Monthly Tips November 2018

Monthly Tips



TIP 1 IRA Rollovers – 401(k) distribution

Developing a significant 401(k) for retirement is no easy task, and even if you’re able to achieve such a feat, the job of maximizing its value through retirement will still exist. For example, a lump-sum distribution from your 401(k) could create a tax problem by putting all the income into a single tax year, pushing one into a higher tax bracket. The better course for many is rolling the money into an IRA and spacing out the distributions. We’d be glad to help you assess your situation if you’re approaching retirement and aren’t sure what to do – just let us know.


TIP 2 Thanksgiving

Have you considered what you’re thankful for recently?

In all aspects beyond our contractual trust services, we are thankful for the trust that is extended and upheld between people, families, and friends that enriches communities and creates prosperity. Thank you to our clients, employees, and communities for trusting us and allowing us to have impact in your lives. Happy Thanksgiving!


TIP 3 Largest Single Ticket Lottery on Record

Last month the largest single ticket winning lottery ticket on record was drawn, and it was so large that we stopped referring to the winning in terms of millions, and started referring to it in terms of billions. Over 1.5 billion! What would you do with such a fortune? Perhaps consider a trust?

It’s a myth that trust services are only for the rich, and the lottery isn’t the most common source of sudden or new wealth either. Lump sum distribution of retirement benefits, insurance settlements, inheritance, or the sale of a business or investment real estate can create large sums of money for talented people who, like most lottery winners, do not have experience with wealth management.

Learn more about sudden wealth in our blog post here.