Monthly Tips
April 2024
TIP 1 NRF on Easter Spending
This Easter season, you may have read the news that cocoa prices were at all-time highs. The National Retail Federation recent Easter survey suggests the high prices may bring overall spending down a little bit, as Americans were projected to spend $22.4 billion on Easter celebrations this year, compared with the $24 billion last year.
You may have noticed higher chocolate prices, or other price increases in recent years. Inflation is known as the silent killer for portfolios too. If you’re considering how inflation will affect your retirement portfolio, you might want to discuss it with one of Garden State Trust Company’s professionals. Helping to create a retirement plan that addresses inflation risk is something we help many clients with.
https://gstrustco.com/investments/managing-preserving-wealth/
TIP 2 Taxes Alert
You may have gotten used to April 18th being the final day to file your taxes since it’s been extended a couple years after COVID struck and the first extension was made. However, the filing deadline for the 2023 tax year is April 15th once again. If you haven’t gotten everything together, or have a trust officer handling that burden for you, the deadline is quickly approaching!
https://gstrustco.com/solutions-services/boomers-beyond/
TIP 3 The Rock Owns His Catch Phrases
You may recall the amazing feat sports announcer Michael Buffer pulled off after trademarking his signature catchphrase “let’s get ready to rumble” – he licensed it out to make more than he ever did in the ring – over $400 million dollars!
A fellow ring enthusiast may have been watching his success. When Dwayne “The Rock” Johnson joined the board of directors at TKO Holdings (the owner of the WWE), he also got the rights to the trademark of not only his name but also his signature catchphrases, such as jabroni, and the people’s elbow. It’s yet to be seen whether he’ll make the kind of monetary gains that Michael Buffer did, but it will be interesting to see how he utilizes it.
Digital and unique assets such as trademarks can be difficult to value, and as such can create complications when it comes to estate planning. Especially for high-value estates, the IRS may have very different determinations about what the value should be. If you’re wondering about what’s usually done in such cases, talk to us.
https://gstrustco.com/solutions-services/your-digital-estate/
TIP 4 Privacy Is Getting Harder To Protect
The right to privacy may seem like something that shouldn’t be given up. However, very often the sharing of personal data is demanded in exchange for lower prices. In many cases, the choice isn’t whether to pay or give up privacy, it’s whether to give up privacy in order to use the product, or not use it at all.
It’s becoming harder to protect one’s privacy, and sometimes we don’t even realize privacy has been invaded. Now major car companies have joined the ranks, among others. Read more about this issue in our latest blog: Privacy Is Getting Harder To Protect
https://gstrustco.com/trusts-estates/asset-protection-trusts/
