Granted value

Most federal grants, unlike loans, function as sources of funding. There are some exceptions, though. For example, if a student is awarded a grant but withdraws from the program in which they’re enrolled, they may be required to pay back all or a portion of that grant.²

Know your grants

The Department of Education offers multiple aid packages as part of the Federal Student Grant Program. The following three are granted most often, and each has different requirements for eligibility. The information below applies to the 2026-2027 academic year:

• Federal Pell Grants – With a maximum award of $7,395, Pell Grants are reserved for undergraduate students who have exceptional financial need and have not earned a bachelor’s, graduate, or professional degree yet.²
• Federal Supplemental Educational Opportunity Grants (FSEO) – FSEO Grants award a maximum of $4,000 to those who demonstrate exceptional need and have not yet earned a bachelor’s or graduate degree. FSEO Grants also give priority to Pell Grant recipients over other applicants.²
• Teacher Education Assistance for College and Higher Education (TEACH) Grants – TEACH Grants award a maximum of $4,000, and they’re reserved for students who are enrolled in teaching preparation programs and agree to teach for a minimum of 4 years at the elementary or secondary school level in a high-need field.²

FAFSA Required

No matter who you are or your financial situation, you may want to consider submitting a FAFSA. After all, the grants listed above do require recipients to have an application on file with the Department of Education. And who knows? The potential financial benefit that you could secure may surprise you.

1. NCAN.org, 2026
2. StudentAid.gov, 2026 The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG, LLC, is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.

For most homeowners (and renters), a standard policy generally covers any legal liability that may result from their dog biting or harming another individual. Typically, this coverage is designed to extend to places outside the home (e.g., a walk in the park), but may not include what happens inside a car.²

However, this coverage is not unlimited. There is a cap to liability coverage (check your policy for the limits of your coverage), and your policy may limit such coverage to one bite.

Canine Considerations

Many insurers may either cancel the policy or add a canine exclusion after paying such a claim, which means that you will be responsible for all damages in the event of a second bite.

Some policies exclude certain dog breeds from the outset, so be sure to review your coverage to ensure that your dog is not among the excluded breeds.

Also, be aware of a business exclusion that may not pay on claims arising from a dog bite that occurs while you are conducting business in your place of residence.

Finally, it is important to let your insurer know if your dog bites someone or is declared dangerous under local law. Failure to inform them may affect liability coverage for subsequent injuries caused by your dog.

1. III.org, April 10, 2026
2. The information in this material is not intended as legal advice. Please consult legal or insurance professionals for specific information regarding your individual situation.

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.

Donating appreciated securities to a tax-qualified charity may allow you to manage your taxes and benefit the charity. If you have held the stock for more than a year, you may be able to deduct from your taxes the fair market value of the stock in the year that you donate. If the charity is tax-exempt, it may not face capital gains tax on the stock if it sells it in the future.¹

Keep in mind this article is for informational purposes only. It’s not a replacement for real-life advice. Make sure to consult your tax and legal professionals before modifying your gift-giving strategy.

There are several reasons to consider donating highly appreciated stock to a tax-exempt charity. For example, you may own company stock and have the opportunity to donate some shares. There also are potential tax benefits to consider if you donate appreciated securities that you have owned for at least one year.

If you sell shares of appreciated stock from a taxable account and subsequently donate the proceeds from the sale to charity, you may face capital gains tax on any gain you realize, which effectively trims the benefit of cash donation.¹

When is donating cash a choice to consider? If you provide the charity with a cash gift, there may be some limitations. Cash gifts are generally deductible up to 60% of adjusted gross income. A donor should also consider state taxes in addition to federal.²

If you donate shares of depreciated stock from a taxable account to a charity, you can only deduct their current value, not the value they had when you originally bought them.¹

Remember the tax rules for charitable donations. If you donate appreciated stock to a charity, you may want to review IRS Publication 526, Charitable Contributions. Double-check to see that the charity has non-profit status under federal tax law, and be sure to record the deduction on a Schedule A that you attach to your 1040.¹

If your contribution totals $250 or more, the donation must be recorded – that is, the charity needs to give you a written statement describing the donation and its value and whether it is providing you with goods or services in exchange for it.²

If your total deduction for all non-cash contributions in a tax year exceeds $500, then complete and attach Form 8283 (Noncash Charitable Contributions) to your 1040 when filing. If you donate more than $5,000 of property to a charity, you will need to provide a letter from a qualified appraiser to the charity (and, by extension, the IRS) stating the monetary value of the gift(s).²

Gifting cash or other assets to an organization is a wonderful opportunity. But keep in mind that tax rules are constantly being adjusted, and there’s a possibility that the current rules may change. Make certain to consult your tax and legal professionals before starting a new gifting strategy.

