Banknotes

By: Alyssa Chance, Vice President & Trust Officer

Congratulations! Your estate plan is set, your beneficiaries are named ... you’re done, right? Not so fast. In the oft-quoted words of the Greek philosopher, Heraclitus: “Change is the only constant in life.”

If you’ve had a big life change, it is a good time to review your estate planning documents, to ensure your plan continues to reflect your wishes. It also makes sense to review life insurance or investment accounts where a list of beneficiaries has been made. Here are a few life events that could trigger a review of your documents.

Topics: Wealth Management, Estate Planning, Retirement Planning

By: Dan Savage – Senior Vice President and Senior Trust Officer

Think about eating a healthy breakfast, organizing your desk, finishing projects on time, openly communicating with colleagues, reading bedtime stories to your kids, regularly working out at the health club. All of these are excellent habits that (hopefully) you’ve incorporated into a daily routine.

Topics: Financial Planning, Wealth Management, Business Operations

By: Mark Drachenberg, Senior Portfolio Manager and Trust Officer

No getting around it: August was a rollercoaster. Market volatility increased, understandably impacting investor confidence. So what do we have to look forward to in the near future – an upswing, a downswing, more of the same?

Topics: Financial Planning, Trust, Wealth Management, Stock Market, Economic Outlook, Economy

By: Jeff Collins, Vice President & Trust Officer

At some point in our lives, we may inherit a home or another form of real property, which the Internal Revenue Service defines as “land and generally anything built on or attached to it.” To prepare for that possibility, it’s helpful to gain an understanding of some of the jargon that one can reasonably be expected to encounter when inheriting real estate. For instance, what does “cost basis” mean? And what is a “step-up,” and what kind of tax break does it offer?

Topics: Trust, Wealth Management, Succession Planning, Estate Planning

By: Mark Drachenberg, Senior Portfolio Manager and Trust Officer

Summer has arrived, and with it, the return of long, hazy days, filled with lazing by the pool, or on the beach, or at the lake. A sense of peace and calm, that things are just right in the world. 

Topics: Financial Planning, Wealth Management, Stock Market, Economic Outlook, DJIA, Economy

By: Dan Savage – Senior Vice President and Senior Trust Officer

Estate planning is defined as the process by which an individual plans for the acquisition, use, conservation, and disposition of property or wealth. The National Network of Estate Planning Attorneys offers a clearer explanation:

I want to control my property while I am alive and well, care for myself and my loved ones if I become disabled, and be able to give what I have to whom I want, the way I want, when I want, and, if I can, I want to save every last tax dollar, attorney fee, and court cost possible.

Topics: Trust, Wealth Management, Succession Planning, Retirement Planning

By: Dan Savage – Senior Vice President and Senior Trust Officer

Regardless of your relationship status, wealth planning (sometimes referred to as "life planning") is an important undertaking, but it is particularly critical for single individuals who do not have children.

Topics: Wealth Management

By: Jeff Supple, Vice President & Trust Officer

There are approximately 232 million more Google searches for cute puppies than there are for net unrealized appreciation (NUA), so please forgive me for the clickbait-y title to this piece – it's only meant to draw attention to a wonderful tax and estate planning strategy that is rarely utilized.

Topics: Wealth Management

By: Dan Savage, Senior Vice President and Senior Trust Officer

Regardless of the nature of your business, powerful, unseen laws influence the quality of your client relationships. More to the point, they determine success or failure. When abiding by these laws, your company enjoys the following benefits: 

• Your networks rapidly grow
• Prospects become enthusiastic customers
• Clients view you as trusted partners, rather than expenses to be managed
• Others become eager to help you succeed

Topics: Business Banking, Trust, Wealth Management, Community Banking, Business Operations

By: Jeff Supple, Vice President & Trust Officer

Steven Wright’s quintessential, dry-witted line about excess probably doesn’t do much for most of us, other than cause a chuckle. We probably aren’t looking for a deeper meaning or applying it to our everyday life. However, I thought it might be interesting to examine a few well-known idioms/quotes/sayings and explore how we might use them to make practical applications to our personal finances.

Topics: Financial Planning, Wealth Management, Retirement, Stock Market, Economic Outlook, Retirement Planning, Saving, Budget