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The Caldwell Trust Company Blog

Wendy Fishman

Recent Posts

The Cost of Leaving No Will and Why Everyone Needs One

Posted by Wendy Fishman


If you don’t have a will, you’re far from alone. In fact, a 2017 Caring.com study reveals that 60% of Americans don’t have wills for a variety of reasons, including not wanting to think about such a difficult topic, lack of time, no kids, and having a small estate. There are even celebrities who fall into this category, including Prince and Aretha Franklin who recently passed without leaving a will.

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Topics: Trusts & Estate Planning

The Pros and Cons of Robo-Advisors vs. Personal Advice

Posted by Wendy Fishman

If you read the Wall Street Journal or listen to Bloomberg News, you’ve probably heard about robo-advisors. However, you may not know what it is or whether it’s the right service approach for your estate planning and investments.  

Although it sounds like something from a science fiction movie, robo-advisors are quite ‘real’.  They are automated digital investment advisory services – available online and through apps – that provide investment guidance without the intervention of a person, i.e. a human investment advisor.

Emerging in recent years as an alternative to traditional sources of advice, robo-advisors use computer algorithms, or sets of rules, to choose appropriate investments. The choices are based on a person’s risk tolerance, time horizon and other preferences indicated from an initial online questionnaire.

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Topics: In the News, Investments

6 Ways To Mine Tax Breaks Year Round

Posted by Wendy Fishman

When it comes to tax preparation you want to find and use all the appropriate avenues that help you pay out less and keep more of your income.  To do this, it’s important to pay attention to tax planning all year round. Most tax-saving strategies must be implemented no later than December 31 of that tax year, and often well before that.

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Topics: Trusts & Estate Planning

Year-end Planning: What's coming?

Posted by Wendy Fishman

As 2017 draws to a close, it’s time to look to 2018 tax planning. This can be important for knowing how much you want to spend, how much you need to spend, and much more. The GOP recently released the details of its tax reform plan, which is dubbed the Tax Cut and Jobs Act. While it has yet to be passed, it would be wise to start educating yourself on the changes that might take place as well as begin planning with this proposed legislation in the works.

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Topics: In the News

5 Benefits of a Non-Family Member Trustee

Posted by Wendy Fishman

Most of us want a family member looking after our assets when we’re gone. However, there are sometimes complications to this genuinely noble idea. Notably, problems may arise if the family member lacks the knowledge, time, or efficacy to perform his or her duties.

One way to avoid these issues is to assign a non-family member trustee. This neutral party can ensure that your wishes are met, providing your estate with respectful and dignified management while keeping your family and loved ones free from conflict.

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Topics: Trusts & Estate Planning

Hello IRS - Is That Really You?

Posted by Wendy Fishman

Did you know that the IRS does not make phone calls? Over 90,000 Americans have fallen for this scam. Some are even $5 million poorer because they fell for it according to a complaints report by the Treasury Inspector General for Tax Administration’s.

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Topics: Corporate

Keep It or Shred It: How Long to Keep Income Tax Returns Around

Posted by Wendy Fishman

You know you’re supposed to keep your tax records after you submit them, but when is it time to finally shred them? If you’re like most people, you may think that all tax records and receipts need to be kept forever. However, not only is this not the case, but it can also create a paperwork nightmare. Fortunately, these guidelines from the IRS will give you a good idea of when it’s safe to free up some room in your filing cabinet.

Records You Should Keep Indefinitely
  • Paperwork from when you file a fraudulent return. A better option would be to never file a fraudulent return.
  • Paperwork from years you don’t file a return. Unless you have zero income, it is advisable to file a return every year. Even if you don’t make enough money to pay taxes, you are most likely entitled to a refund or credit from the government.
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Topics: Corporate

 


 

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