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…
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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 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…
Tagged with: Average Joe's, Connecticut, Connecticut Probate Court, Death Benefit, Dependents, Estate Plan, Estate Planning, Estate Tax, Estate Tax Exclusion, Estate Tax Rate, Federal Estate Exclusion, Federal Estate Tax, Guardian, Health Care Proxy, Higher Education, ILIT, Intestacy Rules, Irrevocable Life Insurance Trust, Level Term Life Insurance, Life Insurance, Permanent Insurance, Power of Attorney, Probate Court, Term Life Insurance, Trust, Warren Buffet, Will
Why Defense First Wins Your Financial Planning Game
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…
The Tale of Two Unrestricted Gifts
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…
May The Odds Be Ever In Your Favor
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…
7 Easy Year End Tax Saving Steps for Connecticut Taxpayers
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”)…
Estate Planning Lessons Learned From My Mom’s Estate
This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA My mother passed away this year at age 84. While her estate was fairly modest, here is some estate planning lessons we learned about…
3 Reasons Affluent Connecticut Residents Should Consider a Roth Conversion
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…
Tagged with: Beneficiary, College Tuition, Connecticut, Connecticut Estimated Tax, Connecticut Income Tax, Connecticut Residents, Connectiut Estate Tax, CT, Estate Planning, Estate Tax, Estate Tax Portability, Estimated Tax, Gift Tax, Gift Tax Return, Income Tax, Inherited Roth IRA, IRA, Itemized Deductions, Ordinary Income Tax, Required Minimum Distribution, RMD, Roth Conversion, Roth IRA, Tax Penalty, tax-deferred, Tax-Free, Taxable Income
True Confessions
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…
Tagged with: Broad Brook Connecticut, Broad Brook Grammar School, Bryant College, Bryant University, Cash Reserve Fund, Disability Insurance, Estate Planning, Health Insurance, HELOC, Home Equity Line of Credit, Home Mortgage, Life Insurance, LTC, Manchester Community College, MCC, Mulligan, Pension, POA, Power of Attorney, Retirement Planning, Trust Agreement, Will
6 Easy Ways a Financial Advisor Can Add Value
1) Risk Management I know risk management is just another term for insurance. No one wants to read about insurance, much less buy more of it. Insurance however is just a way to share the risk. There are many risks…
