Centara News & Features
Published quarterly exclusively
for clients and friends of Centara Capital Management Group, Inc., and Centara Legal Group, APC, this e-newsletter updates readers on the latest news
in portfolio management, estate planning, and tax planning strategies.
Market Update
Is anybody else glad this quarter is over? After hitting an all-time high at 1,553 on July 19th, the S&P 500 entered correction mode and slid over 10% over the next month hitting a closing low of 1,406 on August 15th. The other major indexes followed suit. Like a bouncing ball, stocks moved up and down in wild swings for weeks as investors digested the negative news flowing out of mortgage lenders and hedge funds buying subprime loans.
A New Planning Tool in the Toolbox: EquityKey™
Rarely in the Financial and Estate Planning worlds do new products come to market that are as creative and ingenious as EquityKey™. The practical applications for EquityKey™ include increasing one’s standard of living, innovative IRA distribution planning strategies, and tax conscious wealth transfer techniques. The application I will discuss here is how EquityKey™ can be used to purchase additional real estate in order to increase your family’s net worth, while enriching the lives of your loved ones.
The Benefits of a Charitable Remainder Trust
Each week the financial planners at Centara meet with individuals who are planning their retirement. Some have already retired, while others are within a few years of retirement. In most cases, their goals include improving income, reducing taxes and creating a tax efficient plan to transfer assets to beneficiaries.
Legal Corner
IRA Charitable Rollovers
The Pension Protection Act of 2006 (PPA 2006) created a new charitable planning opportunity for both 2006 and 2007. Under PPA 2006, an IRA owner age 70½ or older may make a direct transfer to charity. The transfer may be up to $100,000 in one year and PPA 2006 provided that this option will exist for both 2006 and 2007.
What is Estate Planning?
Estate planning is a process involving your family, friends and, in many cases, charitable organizations. It also involves your assets (your property) and the various forms of ownership and title that those assets may take. Further, it addresses your future needs in case you ever become unable to care for yourself.
A living trust can be the most important part of your estate plan and can contain provisions which can postpone, reduce or even eliminate estate taxes. It provides for the private management of your assets when you are unable to act as trustee yourself. When you are incapacitated, your trustee can assume responsibility for your assets and manage them for your benefit without court intervention. At your death, the trustee acts much as an executor would, gathering your assets, paying debts and taxes, and distributing your assets pursuant to your wishes.
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Join Senior Relationship Manager Joe Anderson, CFP® and Director of Tax Consulting, Alan Clopine, CPA as they discuss today's top financial concerns. |
Tell your friends and family to listen to Centara on the radio each Saturday morning from 10:00am to 11:00am only on Newsradio AM600 KOGO. Listen to archived shows here.
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| Archived Newsletters | |
| Did you miss a previous issue of the Centara newsletter? Don't worry, archived issues from the last year are now available. | |
| Q3 2007 Newsletter | |
| Q2 2007 Newsletter | |
| Q1 2007 Newsletter | |
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