As an independent trust company, Garden State Trust Company, is focused on a singlebusiness and is staffed with experienced professionals who are dedicated to building and sustaining a close, personal relationship with their clients, their family members, and their professional advisors. Continue reading “Personal Service Makes All the Difference: Why Retirees Choose Us”
Last week we Blogged about an elderly woman that was taken advantage of by a visiting niece and nephew. These wonderful “caring” relatives decided that they would remove some of her antiques and furnishings from her home while she looked on in disbelief.
Unfortunately these are not isolated situations. If you are part of the sandwich generation that is busy raising your family while being responsible for caring for an elderly relative you should really consider speaking with them about the benefits of establishing a living trust with an independent trust company in order to protect their interests. Continue reading “Why Your Loved One Should Consider a Living Trust”
We consistently counsel our clients about the importance of diversification when we structure a portfolio in an attempt to lessen market risk. Market risk is the risk that the value of an investment will decrease due to market factors.
It goes without saying that if the stock or bond market declines, your stock or bond holdings will typically lose value, too. One way to reduce market risk is to diversify your investments. Continue reading “How Important Is Diversifying Your Investments?”
Multiple contributions. If you make multiple contributions of less than $250 to the same charity during the year, you generally should treat each contribution separately in determining the amount of the contribution and the supporting records you should have.
Donations of clothing and household items. To be deductible, these donations must be in “good used” condition or better unless you are claiming a deduction of over $500 and include a qualified appraisal of the item with your return. If you can’t get a receipt from the charity because you left items at a charity’s unattended drop site, note the charity’s name, the contribution date, and a description of the items you donated and keep it on file. Also note the donated items’ fair market values and how you determined the values. Continue reading “Taxes: Keeping Track of Your Donations”
More and more we read and hear about the “Sandwich Generation”. Many of you are asking what is this so-called “Sandwich Generation”? No, it’s not the generation that grew up carrying PB & J sandwiches to school in their lunchbox.
Sandwich Generation is a term used to identify those individuals who are sandwiched between raising children and having to care for a beloved elderly family member who may require physical, emotional or financial support. Not only is this individual sandwiched between generations but also has a job that requires their undivided attention. As you can imagine time constraints plus separation by distance to this elderly relative equals a recipe for a tremendously stressful situation. You can only do so much!
This month we proudly launched a TV commercial focusing on the sandwich generation and our services featuring our new spokesperson, Rich Gannon former NFL Quarterback and Most Valuable Player.
Before we began the actual filming of the commercial in Philadelphia I took the opportunity to chat with Rich about Garden State Trust Company and our team. Almost immediately our conversation focused on how we personally know people sandwiched between caring for different generations and the strain they are under.
Rich also wanted to know more about our trust, investment and estate services. I shared with him how our trust services have provided peace of mind for our clients and their immediate families. Because, even separated by distance they have the Garden State Trust Company team to “lean on” for their financial needs as well as lifestyle planning.
Please access our new Television Commercial featuring former NFL Quarterback and MVP, Rich Gannon by clicking here.
With best wishes,
Oftentimes people, for whatever reason, decide that they will plan their estates based upon what they hear from a neighbor, read in a newspaper or see on television. In our years of helping people properly plan their estates, we have encountered disastrous examples of “do-it-yourself” estate planning as well as Will drafting. Fortunately many of these disastrous plans were remedied before they went into effect. Unfortunately, other times the individual died and the plan was cast in concrete. Let me share one example from years ago of good intentions by a “do-it-yourselfer” that went awry. Continue reading “Wills: Don’t DIY”
An article in the Wall Street Journal states the importance of building an Estate Plan for those with special needs. The Valentine family’s 14-year-old son Gabe has epilepsy and Asperger’s, and so the family created a Special Needs Trust to ensure that he is taken care of when they are no longer able. Due to the need of many parents to care for their special needs children, a growing number of financial services companies are designating themselves as “special needs planners” and helping families find ways to provide for their children. Continue reading “Estate Plans for Special Needs”
Your net worth is the value of all of your assets, less the total of all of your liabilities. Continue reading “What is Net Worth? How Do I Calculate it?”
1. Locate the will of the decedent and arrange for probate. Does your named executor know where you keep your Will and other valuable papers? Continue reading “7 Steps to Choosing the Right Estate Executor”