Page 11 - Jupiter West - July '18
P. 11

Jupiter West, Page 11
      Want To Give The Kids An Early Inheritance?



      Four Things To Consider



      Submitted by Anné                                  (child, grandchild, or anyone else) per year without any   4. Don’t Touch Your Own Retirement.
      Desormier-Cartwright, Esq.                         gift tax issues at all. You might hear these $14,000 gifts     If the immediate need is great for one or more of your
        If you’re thinking about                         referred to as “annual exclusion” gifts. There are also   children, resist the urge to tap into your retirement accounts
      giving your children their                         ways to make tax-free gifts for educational expenses   to help them out. Make sure your own future is secure before
      inheritance early, you’re                          or medical care, but special rules apply to these gifts.   investing in theirs. It may sound selfish in the short term,
      not alone. A recent Merrill                        Your estate planner can help you successfully navigate   but it’s better than possibly having to lean on your kids for
      Lynch study suggests that                          the maze of tax issues to ensure you and your children   financial help later when your retirement is depleted.
      these days, nearly  two-                           receive the greatest benefit from your giving.      Giving your kids an early inheritance is not only
      thirds of people over the                          2. Gifts That Keep On Giving                      feasible, but it also can be highly fulfilling and rewarding
      age of 50 would rather pass                          One way to make your children’s inheritance go   for all involved. That said, it’s best to involve a trusted
      their assets to the children                       even farther is to give it as an appreciable asset. For   financial advisor  and  an experienced estate planning
      early than make them wait                          example, helping one of your children buy a home could   attorney to help you navigate tax issues and come up
      until the will is read. It can be especially satisfying to   increase the value of your gift considerably as the home   with the best strategy for transferring your assets. Give
      fund our children’s dreams while we’re alive to enjoy   appreciates in value. Likewise, if you have stock in a   us a call today to discuss your options.
      them, and there’s no real financial penalty for doing so,   company that is likely to prosper, gifting some of the     If you have questions about this article or your estate
      provided that you structure the arrangement correctly.   stock to your children could result in greater wealth for   plan and what documents are necessary schedule a
      Here are four important factors to take into account when   them in the future.                      consultation today by calling our office at (561) 694-
      planning to give an early inheritance.             3. One Size Does Not Fit All.                     7827, Anné Desormier-Cartwright, Esq., Elder & Estate
      1. Keep The Tax Codes In Mind.                       Don’t feel pressured to follow the exact same path   Planning Attorneys PA, 480 Maplewood Drive, Suite 3,
        The IRS doesn’t really care whether you give away   for all your children in the name of equal treatment. One   Jupiter, FL 33458.
      your money now or later – the lifetime estate tax   of your children might actually prefer to wait to receive     The content of this article is general and should not be
      exemption  as  of  2016  is  $5.45  million  per  individual,   her inheritance, for example, while another might need   relied upon without review of your specific circumstances
      regardless of when the funds are transferred. So, whether   the money now to start a business. Give yourself the   by competent legal counsel. Reliance on the information
      you give up to $5.45 million away now or wait until you   latitude to do what is best for each child individually;   herein is at your own risk, as it expresses no opinion by
      die with that amount, your estate will not owe any federal   just be willing to communicate your reasoning to the   the firm on your specific circumstances or legal needs.
      estate tax (although, remember, the law is always subject   family to reduce the possibility of misunderstanding or   An attorney client relationship is not created through the
      to change). You can even give up to $14,000 per person   resentment.                                 information provided herein.