1. IRS.gov, 2026
2. IRS.gov, 2026 The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG, LLC, is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.

Judge Burger’s case shows that even law-savvy individuals can make mistakes when it comes to writing their own legal documents. But giving executors the proper power is only one piece of the puzzle. How do you choose an executor? Can anyone do it? What makes an individual a good choice?

Many people choose a spouse, sibling, child, or close friend as executor. In most cases, the job is fairly straightforward. Still, you might give special consideration to someone who is well-organized and capable of handling financial matters. Someone who is respected by your heirs and a good communicator may also help make the process run smoothly.

Above all, an executor should be someone trustworthy since this person will have a legal responsibility to manage your money, pay your debts (including taxes), and distribute your assets to your beneficiaries as stated in your will.

If your estate is large or you anticipate a significant amount of court time for your executor, you might think of naming a bank, lawyer, or financial professional. These individuals will typically charge a fee, which would be paid by the estate. In some families, singling out one child or sibling as executor could be construed as favoritism, so naming an outside party may be a good alternative.

Whenever possible, choose an executor who lives near you. Court appearances, property issues, and even checking mail can be simplified by proximity. Also, some states place additional restrictions on executors who live out of state, so check the laws where you live.

Whomever you choose, discuss your decision with that person. Make sure the individual understands and accepts the obligation – and knows where you keep important records. Because the person may pre-decease you – or have a change of heart about executing your wishes – it’s always a good idea to name one or two alternative executors.

The period following the death of a loved one is a stressful time and can be confusing for family members. Choosing the right executor can help ensure that the distribution of your assets may be done efficiently and with as little upheaval as possible.

What Will?

Take a look at some famous people who left without having a will in place.

1. Jimi Hendrix
2. Bob Marley
3. Sonny Bono
4. Pablo Picasso
5. Michael Jackson
6. Howard Hughes
7. Abraham Lincoln

Source: LegalZoom.com, September 1, 2023

1. Washingtonpost.com, 2023 The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.

Accept that the Parent-Child Dynamic Has Changed

Your child is always your child, and will need you as much as ever. However, parents need to understand that their role has transitioned from “supervisor” to “mentor.”

Make the Move Simple

Do not bring the moving van. Not only will it embarrass your child, but dorm rooms just aren’t that large. Bring only what’s appropriate.

Consider pre-ordering essentials (soap, bedding, shower caddy, etc.) for pick-up at a location by the school. This will save space whether your trip is by car or plane.

Don’t Leave “The Talk” to the Drop-off

While college represents a gateway to many wonderful experiences, parents will want to have a serious conversation about safety, responsible behavior, finances, and expectations about staying in touch.

Do not leave it for the drop-off. It is sure to sour the moment and may rush a conversation that deserves more time and mutual dialogue.

Time to Learn Financial Responsibility

Your child will need spending money. You may want to provide a debit card attached to an account that has a set sum for the full semester, or one that’s refreshed with monthly deposits. College is a perfect time to learn budgeting.

Take the Lead from Your Child

Let your child have the discretion to make decisions about what to bring. However important you think a dust skirt for the bed is, try to avoid fights. Let your child make a mistake. It’s the best way to learn.

Your child will likely send signals when it’s time for you to go. Listen to them. It’s time for him or her to begin connecting with new roommates. Expect that final “good-bye dinner” to be canceled since your child may prefer an impromptu introductory dinner with the new roommate.

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.

Living this long may have unexpected tax consequences. Here’s why.

