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 […]
Wealth Planning Commentary – June 2, 2025
Recent Trends in Social Security Claims According to the New York Times, early claims for Social Security benefits have increased by 13% since the beginning of the year. This rise is notable, especially considering the Social Security Trust Fund’s projected depletion timeline remains unchanged. The current surge in early claims appears to stem from heightened […]
Wealth Planning Commentary – May 27, 2025
House Passes Major Tax Bill – Key Provisions to Watch Last week, the House of Representatives passed a significant tax bill, which now heads to the Senate for approval. As this bill navigates the legislative process, remember that its provisions can change before it becomes law. Here’s what you should know about the key proposals […]
Navigating the Markets and Building Wealth Webinar
May 21, 2025 – Managing Director Shawn Wallace hosts Managing Directors Derek Scarth and Josh Freedman and Head of Wealth Planning Mallon FitzPatrick to discuss the markets as well as provide wealth planning tips to help secure your financial future.
Wealth Planning Commentary – May 19, 2025
Legislative Update: Proposed Tax Changes in House Bill The latest version of the House’s proposed legislation, previously known as the “One Big, Beautiful Bill,” remains intact, mainly following negotiations during the past week. Highlighted below are key provisions that may impact and are subject to changes: Individual Tax Cuts If the bill is passed in […]
Wealth Planning Commentary – May 12, 2025
Preliminary Insights into House Tax Bill This weekend, the House of Representatives Ways and Means Committee released an initial draft of its proposed tax legislation. The primary focus of this draft is to address the provisions of the Tax Cuts and Jobs Act (TCJA) that expire at the end of this year. This proposal is […]
Wealth Planning Commentary – May 5, 2025
Congressional Budget and Tax Update The proposed federal budget and its potential implications are currently a focal point in Washington. Ongoing discussions in Congress center on the future of the Tax Cuts and Jobs Act (TCJA), which is set to expire next year unless Congress acts to extend it. Republican lawmakers are considering whether to […]