Dear Garden State Trust: My parents are retired, living in another state. They have a sizeable investment portfolio and are financially comfortable. However, as they are getting older, they are having trouble keeping up with their paperwork. Last year they were late in making tax payments, very unlike them. I would help them, but I…
Author: gstc
Fiduci-what?
All trust companies, including Garden State, are held to the “fiduciary standard”, but we don’t hold the monopoly on fiduciary services. In May, the Securities and Exchange Commission (SEC) removed the word “fiduciary” from the mandated language registered investment advisors (RIAs) use in their customer relationship summary concluding the word is “legal jargon”. Based on…
Saving for Retirement
Dear Garden State Trust: How much of my salary do I need to save for retirement? —Responsibly Planning Dear Responsibly: The irreverent answer would be “all of it.” All kidding aside, there is no simple answer for everyone. The answer depends upon how many years until retirement, how much income will be required then, what…
Aretha Franklin’s Will Hidden in the Couch Cushions
Last year, many speculated on why Aretha Franklin did not have estate plans in place though she likely knew her end was quickly approaching from pancreatic cancer. The family and her attorney believed there was no will, so the disposition of her complex estate was going to be handled based on the laws of intestacy.…
Stock Market Highs
Dear Garden State Trust: The S&P 500 stock index has reached new highs. Should I consider selling now? —Prosperous But Worried Dear Prosperous: Passing a stock index milestone is not a signal to buy or sell. However, it does focus attention on the market, and it may cause some investors to evaluate their portfolio. There…
Has the Avengers Series Stalled the Endgame for Movie Theatres?
Before seeing the tremendous debut of Avengers: Endgame (earning over $350 million domestically in ticket sales on opening weekend), many wondered if we were in the endgame for movie theatres. Now some are wondering how it was even possible to take in that much, and where the extra capacity came from. Fun trivia about how…
Making Referrals
Dear Garden State Trust: I am a satisfied trust customer. Recently my brother-in-law asked me about who handles my investments, and I was unsure about whether you welcome referrals. I don’t know how much he has to invest—would that matter? Do you want such cold referrals, or are they just a bother? Would you keep…