an outdoor setting. Both individuals are shown from the wrist down. The left person, with nails painted purple, is wearing a black sleeve, while the right person is holding a brown bag and some papers related to disability insurance. Flowers are blurred in the background.

Disability Insurance: an Overview

July 1, 2019

When it comes to issues of health-related financial risk, the importance of disability insurance is often sorely underrated.  In reality, holding a less-than-appropriate amount of disability insurance can be just as financially devastating as purchasing the improper amount of life insurance.  However, disability insurance receives much less airtime from the financial media and other “experts”.    What is it? Disability insurance protects against the interruption of income due to illness or injury. Because many employers offer

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Two individuals stand outside, engaged in a discussion. The man on the left wears a striped polo shirt, while the woman on the right, clad in a black top, holds a document. They both examine it attentively; it appears to be related to powers of attorney. The background is lush and green.

Medical and Financial Powers of Attorney

July 1, 2019

Completing estate documents can be a daunting task.  Who will inherit the wealth you worked so hard to accumulate?  Wills are important documents, but don’t overlook other, equally important documents such as medical and financial powers of attorney. While most estate planning seeks to direct what will happen after you pass away, medical and financial powers of attorney enable someone (the agent) to act on your behalf while you are still living. Common scenarios that

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A person's hand is seen writing on a notepad with a blue pen. The notepad has a list of four words: "Ideas," "Information," "Teamwork," and "Results." The person is writing in a well-lit space with a blurred background.

Gifting Appreciated Securities – Optimizing Your Charitable Gifts

July 1, 2019

Most Americans are familiar with the radio and television ads that appeal for donations of unneeded cars, boats, or real estate. Though the process seems quite simple, those who attempt such a donation know it’s not always as straightforward as it seems. Securities, however, can be gifted with relative ease and have significant advantages. The simplest way to donate to charity is to write a check or to drop some bills into a collection basket.

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A family of four sits closely on a couch. The parents smile while their two children, a boy and a girl, laugh and playfully interact. Following their gifting guidelines, the family appears relaxed and happy, enjoying their time together in a cozy indoor setting.

Gifting Within Your Family

July 1, 2019

While gifting within your family can be an effective method for wealth transfer, it’s important to remember that federal tax law regulates your generosity. Specific rules come into play when gift giving, even to those you may be legally required to support (such as a child). To avoid subjecting yourself to unnecessary scrutiny as a taxpayer, or worse paying additional taxes or penalties, read on.   Following gifting guidelines As individuals we are only allowed to

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A graduation cap rests on top of a large pile of U.S. hundred-dollar bills, signifying the cost or value of education and highlighting the importance of educational savings plans.

529 Education Savings Plans – Are they for you? 

July 1, 2019

Education costs continue to rise and the task of saving for college or trade school becomes more daunting each year. Fortunately, there is a village of supporters who want to help a child save for their education, including the ancillary expenses required to have a full and enriching educational experience. One of the most efficient and effective ways to accomplish this savings goal is by using a 529 plan.   State Affiliated plans are open to

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Profiting From an Advisory Relationship – Wealth Management for Medical Professionals

July 1, 2019

“Rely not on the likelihood of the enemy not coming, but on our own readiness to receive him; not on the chance of his not attacking, but rather on the fact that we have made our position unassailable.”  – Sun Tzu, the Art of War The ancient military general, strategist and philosopher Sun Tzu’s words are still worth heeding. Interestingly, they also draw strong parallels to our relationship with money. When it comes to high

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