Category: Ask Garden State Trust

Dear Garden State Trust: I’m financially secure, and have married for a third time. Lately my kids (from the first two marriages) have been asking about their inheritances. They seem to be concerned that my spouse — or perhaps a future spouse — might freeze them out. How might I allay their concerns? —Third Time’s…

Dear Garden State Trust: When the Fed cut interest rates at the end of July, the stock indices fell. I thought lower interest rates were good for stock prices? What’s going on? Should I be worried about my portfolio? —Worried Investor Dear Worried: Two factors seem to have been at work to produce this unexpected…

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…

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…

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…

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…

Dear Garden State Trust: Can I provide something for my pets in my will? Didn’t Leona Helmsley set up a trust for her dog? —Thoughtful Animal Lover Dear Thoughtful: Yes, Mrs. Helmsley created a $12 million trust to care for her pet, Trouble. However, the probate court subsequently reduced the size of the trust to…