                                                                                                             I Didn’t Know That from page 10
            Compare             1-year                     APY*
            Our CD                         2.3%  %         APY*     Minimum deposit       $10000             What Was The Most Popular Password Of 2017?
                                                                                                               Security firm Splashdata, which every year
            Rates               18 months  2.55%  %                 Minimum deposit       $10000             compiles a list of the most common stolen passwords,
                                                                                                             found that “123456” was the most common password
            Bank-issued,        2-year     2.8%  %         APY*     Minimum deposit       $10000             in 2017. “123456” and “password” retained the top
            FDIC-insured                                                                                     two spots on the list – for the fourth consecutive year.
                                                                                                             How Did Hitler Die?
           * Annual Percentage Yield (APY) effective 06/18/2018. CDs offered by Edward Jones are bank-issued and FDIC-insured up to $250,000     He shot himself. It happened on April 30, 1945.
           (principal and interest accrued but not yet paid) per depositor, per insured depository institution, for each account ownership category. Please
           visit www.fdic.gov or contact your ÿnancial advisor for additional information. Subject to availability and price change. CD values are subject   Soviet troops were approaching his complex and he
           to interest rate risk such that when interest rates rise, the prices of CDs can decrease. If CDs are sold prior to maturity, the investor can lose   decided to kill himself.
           principal value. FDIC insurance does not cover losses in market value. Early withdrawal may not be permitted. Yields quoted are net of all   What Is The Record Number Of Children Borne
           commissions. CDs require the distribution of interest and do not allow interest to compound. CDs offered through Edward Jones are issued by
           banks and thrifts nationwide. All CDs sold by Edward Jones are registered with the Depository Trust Corp. (DTC).  By One Woman?
                                                                                                               The most children born to any woman in
                        Sally S Stahl, AAMS®                            www.edwardjones.com                  recorded history is 69. The mother was a peasant
                        Financial Advisor                               Member SIPC                          from Shuya, Russia, identified only as the wife of
                                                                                                             Feodor Vassilyev. Mrs. Vassilyev lived during the
                        1851 W Indiantown Rd Ste 106                                                         18th century, and had 27 pregnancies, including 16
                        Jupiter, FL 33458                                                                    pairs of twins, seven sets of triplets and four sets of
                        561-748-7600                                                                         quadruplets. The case was reported to Moscow by
                                                                                                             the Monastery of Nikolsk on Feb. 27, 1782, which
                                                                                                             had recorded every birth.
                                                                                                             Things I Didn’t Know I Didn’t Know:
                                                                                                               Grover Cleveland became the first and only U.S.
                               pickupS FOR AuTiSM ...                                                        President to be married at the White House. The average
                                                                                                             person spends six years of his or her life dreaming. Bingo
                                                                   ... and Related Disabilities              games that last for more than five hours are illegal in
                                                                                                             North Carolina. If anyone is caught stealing soap in
                                                                                                             Arizona, the thief must wash himself or herself until
                                                                                                             the bar of soap has completely disappeared. The state of
                                                                                                             Texas, in its laws, expressly forbids the selling of one’s
                   GOT cluTTeR?                                            DOnATe YOuR                       own eyeballs. The first president born in the United
                                                                                                             States was Martin Van Buren. The United States has
                                                                             GenTlY uSeD                     more aircraft carriers than every other country combined.
                                                                                                             Gerald Ford is the only person to have been both vice
                                                                                          iTeMS              president and president despite not having been elected

                                                                               Call us now                   to either position. There are 100 divorces an hour in
                                                                                                             the United States. Christmas was illegal in the United
                                                                      for a free piCkup                      States until 1836; prior to that, it was considered a pagan
                                                                                                             festival. A billion birds die each year from flying into
                                                                       561-361-0032                          glass. Sharks kill 12 people on average per year while
                                                                                                             people kill approximately 11,417 sharks per hour. The
                                                                        www.9pickup.com                      founders of Hewlett-Packard flipped a coin to determine
                                                                            1.888.9.pickup                   whose name would appear first in the company.



                                                                                                             Sunday, July 22








                                                                                  All Donations are Tax Deductible
                                                                                 Certificates of Insurance Available



          Clothing • Linens • Furniture • Jewelry • Art • Toys • Household Goods
   6   7   8   9   10   11   12