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Financial Planning

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Estate Planning

IRS Announces Higher 2019 Estate and Gift Tax Limits

The IRS has announced that in 2019, the estate and gift tax exemption will be increased to $11.4 million per individual, up from $11.18 million in 2018. This means that an individual can leave $11.4 million to heirs and pay no federal estate or gift tax and a married couple will be able to leave up to $22.8 million. While the federal exemption amount is considerably high, there are some states that have lower state estate and gift tax exemption amounts.

Posted By Alyssa Yocom
January 15, 2019
Financial Planning

Social Security Benefits Increasing in 2019

Each year, the Social Security Administration announces the annual cost-of-living adjustment (COLA). In October, they announced that Social Security and Supplemental Security Income (SSI) benefits will increase by 2.8% in 2019.

Posted By Alyssa Yocom
November 7, 2018
Financial Planning

Earthquake Insurance

The decision to carry earthquake insurance is purely personal and, oftentimes, is not an easy choice. Earthquake insurance is generally not included in your homeowners insurance policy, so it should be purchased as a separate policy or as an endorsement to your homeowners policy.

Posted By Alyssa Yocom
August 21, 2018
Estate Planning

Duties of a Successor Trustee

While some consider becoming a successor trustee a great honor, it is also a great fiduciary responsibility. As successor trustee, it is your duty to ensure that the trust estate is handled according to the trust document and the trustor’s wishes. When a loved one passes away, there are many tasks to be done and things to consider. Below is a list of some actions the successor trustee should consider.

Posted By Alyssa Yocom
August 16, 2018
Financial Planning

Health Savings Accounts (HSAs)

A Health Savings Account (HSA) is a tax-advantaged medical savings account available to individuals who are enrolled in high-deductible health plans. HSAs have three main tax advantages.

Posted By Alyssa Yocom
June 6, 2018
Financial Planning

Understanding Your Credit Score

Your credit score is used in many aspects of your life. Lenders and creditors often run your credit report and use your score to determine what kind of loans or credit to offer you. Additionally, some employers request to see your credit score as part of their hiring process. Your credit score is determined from your individual credit report, and there are five categories taken into consideration.

Posted By Alyssa Yocom
April 30, 2018