Tag Archives: Trust

Why you may want an Institutional Trustee/Trust Service!

Trusts continue to gain in popularity, both in our office, by the general public, and in their usage and effectiveness in our opinion.

Here in this post is a great summary of Trusts and their various types and uses.

As a reminder, Trusts are not for everyone, they are VERY useful in the correct situation, but in a perfect world, not always necessary…. What follows speaks to those with few other options!

In this preview article of the coming newsletter – (yes we are already working on the Q2 Newsletter) we wanted to dig deeper into the use of and Institutional Trustee or Trust Service.

Why you may need an Institutional Trust Servicephoto-1473186505569-9c61870c11f9

An Institutional Trust Service can be thought of as a formal outside professional entity that will perform the desired services you have requested in your personal Trust.

We cannot be your Trustee or Professional Trust, but the good news is we have a VERY good relationship with a Professional Trust Service that can seamlessly honor your wishes as needed, and allow J.K. Financial to continue to drive the Financial Planning and Investment process.

  • No other comfortable option – Many times a friend/family member is preferred
  • Want an iron clad back up
  • Calming possible family feuds
  • Long lasting legacy desired
  • Desired attention to details such as monthly distributions, bill payments etc.

Are just a few reasons that an Institutional Trust/Trust Service may be just the perfect fit for your Trust!

Have a Great “Perfect Trustee” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
jkfinancialinc
street-cents

Estate Planning – Total Document Summary – Part 1

This is another redo of an article/post of several years back. We reference this so much we thought it a good idea to present it again, especially to those who may not have seen it originally – As a reminder, we like all of your Estate Planning Documents to have a virtual home in your Vault for easy, safe continued access! Ok – Let’s get going – again!

The term “Estate Planning” gets thrown around frequently, sometimes by us. Recently we tossed the term out and upon finding we did not have an article with a total summary of “Estate Planning Docs” an article was born.

Break in – If you have not reviewed your documents in five + years, now is a good time… let us know, as we should have a soft copy of file … if not…send us one please!

Estate Planning Docs

Will – Document that directs non-beneficiary directed assets (Ex ..house, property, cash and regular investment assets) and may create trusts for minors, names a Custodian, Executor and may also create trusts and Trustees for estate tax minimization and other uses (see final statement in article below on Trusts.)

Power of Attorney– Financial document that appoints someone other than you to make most financial decisions in your absence. Generally this document immediately becomes effective upon authorization, as opposed to upon disability.

Healthcare Power of Attorney – Document that appoints someone to make important healthcare decisions if you are unable. Think un-conscience and need to approve some type of procedure.

HIPPA – Allows your appointed person to receive medical information on your behalf. This is the ant-privacy document to counter unintended consequences of many of the recently enacted privacy laws.

Living Will- Cease and Decease – DNR – These titles are one in the same and are frequently confusing. This document allows medical professionals to NOT mandate all possible care, should you become deceased mentally, but not in body function. DNR stands for do not resuscitate, and is probably the most explanative title.

We will dig more into Trusts in a specialized post (Part 2)  just dealing specifically with that area of Estate Planning!

Now you have a great all-in-one spot for just what the heck all those “Estate Planning” docs are… and us too !

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
www.jkfinancialinc.com
www.street-cents.com

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Most and Least Trusted Media Sources

We did not make this, so please do not yell at us if you disagree…haha

We do find this very interesting.

This chart was part of a report from our friends at Visual Capitalist, who were actually reviewing a study completed by the Donald W Reynolds Journalism Institute at the University of Missouri.

According to 8,728 people in 28 different areas… Here are the results !

Media - trust-news

Have a Great “Trusting News” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
www.jkfinancialinc.com
www.street-cents.com

April 2016 Video, Economic and Capital Market Monthly Review, By John Kvale

Here is our April 2016, all new…trendy format Monthly Economic and Capital Market Review, along with a Video for your viewing and listening pleasure. Hope you are enjoying!

 April 2016 Video

Financial Planning Tip – The Estate Plan

Estate Docs Summary

Recently we came across the fact that we did not have a post with a summary of Estate Planning Docs. Here is a link to the detailed explanation of each.

The documents needed:

  • Wills
  • Power of Attorney
  • Healthcare Power of Attorney
  • HIPPA
  • Living Will
  • Trusts

A good Estate Plan will likely include most of these documents.

Economic Update

US Dollar Takes a rest

After a scorching run (much stronger) in 2014 and early 2015, the US Dollar has slowed it’s ascent. While travelers abroad have enjoyed a stronger translation of currency, headwinds have occurred in many other ways.

  • International Company profits struggle
  • Commodity weakness
  • Foreign holdings sag in value
  • Foreign Countries holding US debt saw increased amounts
  • China devalue the US peg, slowly

4-29-16 US Dollar 1- year

 

GDP Update

The first Quarter of 2016, Gross Domestic Production (the broadest measure of economic growth/production) was revised to .5%.  The Federal Reserve members want this much higher, think 2% plus.

