Monthly Tips
February 2025
TIP 1 Tax Facts
We have posted our new Tax Facts brochure to our website. We can’t know yet if Congress will extend the tax benefits of the 2017 tax reform legislation (the Tax Cuts and Jobs Act) that expire later this year or if other priorities will be promoted instead, but it may be worth trying to lock in some of those benefits this year while we still can. Let us know if you’d like more information on how to do so.
If you’re curious about the new tax brackets and other inflation-adjusted numbers for 2025, an overview is also available in our handy reference guide for 2025 on our website.
https://gstrustco.com/assets/gtsc-tax-facts-2025.pdf
TIP 2 Presidents’ Day
Presidents’ Day (or Washington’s Birthday on the federal level) is going to be celebrated on February 17th this year. Here’s a fun fact to share:
Though president Washington was born on the 22nd of February, the Uniform Monday Holidays Act in 1968 moved it to the third Monday of each February so Federal employees could have a three-day weekend.
From all of us here at Garden State Trust Company – Happy Presidents’ Day!
https://gstrustco.com/about-us/meet-our-team/
TIP 3 Inheritance
An inheritance can be a one-time windfall, or it can be a lasting source of financial security. When an inheritance is in a trust, it comes with advantages beyond simple access to resources. Learn more with this month’s blog post, “Inheritance Protection Plans.”
https://gstrustco.com/about-us/a-case-for-an-independent-trust-company/
TIP 4 Fiduciary Jargon
Ever feel like there’s a whole other dictionary for trust services? Well, to some degree that’s exactly right, and just like any other industry we have lots of our own jargon.
We are always pleased to explain what any words mean though, and if you’d like to familiarize yourself with our jargon we’ve placed a glossary of the most used terms in trust and estate services on our website that you can access by clicking the link below. You don’t need to know these terms to enjoy the benefits of trust services, but if you’re curious or would feel more comfortable in a meeting, please take a look and then feel free to reach out if you’d like us to elaborate on any of the definitions.
https://gstrustco.com/assets/GSTC-Glossary-of-Fiduciary-Terms.pdf