Many older life insurance policies mature at a specific age. If the insured individual attains that age, the policy’s cash value may be paid out to the policy owner in lieu of a death benefit payment.³

Tracking Taxes

This payout may be taxed as ordinary income on the amount that exceeds the policy owner’s cost basis (or the sum of after-tax premiums). The after-tax amount would then become part of the policy owner’s estate and may be subject to further taxation upon the policy owner’s death.^4,5

If a policy is owned by an irrevocable trust, the trust is responsible for any tax owed, though the proceeds would not become part of the insured’s estate if the insured had no incidents of ownership.^5,6

Managing the Taxable Risk

This taxable risk may be mitigated through a maturity extension rider, which allows the policy to continue until the death of the insured. Many newer life policies come with a higher maturity age (like 120) or an indefinite period.⁷

1. OurWorldinData.com, March 2026
2. Macrotrends.net.org, 2026
3. Several factors will affect the cost and availability of life insurance, including age, health, and the type and amount of insurance purchased. Life insurance policies have expenses, including mortality and other charges. If a policy is surrendered prematurely, the policyholder may also pay surrender charges and have income tax implications. You should consider determining whether you are insurable before implementing a strategy involving life insurance. Any guarantees associated with a policy are dependent on the ability of the issuing insurance company to continue making claim payments.
4. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation.
5. IRS.gov, 2026
6. Using a trust involves a complex set of tax rules and regulations. Before moving forward with a trust, consider working with a professional who is familiar with the rules and regulations.
7. SEC.gov, 2026

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.

1. Understand the Master Policy

Since the ownership of all common areas is shared with other condo owners, the association of owners typically purchases insurance coverage (a master policy) for the common areas, e.g., hallways, exterior walls, etc. The condo association’s policy will outline what is covered and what is not.

2. Three Types of Coverage

There are three basic types of coverage under a master policy.

• Primary buildings and common areas
• Your unit and any items within your unit, other than personal belongings
• Building, unit, and any fixtures

The individual coverage you may consider depends upon the scope of coverage of the master policy. Start by determining what is and isn’t covered under the master policy – this can influence the coverage you may need.

3. Know the Master Policy Deductible

Generally, an association’s master policy has a deductible that is charged pro-rata among unit owners in the event of a claim. Determining that obligation is important because while it may never materialize, it could represent a meaningful financial commitment.

4. Consider Additional Coverage

Similar to any homeowner, you will need to make decisions about other coverage options, such as cash value or replacement coverage, adding personal liability coverage, and whether flood insurance may be appropriate.

1. Several factors will affect the cost of condo insurance, including the insurance coverage provided by the homeowners association. You should consider the amount of your deductible and level of coverage before purchasing a condo insurance policy. Any guarantees associated with a policy are dependent on the ability of the issuing insurance company to continue making claim payments.

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.

As a young investor, you have a powerful ally on your side: time. The earlier you start saving, the more opportunity your investments have to increase in value.

The power of compounding. Many people underestimate it, so it is worth illustrating. Let’s take a look at the long-term performance of an investment account using a hypothetical 5 percent rate of return.

How does it work?

A simplified example goes like this: If you were to start with a $1,000 principal in an account that earns 5 percent interest per year, and contribute $1,000 a year to the account, you would end up with $69,671 after thirty years, with $16,511 earned in compound interest from $30,000 in contributions. That compounding continues, even if you stop making deposits.¹

The 30-Year Snowball Effect

$1,000/year · 5% annual return · No starting balance

When it comes to building wealth, most people focus on how much they can save and the kinds of returns they can earn. While those are important, there is a third factor that is often much more powerful: Time.

The math of compound interest rewards those who start early, even if they save less in total than someone who starts later. To illustrate this, let’s look at two hypothetical investors:¹

The Early Starter

Contributes $10,000 a year for just 10 years, then stops entirely.

Total Contributed$100,000

Ending Balance$850,608

The Late Starter

Waits 10 years, then contributes $10,000 a year for 30 years straight.

Total Contributed$300,000

Ending Balance$888,298

Investor Balance Over Time

Hypothetical 6% annual rate of return

As you can see from the trajectories, Investor 2 spends their entire career playing “catch-up.” Even though their total balance eventually edges out Investor 1 by a small margin at age 62 ($888,298 vs $850,608), the “efficiency” of their money is far lower. Investor 1 essentially bought themselves a 30-year head start, proving that in the world of compounding, a small amount of money plus a long time is often superior to a large amount of money plus a short time.

¹ This is a hypothetical example used for illustrative purposes only. It is not representative of any specific investment or combination of investments.

What is a 530A Account and Who Can Open One?

