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.
Tactical Tax Planning Under the OBBBA: Maximize Temporary Deductions Before They Expire
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 […]
New OBBBA Income Tax Deductions: Do You Qualify as a High Earner?
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 […]
One Big Beautiful Bill Act Signed: First Look at Key Tax Provisions for Wealthy Investors
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 […]
Celebrity Estate Planning Lessons: What Jimmy Buffett’s Trust Dispute Teaches Us
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 […]
Senate Tax Bill Draft: How Proposed Changes Could Affect Your Wealth Plan
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 […]
Don’t Forget to Fund Your Trust: Why Retitling Assets Is Critical to Estate Planning
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 a Natural Disaster: How to Decide 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 […]
The Truth About Social Security Tax Relief in the Big Beautiful Bill
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 […]
Early Social Security Claims Surge: Should You Claim Benefits Sooner?
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 […]
House Passes Major Tax Bill: Key Provisions High-Net-Worth Taxpayers Should Monitor
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 […]