This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA Really? It’s difficult enough when someone passes away. It’s even more difficult when someone passes away with minor children. It’s unbelievable when someone with minor children passes away and has not appropriately planned for the funding of their education. It’s… Continue Reading: Make Your Checks Payable to the Smith Family Education Fund…
This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA My mother passed away at age 84. While her estate was fairly modest, here is some estate planning lessons we learned about her estate. Give While You Are Alive My mom’s estate was modest. She had a house, a car… Continue Reading: Estate Planning Lessons Learned From My Mom’s Estate
This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA “Offense sells tickets. Defense wins championships.” Paul “Bear” Bryant – Former Head Football Coach University of Alabama and six-time National Champions. Defense wins championships. It appears the “Bear” knew what he was talking about with six National Championships. It’s the… Continue Reading: Why Defense First Wins Your Financial Planning Game
Roth Conversion makes a great wealth transfer tool Continue Reading: Scanlon Quoted in Barrons.com
This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA The Hunger Games was a bestselling novel that was subsequently made into a movie. Both were awesome. The setting is one where the Capital is abundant in riches. The outlying 12 Districts are all living in poverty. Every year there… Continue Reading: May The Odds Be Ever In Your Favor
This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA Expect the Unexpected Expect the unexpected. When the unexpected happens, there is no do-over. There is no reset button to push. Remember, You Only Get a Mulligan in Golf. You knew that already. So why am I telling you this?… Continue Reading: 5 Easy Ways to Plan for the Certainty of Your Financial Uncertainty
This is tale of two unrestricted gifts made by donors when they passed away. Robert Morin Robert Morin worked as a librarian at the University of New Hampshire (“UNH”) for nearly 50 years. When he passed away he surprised the school by leaving his entire estate of $4 million to his alma… Continue Reading: The Tale of Two Unrestricted Gifts
1) Fund a CHET 529 College Savings Plan 529 College Savings Plans are an effective way to save for a child’s or grandchild’s education. The State of Connecticut allows Connecticut Taxpayers to fund a Connecticut Higher Education Trust (“CHET”) 529 College Savings Plan and take a State Income Tax Deduction. Married couples filing a… Continue Reading: 7 Easy Year End Tax Saving Steps for Connecticut Taxpayers
Affluent folks in Connecticut should consider doing a Roth Conversion. What is a Roth Conversion? This is when a distribution is made from an IRA, taxed and then converted into a Roth IRA. Here are Five Reasons the Affluent Should Do a Roth Conversion. 1) Reduce Your Taxable Estate When you do a… Continue Reading: 3 Reasons Affluent Connecticut Residents Should Consider a Roth Conversion
Sorry for the dramatic headline. Most of you that know me are aware that I’m pretty conservative and not one for grandstanding. Don’t worry—I’m definitely not qualified to write for the National Enquirer, and no, I won’t be discussing the Kardashians.