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Last year, we created an end-of-year list of some financial considerations and annual maintenance items that clients should consider. As fall approaches, we want to revisit some of those items while also outlining some additional considerations which may require more time and effort to address. 1. Prepare and/or Revise Your Personal Inventories We often advise […]
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We will admit that it feels odd to speak about “The SECURE Act 2.0” when it feels like we are still getting our arms around some of the planning and administrative implications of the original SECURE Act (see the proposed regulations released in April 2022 and “4 IRA Rules you should know from the SECURE […]
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Charitable planning is an important element for many estate plans – whether your primary purpose is minimizing the estate tax burden for your loved ones or whether charitable giving is a lifetime habit that you wish to continue, retirement assets can be a wise choice of assets for those who are looking to leave a […]
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Sometimes, the name given to certain federal tax laws disguises the full scope of the laws and the impact the laws may have on you individually. For example, the gift tax laws not only apply to formal gifts from one person to another, but they also apply to transfers whenever the donor shifts assets without […]
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If you are looking to make a positive impact on the world, while also reducing your tax liability, we encourage you to consider establishing a donor-advised fund. A donor-advised fund (DAF) serves as a vehicle to donate assets directly to a charity typically of your choosing. However, the sponsoring organization maintains ownership of the fund […]
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Estate taxes are an unfortunate reality for beneficiaries lucky enough to qualify for them. You want your family to enjoy the fruits of your labor and possibly carry on the legacy of your business after you are gone. However, sometimes success comes at a cost. While only a small percentage of estates qualify for the […]
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Qualified Charitable Distributions (QCDs) are distributions made directly from your Individual Retirement Account (IRA) to a qualified non-profit organization. Making a donation through a QCD at the right time can not only benefit a charity you feel passionate about, but can also help reduce the income tax impact caused when you begin taking Required Minimum […]
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At Sessa & Dorsey, we provide a holistic perspective on estates and trusts. We believe our clients should be well-versed in all aspects of financial wellness, to complement the benefits of a customized and up-to-date estate plan that meets their specific needs and desires. A financial advisor can be an invaluable asset to your family’s […]
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For many, charitable giving provides tangible and intangible benefits throughout your lifetime, while also establishing a legacy after you die. There are several ways to structure a charitable gift. Determining how to share your assets with others is dependent on your own financial situation, your interests, and to what extent you wish to see, first-hand, […]
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