Monthly Tips
December 2023
TIP 1 Caregivers All Around Us
With the passing of Rosalynn Carter last month, we reflect on her many great charitable works. Because we are a trust company that often deals with aging and caregivers, a quote from her words for the Senate Special Committee on Aging in 2011 is more relevant than ever –
“I like to say that there are only four kinds of people in the world- those who have been caregivers, those who are currently caregivers, those who will be caregivers and those who will need caregivers.”
Garden State Trust Company works with all four of those categories of people, including the fourth, who are often solo agers in need of a corporate entity that they can trust to handle their finances in case of incapacity. We are held to a fiduciary standard, and we also have relationships with caregivers and care facilities, to whom we can refer people quickly to be confident our clients receive the care they deserve.
https://gstrustco.com/resources/seven-critical-questions-for-solo-agers/
TIP 2 Gifting Strategies For the Holidays
When it comes to substantial gifts and wealth transfer within the family, there are many strategies that can be used to minimize taxes and maximize the financial security those gifts create for family members and loved ones.
Read about ways to utilize the Annual Gift Tax Exclusion and Lifetime Gift and Estate Tax Exemption in our latest blog: Taxes to Consider with Stock Gifting Strategies for the Holidays.
https://gstrustco.com/assets/GST-CRT-brochure.pdf
TIP 3 Where Did Wawa Come From?
Garden State Trust Company started in New Jersey, and we’ve now expanded to offering our services in Pennsylvania. On the other hand, Wawa started in Pennsylvania and expanded to New Jersey, with more locations in New Jersey now than anywhere else.
It’s hard to be in New Jersey and not know of Wawa, but their story isn’t ordinary rags to riches. An interesting compilation of the history of Wawa has been published by nj.com here, including videos of their early advertisements, quotes from their former CEO and superfans, and information regarding their success and failures.
https://gstrustco.com/about-us/meet-our-team/
TIP 4 New Year’s Resolution
Another year is about to be upon us, and with it the hopes that the future brings. When the ball drops, we’ll likely hear the traditional “auld lang syne” yet again. Ever wonder what those words mean? They mean “old long ago” and the chorus roughly translates to:
For old long ago, my dear
For old long ago,
We will take a cup of kindness yet
For old long ago.
The lyrics are apt for the occasion, as most of us are reflecting on the past year, and raising cheers to our shared experiences.
As we reflect, let us renew our resolution to keep trying to achieve the goals we’re still working on with friends as well. From all of us here at Garden State Trust Company: Happy New Year everyone!