The 530A account was introduced under the One Big Beautiful Bill Act. Accounts are available for all American children under age 18, which has been largely overlooked. The attention has been on the $1,000 federal seed money that’s for babies born between Jan. 1, 2025, and Dec. 31, 2028.^1,2

To establish the account, the minor must possess a Social Security number and be under 18 years old as of December 31 of the year the account is opened. Each child is permitted only one account.

Opening a 530A Account

Parents, legal guardians, adult siblings, or grandparents can open a 530A account for eligible children by submitting Internal Revenue Service (IRS) Form 4547. The form serves as the election to create the account.^1,2

Availability and Contribution Guidelines

530A accounts will become available in 2026, with contributions commencing after July 4, 2026. Contribution limits are $5,000 per child per year. This limit includes contributions from parents, families, and up to $2,500 from employees and other organizations.^1,2

How much could your child’s account be worth before they graduate high school?

Adjust the inputs below to see how contributions, interest, and the $1,000 federal seed impact long-term growth.

Annual contribution

$ / yr

$0$5,000 max

Assumed annual return

%

1%8% max

Include $1,000 federal seed money

Value at year 18

$166,654

Total contributed

$91,000

Growth from interest

$75,654

At these settings, interest alone adds $75,654 — money your family never had to save.

Hypothetical example. Actual results will vary.

Investment and Withdrawal Regulations

Investments must adhere to the criteria set by the U.S. Treasury Department. The account will be subject to the same required minimum distribution (RMDs) rules as a traditional IRA, which means once you reach age 73, you must begin taking distributions in most circumstances. Withdrawals are taxed as ordinary income and, if taken before age 59½, may be subject to a 10% federal income tax penalty.^1,2

Integration into Family Financial Strategy

530A accounts provide practical experience in saving and investing. Contributions from external sources, such as employers, governments, and charitable organizations, may make the accounts even more attractive.^1,2

Can it be converted to a Roth IRA?

Yes. The initial guidance indicates a Roth IRA starting in the year the individual turns age 18. Once the Roth IRA is open, the new account could have decades of tax-free growth from the money that was originally placed in the account.

Remember, the original Roth IRA owner is not required to take minimum annual withdrawals. Plus, Roth distributions must meet a five-year holding period and occur after age 59½ to qualify for the tax-free and penalty-free withdrawal of earnings. In certain other circumstances, tax-free and penalty-free withdrawal can also be taken, such as following the owner’s death.

“Trump accounts” may not be right for everyone, but they may be worth exploring. Let’s discuss what role a 530A account can play in your future.

1. IRS.gov, December 4, 2025
2. House.gov, March 31, 2026 The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.

As a business owner, ascertaining the value of your business is important for a variety of reasons, including business succession, estate tax estimates, or qualifying for a loan.

There are a number of valuation techniques, ranging from the simple to the very complex. Outlined below are three different approaches to valuing a business.

1. Asset Based: Calculates the value of all tangible and intangible assets held by the business. This approach ignores the future earning potential of the company. Thus, a pure asset-based valuation model is often used for companies that are bankrupt or looking to liquidate.
2. Earnings Based: Seeks to arrive at a business’ value by applying a multiple to normalized earnings, i.e., earnings adjusted to subtract owner’s compensation and related expenses. The multiplier can vary substantially, depending upon the industry and the outlook for the business.
3. Market Based: Compares the business to recent sales of similar companies.

Business valuation is not just a formulaic exercise. For instance, there is a value to the business of being a “going concern” as opposed to the start-up alternative. Ownership percentage will also matter; purchasing a minority share that has limited control may result in a discount to the actual value. The prospects for the business can impact its value. A greater premium will likely apply to a company engaged in a leading-edge technology than it would to one involved in a mature market.

Valuing a small business is not an exact science. Some aspects of the valuation may be debatable (e.g., the remaining life expectancy of a machine), while other aspects may be positively subjective (e.g., the value of the company’s reputation).

Willing Seller & Buyer

The true value of anything can only be determined when a willing seller and a willing buyer agree on a price of exchange. As a consequence, any valuation exercise may yield only a rough estimate.

Before moving forward with a business valuation, consider working with legal and tax professionals who are familiar with the process. Also, a qualified business appraiser may be able to offer some valuable insight.

1. BizBuySell.com, May 2025 The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.