Benjamin Franklin is credited with saying, “In this world nothing can be said to be certain, except death and taxes.” Despite the certainty of death, many put off estate planning. Death and finances are two of the most uncomfortable subjects, they are both emotionally charged, and nobody wants to talk about either one of them. One of the hardest decisions people make in the estate planning process is how much (and when) to tell their children about their plan. It is no surprise that most people … [Read more...] about The Importance of Talking To Your Family About Your Final Wishes
To all the veterans out there… we salute you! Thank you for your service and sacrifice!
Today, and every day, Sandoval Legacy Group, a division of Holstrom, Block & Parke, is proud to support, and honor veterans. In celebration of Veterans Day and Armistice Day, we honor all who serve. Every year, Veterans Day falls on November 11th – Armistice Day. Armistice Day (officially changed to Veterans Day by President Eisenhower in 1954) marked the end of World War I, but now it serves to honor all service men and women from many countries around the … [Read more...] about To all the veterans out there… we salute you! Thank you for your service and sacrifice!
Living Trusts: What Are They?
A living trust, set up during your lifetime, is designed to allow for easy transfer of your assets. A trustee holds legal possession of the assets and property in your trust and has a fiduciary duty to manage the trust prudently for the trust's beneficiaries. Most significantly, it provides for an easy mechanism to facilitate the management of your asset if you become incapacitated, to designate what you want to occur upon your passing, and tp avoid the costs and delays of a probate … [Read more...] about Living Trusts: What Are They?
7 Steps To Prepare for Retirement
If the pandemic proved anything, it's that life tends to get in the way of our plans — including retirement plans. Over the course of the pandemic, many people were forced to retire early, others decided they wanted to retire and still others opted to change their planned retirement date. The number of people affected is high; a recent survey found that more than 80% of Americans say their retirement plans were impacted by the pandemic. While you may not be able to control when you … [Read more...] about 7 Steps To Prepare for Retirement
Child Care and Dependent Tax Credits for 2021
Who Qualifies? The Child and Dependent Care Tax Credit is available to parents and caregivers who are either working or looking for work and who claim dependents on their tax return. In addition, the credit is available to those who care for children under age 13 or a spouse or dependent of any age who is physically or mentally incapable of caring for themself. The CTC was created in 1997 and has been expanded several times since, most recently in 2020. The COVID-19 pandemic … [Read more...] about Child Care and Dependent Tax Credits for 2021
Estate Planning With Big Age Gaps
Are you in an age-gap relationship? Five percent of first marriages and 20% of second marriages need a special focus on making both of your needs work. Financial matters for large age-gap retirement planning include retirement funding, Social Security planning, and health care costs. Retirement Planning Imagine a scenario in which the older spouse is ready to retire, while the younger spouse is hitting her/his stride and doesn't want to slow down. How should … [Read more...] about Estate Planning With Big Age Gaps
Should You Go with a Medicare Broker?
How can you be sure that an insurance salesman is being honest with you? Talk to a broker instead of a corporate representative. Because Medicare brokers work for many different insurance companies, they can try to find the right fit for you rather than pushing one carrier. Your Medicare broker will be able to review all options available and search for a plan that most closely fits your individual needs and budget. What Is A Medicare Broker? Medicare brokers, also known as … [Read more...] about Should You Go with a Medicare Broker?
Increased Estate and Income Taxes May Hit The Wealthy Hard Later This Year
Congress and the President have tax proposals on the table that could dramatically affect the pocketbooks of some of our clients. If you have a net worth of more than $5 million or are earning more than $400,000 per year, you should download the informative information we have available for you. CLICK HERE To Learn More About The 2021 Potential Tax Law Changes. During his campaign for President, Joe Biden promised to increase the amount of estate taxes that are currently paid and to … [Read more...] about Increased Estate and Income Taxes May Hit The Wealthy Hard Later This Year
This Father’s Day…
Give Your Children Guidance and Peace of Mind. As a dad, your primary goal in life is to love and protect your children. You work hard to provide and support your family. You attend your children’s sporting events, save money for their college education, help them with their homework, do everything you can so they will have a safe and healthy future. Everything you do for your kids is an investment in their future, but have you made a complete plan to protect them? There is no greater gift … [Read more...] about This Father’s Day…
Common Mistakes When Creating a Will
For most people, a Last Will and Testament serve as the foundation upon which their comprehensive estate plan is built. Giving the importance of your Will, it should be error-free, particularly in light of the fact that any errors or problems with your Will won’t be uncovered until after you are gone, meaning it will be too late for you to fix errors or explain ambiguities. With that in mind, it may help to learn more about some of the most common mistakes people make when creating a Will so … [Read more...] about Common Mistakes When Creating a Will