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.

A warranty makes sense for big-ticket purchases, but what about for a home?

An Overview of Home Warranties

A home warranty typically covers the repairs on specific items in a home, such as heating and air conditioning systems, plumbing, and built-in appliances.¹

A home warranty on a newly built home may be offered by the homebuilder and may cover up to 10 years on structural defects; one year on items like walls and paint; and two years for HVAC, plumbing, and electrical systems. Appliances may only be covered for six months. Typically, the cost of this policy is contained in the price of the home.

A home warranty on an existing home can also be purchased, usually paid for by the seller or real estate agent to facilitate the sale of a house. These policies tend to have coverage lasting no longer than one year.

Occasionally, a home buyer may choose to purchase a policy, for instance, in the case of buying a foreclosure.

Be Realistic

You should understand the limits to which a home warranty can protect you. A home warranty promises you that certain items will remain functional; it does not promise you a new appliance or furnace.

Though it may be comforting to know repairs are covered, a warranty may restrict the contractors you can use to do the repair work.

A home warranty may be most beneficial to someone who will be purchasing an older home.

If you elect to buy a home warranty, make sure you work with a reputable company that has a long-standing record in your local area. And as always, be sure to comparison shop.

1. Several factors will affect the cost of a home warranty policy, including the size, location, and contents in the home. Any guarantees associated with a home warranty policy are dependent on the ability of the issuing 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.

They wake up, and there’s nowhere to be. No commute. No quick check of the inbox before coffee. Just a quiet morning that’s all yours to enjoy however you wish.

At first, that quiet can feel wonderful. After years of deadlines and responsibility, maybe even a relief.

And then, somewhere in those first few months, another thought creeps in:

Now what?

It’s a more common phenomenon than you might expect. Research shows that retirement is much more than a schedule change. For many people, it’s an identity shift. You’ve spent years being known for what you do. When that role changes, it’s natural to feel a little unsteady.¹

That doesn’t mean something is wrong. It means you’re just adjusting to your new schedule.

The first year of retirement isn’t about filling your time; it’s about finding your rhythm.

The “Honeymoon” Phase (and What Comes After)

Some retirees describe the first few months after retirement as a “honeymoon phase,” during which they focus on travel, projects, and catching up on rest. After the honeymoon glow wears off, many begin asking deeper questions about how they want to spend their time and energy.¹

It’s not only normal to ask those questions, but necessary. Our careers give us more than income. They provide structure, social interaction, and a sense of purpose. When that structure is no longer part of your daily routine, it can be difficult to fill the gap.

Over time, most retirees begin building new routines around things they find meaningful. That might mean volunteering, mentoring, traveling, learning something new, or simply spending more time with family. Research shows that adults age 65 and older spend more hours each day on leisure and personal activities than working-age adults. That’s not just “free time.” It’s an opportunity.²

Income Feels Different in Retirement

One of the biggest adjustments in the first year is how income arrives.
For decades, income likely showed up as a paycheck.

Many retirees don’t expect how spending feels emotionally in retirement. Even when income sources are stable, transferring money from savings can feel more eventful than it did during working years. After decades of being encouraged to save, the shift toward spending can take practice.

It can help to separate essential expenses from flexible ones. When you know your core needs are covered, the rest becomes a series of intentional choices rather than a source of worry. Over time, confidence often grows as retirees see that their financial approach is working as intended.

The good news? The first year gives you space to observe and adjust.
Spending patterns often settle once retirees see what everyday life actually looks like.

It’s not about getting everything perfect immediately. It’s about building confidence over time.

What Do You Do With 40 Extra Hours?

Social connections can shift, too. Work friendships naturally evolve, which makes room for new communities through volunteering, clubs, travel groups, continuing education, or faith organizations.

Volunteering is especially common in retirement. In fact, more than one-quarter of adults age 65 and older report volunteering in a given year. For many retirees, it’s not just about giving back. It provides structure, social connection, and a sense of purpose.³

Travel is another goal many retirees revisit. Some take multigenerational trips. Others explore slower travel or finally visit places they’ve postponed for years.

And sometimes, retirement isn’t about big ideas at all. It’s about simple things. Reading more. Gardening. Taking a class. Returning to an old hobby.
Another common experience in the first year is something few people talk about: decision fatigue.

When you’re working, much of your day is mapped out for you. In retirement, that structure disappears. Suddenly, it’s up to you to decide what today looks like. And tomorrow. And next month.

That freedom can feel overwhelming at first.

Some retirees find it helps to build a routine into the week. Maybe that’s volunteering every Tuesday. Meeting friends for lunch on Thursdays. Taking a class that gets you out of the house once a week, or setting aside certain mornings for exercise or hobbies.

It’s not about maintaining a rigid schedule, though; it’s about creating something to look forward to. That excitement for the next day is what helps make retirement feel grounded.

The Practical Side of Year One

Along with emotional and lifestyle changes, the first year is a practical reset. Many retirees use this time to:

• Review estate documents
• Confirm beneficiary designations
• Revisit healthcare directives
• Evaluate insurance coverage
• Understand the pros and cons of various income sources

Financial professionals can help clients think through income coordination. Tax-specific questions should always be discussed with a tax, legal, or accounting professional, and legal updates should be addressed with an attorney.

Healthcare coverage is another area to review, especially when making decisions about extended care.

Giving Yourself Permission to Enjoy It

After years of saving and preparing, some retirees feel hesitant to spend.
That’s understandable. Shifting from a saver’s mindset to spending intentionally can take time.

But retirement isn’t just about managing money. It’s about using it to support the life you want to live.

Life expectancy data suggests that many retirees can expect to live for decades in this next chapter, which means you’ll need to take time to think carefully about your financial decisions.⁴

If you’re in your first year or approaching it, consider asking yourself a few simple questions:

• What am I ready to let go of?
• Where do I want to feel useful?
• Where do I want to feel rested?

You don’t have to answer them all at once. Retirement unfolds in stages, and as spending and routines settle, uncertainty often fades.

The first year of retirement isn’t a test. It’s a transition. And it’s okay to take it one step at a time.

1. AARP, May 28, 2025.
2. U.S. Bureau of Labor Statistics, 2024 Annual Averages
3. U.S. Bureau of Labor Statistics, 2024 Volunteering Data
4. OECD, N.D.

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<script type=””>document.write(new Date().getFullYear())</script>FMG Suite.