Monthly Tips
May 2026
TIP 1 Mother’s Day
Mother’s Day, coming up this month, is often celebrated with a card, phone call, or outing. These are all good ideas, as they are taking a moment to focus a little more than we usually do on someone we cherish.
If you are looking for fun activities to enjoy, this blog from NJmom.com has some nice suggestions, such as a farm retreat in New Jersey. One thing missing from the list though, putting together a trust for Mom, so that in the unfortunate case she becomes a widow (given the longevity of women over men, it’s been known to happen), she has time to focus on her grief instead of figuring out the finances. It’s a gift that can relieve financial anxiety, possibly even more than a spa day.
https://gstrustco.com/trusts-estates/revocable-living-trusts/
TIP 2 Let Us Do the Research
Recently, there was an informative article in Forbes about new reporting rules effective this year regarding transfers of homes to trusts. If knowing the differences between Beneficiary Defective Irrevocable Trusts (BDITs) and Qualified Personal Residence Trusts (QPRTs) and other such acronyms appeals to you, that is great and we are kindred spirits. If not, it is still great because we can step in and ensure the reporting rules are followed on your behalf and the appropriate type of trust is used for your unique situation.
The biggest issue with doing it yourself, is that you have to do it yourself, and often be up on the latest way to do it correctly. A professional trustee such as Garden State Trust company participates in continuing education to ensure they are staying compliant. Sometimes, even if you can do it yourself, it’s better to focus on things that excite you more and delegate. Let us know if you’d like to delegate trust management to us.
https://gstrustco.com/solutions-services/trustee-services/
TIP 3 Memorial Day
Each Memorial Day we spend time remembering those who have made the ultimate sacrifice to create and maintain the freedoms we enjoy in this country. It can be difficult or awkward because we both want to celebrate their success and achievement, but not dismiss the seriousness of their sacrifice. The Wounded Warrior project has this advice on their news page about Memorial Day: “Rather than ‘Happy Memorial Day,’ say something like ‘Have a meaningful Memorial Day.’”
From all of us at Garden State Trust Company, we hope you have a safe and meaningful Memorial Day this year.
TIP 4 Is There Age Discrimination When Selling a Home?
Although age discrimination is usually considered when it comes to the workplace, one should also consider how it affects other things in our lives. Sometimes, that special treatment can be positive, such as a senior discount, special early bird hours for seniors at a grocery store, or being eligible for certain government benefits. Other times, it may not be so nice, and worth examining further. For example, there is recent statistical research from Boston College that reveals older home sellers have a lower rate of return on their housing investment. Learn more in our latest blogpost: Taking Your Time Is Hard Without a Lot of Time Left