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November 23, 2020

The Election and Our Investments

November 23, 2020 Every four years, we all, try to predict which candidate will be better for the economy and the stock market.  We go through this emotional roller coaster every four years.  If we think of some prior elections, we were…

October 26, 2020

State Unclaimed Property Programs May Help Find Missing Participants

An article in Plan Sponsor from July reported that the Advisory Council on Employee and Pension Benefit Plans has issued a report to Secretary of Labor Eugene Scalia on transferring amounts from uncashed checks from retirement plans to state unclaimed…

October 11, 2020

Uncertainty All Around

Here at First State Trust Company, we utilize a variety of market commentary from our partners to keep our investment committee up to date on market trends and overall investor sentiment. Over the recent quarter, I have noticed an overwhelming…

October 7, 2020

Election 2020 – Biden’s Proposed Tax Changes

The upcoming election could have a considerable impact on future estate planning and gifting decisions. The budget deficit has also never been higher that it is today, and with the impact of COVID the budget deficit is only to increase.…

September 17, 2020

I Wish I May I Wish I Might… Letter of Wishes

Trustees are often tasked with interpreting discretionary distribution language in a trust document.  Most professional trust companies have developed formal processes to ensure decisions regarding discretionary distributions – when the trust language is liberal – are made consistently without the…

September 1, 2020

Trust Accounting for IRAs

What is Trust accounting and why is it important for an IRA account? Trust accounting is determined by State law, and the applicable state law is driven by the trust account’s situs.  For the purposes of this article, I am going…

August 7, 2020

Estate Planning in the Time of COVID

A couple of months back, during the height of COVID in the Northeast region, my brother-in-law noticed how one of his neighbors, he believed, had passed.  Since we were all still in lockdown mode he made the assumption that –since…

July 30, 2020

The Resurgence of The Spousal Lifetime Access Trust

We are starting to see a renewed interest in the Spousal Lifetime Access Trust (“SLAT”). This was a new estate planning strategy that surfaced in late 2012 designed to take advantage of the lifetime exemption by funding the bypass trust…

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