There has been no comprehensive tax reform in the United States for over 30 years. The last time, Ronald Reagan was president. Dan Rostenkowski (Democrat from Illinois) chaired the House Ways and Means Committee, and Oregon Senator Bob Packwood chaired the Senate Finance Committee. Springwater’s Terry Donahe remembers it well, because he served as an […]
At Springwater, we have clients who are over the age of 70, who have individual retirement accounts (IRAs) and who do not need additional income. However, the government requires those over 70 (technically 70 1/2) to take distributions from their IRAs regardless of whether they need or want the money. For those who have a […]
A few weeks ago, our Stream blog highlighted how you can give to charity by donating your appreciated investments. As the donor, you receive an income tax deduction for the fair market value of the securities. The charity receives your donated investments, sells them, pays no taxes and uses the proceeds to support its cause. Today we’re […]
According to a study financed by the Justice Department, as many as one in 20 older adults said they were financially mistreated in the recent past. And with 10,000 people turning 65 every day for the next decade, a growing pool of retirees are susceptible to such exploitation. To help elders in financial and other […]
Forbes magazine recently featured a column addressing the question of whether most Americans should have a revocable living trust as part of their overall estate plan. In the author’s view, many estate planning attorneys suggest that everyone should have a trust, while most Americans don’t even have a simple will. Since there is an investment […]
Most people know that having some sort of estate plan in place makes good sense, regardless of your net worth, so that your financial and family goals are met when you die. And having these documents in place can make the end of life a little less painful for those left behind. But which documents […]
The Associated Press recently published more sobering news about the impact that an aging population will have on the need for long-term care. Government figures show that about 70% of Americans will need some form of long-term care after they reach age 65, yet only 20% of Americans think they will need such care some […]
The Wall Street Journal recently published a feature section on avoiding potential traps and pitfalls with your year-end charitable giving. You can read the entire December 16, 2013 article here.
MarketWatch explains why (almost) everyone can benefit from putting in place the estate planning basics – a will and a living trust. You can read the entire May 21, 2013 article here.