Posts Tagged: Wealth Transfer

Stacie Neussendorfer Thumbnail Photo

Since we live in a digital age, it is hard to find an area of our lives that has been left untouched by the changes that have occurred over the last 20 years with the explosion of the internet.  Our ability to carry around smartphones and tablets provides us with immediate access to all things digital. These changes enable us to share our lives with the outside world through social media...

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Matt Abels

While most of the conversation about tax reform has focused on the income tax implications for individuals and businesses, another notable change happened with the estate tax exemption. As part of the Tax Cuts and Jobs Act, the estate tax exemption doubled from $5 million to $10 million for individuals and $10 million to $20 million for married couples with portability. Adjusted for inflation, the exemption for 2018 will be...

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Monte L. Schatz Headshot

By Monte L. Schatz of  Vandenack Weaver LLC

When the topic of estate planning comes to mind, most individuals think about the distribution of their assets at death.  The increased longevity of our population requires equal attention to diminished cognitive skills caused by dementia or other diseases that affect normal cognitive functioning. Dementia is a syndrome in which there is deterioration in memory, thinking, behavior and the ability to perform...

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Phil Kruzan

When people come to Foster Group, it’s typically for one of the following reasons:

  • They’re looking for better investment management.
  • They want expert financial advice.
  • Their situation has become more complex and requires a coordinated approach with other professionals.
The biggest area of coordination is estate planning. Estate Planning is complex legally, financially, AND relationally. The estate planning process provides clarity on WHAT will be received, WHEN it will be received,...

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Rebecca Moore Headshot

By Rebecca A. Moore of Nyemaster Goode

One of the most important considerations in an estate plan is who will take care of your children if something happens to you and your spouse.  If you fail to designate a guardian, the court will be forced to choose one for you.  As you can imagine, this can result in unnecessary family conflict and financial expense.  You can avoid this...

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Scott J. Snyder, JD, CFP®, CFA, CIMA®

“To Live, to Love, to Learn, to Leave a Legacy.” That subtitle of a book by Stephen R. Covey provides insight into our lives. Why is that last part so difficult? People’s eyes light up when they talk about how they want to impact the world, but mention estate planning, which is essentially preparing for the transfer of your “wealth” measured in financial and other terms, and, too often, the...

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Matt Abels

The concept is simple, but often gets overlooked, especially in our profession. As financial planners, we spend a lot of time discussing with clients how to pass assets (what they earned) to the next generation in the most efficient way.  Typically, the goals are to ensure taxes and fees are minimized, assets are passed to the appropriate parties, and the individuals inheriting the wealth are financially mature enough to handle...

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Marcus Iwig

Gift with a tax deduction? In most instances, if you give a gift to a family member, you not only don’t receive a tax break, but you need to be mindful of the amount of the gift in case a gift tax return needs to be filed. Wow.  That sentence just put me to sleep. Let’s try that again. I want to help my kids and/or grandkids prepare to pay for college.  Is a...

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Joe Bantz, CFP®, AIF®

Confession time – I love rock and roll! As a child of the 80’s, there’s nothing like cranking up the radio to Styx, Boston, Joan Jett, or even Loverboy to lift my mood and get my heart racing. Now, as a father of four, I am under pressure to help each sweet child of mine understand how to manage money. So let’s jump into this list of financial truths we...

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Katie Lauer, RP®

If you’re reading this blog, you probably value financial planning. You may have even consulted a financial planner at Foster Group for advice to help protect your wellbeing, your children’s, and possibly your grandchildren’s.  But when you’re gone, and the financial plan you’ve worked diligently to establish and uphold has run its course, will your heirs know how to continue in the way you paved for them? Do you know what...

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