The Tax Cuts and Jobs Act (TCJA) of 2017 significantly reshaped the American tax landscape in numerous ways, impacting individuals from all walks of life by aiming to simplify the tax code, spur economic growth, and provide relief to taxpayers. While some provisions of the TCJA were permanent modifications to the tax code, many of those affecting individuals and families were only temporary and are set to expire at the end of 2025. The expiration of these provisions may potentially to lead to higher tax liabilities for many Americans. This blog will discuss a few of the major ramifications of the sunsetting TCJA and steps individuals can take to prepare.
Financial Planning – Estate Plan Review
Your legacy is important. Make sure it’s preserved the way you intend with an Estate Plan review with your team at Vision Capital. Together, we’ll review your investments for beneficiary and contingent beneficiary designations. Revisiting these on an ongoing basis allows you to rest assured that your loved ones are thoughtfully accounted for.
Beyond the Stigma: Pre and Postnuptial Agreements
Marriage, while a joyous and celebratory occasion, should also be approached with the same touch of practicality that would be recommended when entering into any legally binding contract. Couples undoubtedly don’t wish to think about the possibility of divorce while reveling in the glow of engagement, however approximately 48% of first marriages in the United States end in divorce and the probability increases for second and third marriages.
Prenuptial and postnuptial agreements, colloquially known as pre- and post-nups, have long been stigmatized, however recent reports show that they are growing in popularity, particularly amongst younger people. Approximately 15% of Americans signed one in 2022, with 40% of those individuals being between the ages of 18 and 34. The concept of a prenup dates back more than 2,000 years ago and were most often crafted by the parents of the bride and groom to ensure that the wife would have rights to property upon divorce or the death of her husband.
How a Financial Advisor Can Help in Clarifying Your Financial Picture
Clarifying your financial picture is not just a crucial step but a comforting one in paving the way for a financially successful future. It allows you to set clear goals and effectively understand your overall finances, each contributing to a better understanding and managing your overall financial health. At Vision Capital, we know the importance of providing a well-defined, straightforward financial plan by leveraging our years of experience as Certified Financial Planners ™ and utilizing industry-leading software program eMoney Advisor. This process can bring relief and security, knowing that your financial future is in capable hands.
Navigating the Early Retirement Path: Embarking on Your Golden Years with Clarity
The allure of early retirement, escaping the daily grind for a life filled with freedom and leisure, is a powerful dream. However before taking the plunge, there are many things one should consider to increase the likelihood of a smooth transition and a secure future. This month, we’re delving into a few fundamental aspects to think about before embarking on your early retirement journey.
