Wealth Planning Commentary – August 4, 2025
What’s Happening to Renewable Energy Incentives? The One Big Beautiful Bill Act (OBBBA) is a sweeping piece of legislation, covering a wide range of tax and incentive changes. One area generating a great deal of attention is the significant shift in federal support for renewable energy. With OBBBA, there’s a clear pivot away from the […]
Wealth Planning Commentary – July 28, 2025
What Families Should Know about the New Trump Account Earlier this month, President Trump signed the One Big Beautiful Bill Act (OBBBA) into law, which included a variety of new child-friendly tax provisions. Among them is a new child savings account called a “Trump Account”. While Trump Accounts may help some families on the margins, […]
One Big Beautiful Bill Act and Its Impact Webinar
Chief Economist Jeanette Garretty and Head of Wealth Planning Mallon FitzPatrick break down the impact of the One Big Beautiful Bill Act (OBBBA) on your financial plan.
Wealth Planning Commentary – July 21, 2025
Tactical Tax Planning: Navigating the OBBBA’s Key Provisions in the Near Term It’s critical to remember that while the OBBBA introduced a plethora of new tax changes, many of its most impactful provisions, particularly those offering significant deductions, are temporary. They are set to expire, predominantly by 2028 or 2029. This limited window underscores the […]
Wealth Planning Commentary – July 14, 2025
Will You Qualify for New Income Tax Deductions? The OBBBA introduces several new above-the-line deductions, which directly reduce adjusted gross income. However, high earners will not be able to claim all of them. Read below to find out if you qualify: From 2025 to 2028, those aged 65 and over can take advantage of a […]
Wealth Planning Commentary – July 7, 2025
The OBBBA Has Landed: First Look at Key Tax Provisions Last week, President Trump signed the “One Big Beautiful Bill” (OBBBA) into law. The new mega bill permanently extends important provisions from the 2017 Tax Cuts and Jobs Act (TCJA), including today’s lower individual income tax rates and higher standard deduction. Notably, the estate and […]
Wealth Planning Commentary – June 30, 2025
Lessons from Jimmy Buffett’s Estate In recent celebrity estate news, Jimmy Buffett’s widow, Jane Buffett, and his accountant, Richard Mozenter, are currently embroiled in a legal battle. They share roles as Co-Trustees of Jimmy Buffett’s marital trust, which houses the bulk of his $275 million estate. Established for Jane’s lifetime benefit, with remaining assets passing […]
Long-Term Care: Planning for the Care You Hope You’ll Never Need
You’ve worked hard, saved wisely, and planned for a fulfilling retirement. But what if the unexpected happens, like early-onset Alzheimer’s or a serious health event that changes your day-to-day life? We’ve heard it often: “It wasn’t supposed to happen this way.” We don’t plan to need long-term care, but we do need to plan how […]
Wealth Planning Commentary – June 23, 2025
Tax Bill Negotiations Heat Up as Senate Releases Draft The Senate has officially released its draft of the sweeping tax and budget bill, setting the stage for negotiations with the House. While the House passed its version last month, the two chambers must reconcile key differences before any legislation reaches the president’s desk. This latest […]
Wealth Planning Commentary – June 16, 2025
Don’t Just Sign Trust Documents, Retitle Even the most thoughtfully designed estate plans can fail when trusts aren’t funded—a common and avoidable oversight. Often, someone works with an attorney to establish a revocable trust. Yet afterward, all or a portion of their assets remain titled in their individual or joint name rather than in the […]
After the Disaster: An Expert’s Guide to Deciding Whether to Rebuild or Relocate
As published in Kiplinger A home is more than an asset — it’s where milestones are celebrated, memories are made, and a sense of stability is anchored. The emotional and financial impact can be profound when a natural disaster strikes. And once the immediate damage is assessed, a more complex question emerges: Should we rebuild […]
Wealth Planning Commentary – June 9, 2025
Demystifying Proposed Social Security Tax Relief A provision in the ‘Big Beautiful Bill’ that many associate with tax-free Social Security benefits is in the news cycle and confusing taxpayers. The proposed legislation, currently under revision in the Senate, does NOT mention tax-free Social Security. However, it does include an adjustment to a long-standing senior deduction. The […]