Category: Ask Garden State Trust

Dear Garden State Trust: I’m going to make a major charitable gift to my alma mater, but I also need to provide for my heirs. How can I balance these competing interests? —Budding Philanthropist Dear Budding: Explore a split-interest charitable trust.  Such a trust has both private and charitable beneficiaries (hence, the “split”). You contribute…

Dear Garden State Trust: I immigrated to this country from Norway as a child, and I have relatives there with whom I remain close. One of my children lives in Oslo now and may be settling there permanently. For several years, I’ve helped fund some family reunions. The get-togethers alternate between the U.S. and Oslo,…

Dear Garden State Trust: What are the chances that the wild ride for stocks will end soon? What does the latest GDP figure suggest for the future? —All Shook Up Dear Shook: The U.S. Gross Domestic Product grew at a record 33.1% annualized rate during the third quarter of the year. The previous one-quarter record was…

Dear Garden State Trust: I understand that you are a “corporate fiduciary.” What is that exactly? Aren’t you just a different flavor of stockbroker or financial planner? —Shopping For Advice Dear Shopping: “Fiduciary” is a legal term that describes the duties that one party owes to another in a business relationship. A fiduciary duty is…

Dear Garden State Trust: How much longer will these low interest rates last? As the bonds in my portfolio mature, I’m having a really hard time replacing their income. —Frustrated Bond Investor Dear Frustrated: I’m afraid that the very low interest rates we have today will not soon change. Interest rates are being kept low…

Dear Garden State Trust: I’m old enough to retire, but I’m not sure I’m ready yet. I think I have strong financial resources, but I don’t know if they are enough to make me financially independent for the rest of my life. Retirement seems so terribly uncertain to me. When should I make the jump?…

Dear Garden State Trust: I turned 70½ in 2019, so I had to take my first required minimum distribution in early 2020, before April 1. I did. Now I’ve heard that I didn’t have to take that RMD after all? —Drawing Down Slowly Dear Drawing: You’ve heard correctly. The waiver of RMDs was included in…