Monthly Tips July 2018

Monthly Tips

JULY 2018


TIP 1 Independence Day

At Garden State Trust Company, we help people who are approaching retirement answer the question: Are we ready to declare our financial independence? We look at their assets, income, and expenses to help them understand their readiness.

We are thankful in America to be an independent and free nation. We wish our best to our veterans, armed forces, and law enforcement that continue to protect our freedom. Happy Independence Day!


TIP 2 Caring for an Aging Parent

With increasing life expectancies and medical advances, the likelihood that you will need to help your aging parent continues to rise. Some are predicting that the number of caregivers needed is going to double in the next three years.

There are significant challenges and considerations in the legal, financial and medical areas that must be faced in your role as caregiver. Whether your parent needs help now or sometime in the future, our professionals at Garden State Trust Company would be glad to help you prepare for that challenge.


TIP 3 Paul Newman Foundation

Paul Newman used a trust in his estate planning, so his family’s financial privacy has been secured. However, his will also left his food company, a for-profit venture, to his foundation. This unusual setup has meant big tax problems, until a new legislative fix was added into the “Bipartisan Budget Act of 2018” called the “Philanthropic Enterprise Act of 2017”.

Click here to read more about why many have also referred to this act as “Newman’s Own Exception” in our blog.


TIP 4 Referral Request

We are extremely gratified whenever a client, or estate planning professional trusts us enough to recommend our services to a client or friend. We know that they are putting their reputation on the line, and so we always do everything we can to make them proud to have us as part of their team. For confidentiality reasons, we can’t mention who made referrals to us this year (you know who you are), but thank you very much!!!