As can be seen this number is volatile and for some reason has been showing a rather weak first quarter reading the past several years.

Two consecutive negative readings of GDP are the definition of a recession.

 4-28-16 GDP Econoday

Capital Markets Update

Commodities

After dropping to $26 and change in February, oil breached $45 a barrel this latest month. It is highly possible that when we look back on the affects of this extremely low oil price had on our economy, it MAY have been much greater than we ever expected.

Oil related tentacles may have gone much more broad than measured. Another benefactor of the stable/weaker US dollar.

 

4-29-16 Crude Front Futures

 

International Markets

Little brother international markets, more commonly known as Emerging Markets may be getting their feet under them. Tossed out and left for dead, these markets may have the strongest long term growth potential in the world.

4-28-16 EEM

Never go all in or all out !

 

Have a Great Day!

See you again at the end of May !

John A. Kvale

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
www.jkfinancialinc.com
www.street-cents.com
JK Street Cents Logo

 

 

Estate Planning – Total document summary

The term “Estate Planning” gets thrown around frequently, sometimes by us. Recently we tossed the term out and upon finding we did not have an article with a total summary of “Estate Planning Docs” an article was born.

Break in – If you have not reviewed your documents in five + years, now is a good time… let us know, as we should have a soft copy of file … if not…send us one please!

Estate Planning Docs

Will – Document that directs non-beneficiary directed assets (Ex ..house, property, cash and regular investment assets) and may create trusts for minors, names a Custodian, Executor and may also create trusts and Trustees for estate tax minimization and other uses (see final statement in article below on Trusts.)

Power of Attorney– Financial document that appoints someone other than you to make most financial decisions in your absence. Generally this document immediately becomes effective upon authorization, as opposed to upon disability.

Healthcare Power of Attorney – Document that appoints someone to make important healthcare decisions if you are unable. Think un-conscience and need to approve some type of procedure.

HIPPA – Allows your appointed person to receive medical information on your behalf. This is the ant-privacy document to counter unintended consequences of many of the recently enacted privacy laws.

Living Will- Cease and Decease – DNR – These titles are one in the same and are frequently confusing. This document allows medical professionals to NOT mandate all possible care, should you become deceased mentally, but not in body function. DNR stands for do not resuscitate, and is probably the most explanative title.

We will dig more into Trusts in a specialized post just dealing specifically with that area of Estate Planning!

Now you have a great all-in-one spot for just what the heck all those “Estate Planning” docs are… and us too !

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
www.jkfinancialinc.com
www.street-cents.com

JK Street Cents Logo

 

Important Tax Dates to Remember – Personal/Corp Extensions – Partnerships/Trusts

Just when you thought it was safe to forget all that tax stuff … here comes a few important dates to remember (abide by.)Tax Guy hit in head

Reminder – Important Tax Dates

September 15 –  DUE Dates

  • 1120 or other corporate automatic extension deadline filing date
  • 1040/personal Estimated Tax payment f0r individuals if necessary
  • Corporate Quarterly estimated filing

October 15 – DUE Dates

  • 1040/personal automatic extension due date
  • Partnership/1065, Trust and Estate/1041 due date

Just a friendly reminder !

Have a Great Day!

John A. Kvale CFA, CFP

http://www.jkfinancialinc.com
http://www.street-cents.com
8222 Douglas Ave # 590
Dallas, TX 75225


 

 

Do you need a Trust? Maybe, Maybe Not … Benefits of a Revocable Living Trust

Trust – It should have been a four letter word considering all of the confusion it causes. Living in Texas, there are not as many uses for the revocable trust, however, we continue to warm to the Trust and find it very useful in many situations.LivingTrustEstatePic

To Trust or not to Trust?

To prevent a lengthy discussion, the focus of this post is on the Revocable Trust. This type of trust is the most common, but much different from its relative, the Irrevocable Trust.

Just a few benefits of the REVOCABLE Living Trust:

  • Easy to set up
  • Simple to change
  • Avoids Probate (Especially helpful in expensive probate states such as California and Florida –Not as much in Texas, but again still useful)
  • Great Organizer of affairs and death directives
  • Helps with privacy-non probate
  • Holds almost any type of asset
  • Relies on corporate law versus probate law
  • Neither helps or hurts from a Tax standpoint and does not require its own Tax ID

misunderstood aspects of a revocable Trust:

Does very little to prevent creditor exposure. — Since it is revocable, creditors can argue since you can do almost anything you wish with the assets, they are essentially yours and liabilities pass through to the trust.

Upon death of the beneficiary, in most cases a revocable trust becomes very strong and will have greater protections.

Lastly, a revocable trust rarely helps with Federal ESTATE Taxes. These are the taxes levied on estates over $5.4 million by individuals or $10.8 by couples.

Still confused? Drop us a line !

Have a Great Wednesday!

John A. Kvale CFA, CFP

http://www.jkfinancialinc.com
http://www.street-cents.com
8222 Douglas Ave # 590
Dallas, TX 75225

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