Stivers Law

June 28th marks National Insurance Awareness Day. Here are a few tips to keep in mind: 1?? Periodically review your life insurance. As your wealth grows, it may put more demands on your life insurance coverage. Does your policy adequately reflect your current net worth? Would it support your family's lifestyle in the event of the unexpected? Remember, several factors affect the cost and availability of life insurance, including age, health, and the type and amount of insurance purchased. Any guarantees associated with a policy are dependent on the ability of the issuing insurance company to continue making claim payments. 2?? Check your umbrella liability insurance. These policies extend over your existing limits and coverage provided by other policies, such as your car and homeowner's insurance. Much like life insurance, the cost and availability of an umbrella policy will depend on a variety of factors. Any guarantees associated with a policy are dependent on the ability of the issuing insurance company to continue making claim payments. 3?? Don't overlook disability insurance. One of your greatest assets is your ability to earn an income. Disability insurance can replace a portion of your income if you become unable to work due to covered illness or injury. A financial professional may be able to help you compare different policies because not all policy types and product features are available in all states. Remember, any disability obligations are dependent on the ability of the issuing company to make claim payments. 4?? Consider insuring your valuables. You may have unique valuables, from fine art to jewelry, that require specialized insurance coverage. #NationalInsuranceAwarenessDay #FinancialStrategy #Insurance #CoverageReview

??Ever read a text from someone and realized days later you forgot to reply? ?? Just learned…. After you read it, swipe right on the text, and it will be marked again as unread, making it easier to remember to respond later. Some other "Did You Know" iPhone tips that might be helpful: ?? Most social media sites strip out metadata revealing when, where, and how a picture was taken, but not when you text it. So, to remove this when you text, hit "options" at the top of the image you are sharing and then click to turn the location off. ?? Go to the Health App and set up your Medical ID and Emergency Contacts so first responders can access critical medical and contact info from your phone even when it's locked. Were any of these new for you? Any other tips you have are welcome! ???? #iPhoneTips #TechHacks #EmergencyPreparedness

Warren Buffett's hiring advice is a powerful reminder. His wisdom extends beyond hiring an employee—it can be especially crucial when choosing a financial professional. Integrity is a key part of the foundation of a relationship that focuses on personal finances. Buffett's words serve as a guiding light: Surrounding yourself with people who embody integrity is one key to success. ?? #Integrity #FinancialStrategy #WarrenBuffett #WiseWords

?? Introducing one of our favorite team members on #BringYourDogToWorkDay Dogs truly are the best coworkers—their unconditional love never fails to boost morale.?? Thanks for keeping us all smiling! #BringYourDogToWorkDay #Pets #Dogs

?? During your financial journey, attempting to avoid common IRA mistakes can help as you pursue your goals. Let's dive in: 1?? Not keeping up with new RMD rules Required minimum distributions are how the IRS collects taxes from tax-deferred retirement plans. Before 2019, RMDs began in the year you turned 70?. In 2019, the SECURE Act raised the RMD age to 72, and SECURE Act 2.0 raised the RMD age to 73, and by 2033, age 75. Remember, withdrawals from traditional IRAs are taxed as ordinary income and, if taken before age 59?, may be subject to a 10% federal income tax penalty. 2?? Not seeking guidance on new Inherited IRA rules Another provision of the SECURE Act includes a new 10-year distribution period, effectively eliminating the "stretch IRA" strategy, which allows beneficiaries to take distributions over their lifetime. There are some exceptions, but the new rule has prompted some to review their estate strategy. 3?? Maintaining multiple Traditional IRAs and rollover accounts If you have multiple IRAs, the IRS treats them as a single IRA under the "aggregation rule." When computations for taxes or distributions are made, the combined value of all your Traditional IRA accounts has to be considered. Keeping track of them is critical. We're on this journey together. If you would like to review your retirement strategy, do not hesitate to contact us. ?? #FinancialFreedom #SmartSaving #IRAInsights #RetirementReady

Summer's here at last! ???? Who can resist the long sunny days, cozy nights, breathtaking sunsets, and the laid-back feel of summer? Maybe you're sparking up the barbecue, planning a beach day, or simply enjoying a drive with the top down, all while making lasting memories. If a getaway is on your to-do list, consider the charm of mid-week travels. Take advantage of the local offerings, such as private guided hikes, exclusive park tours, and special community events. These can add a touch of luxury to your itinerary without the crowds. Make the most of this awesome season! #Summer #Travel #UpscaleVacation

Today, we commemorate Juneteenth, a pivotal moment in our nation's history in the battle against slavery. It's a day of reflection, education, and celebration of the progress made while acknowledging the work still to be done. It symbolizes freedom, which extends beyond the political and social realms. As we celebrate Juneteenth, let's also strive to empower ourselves and our communities with the tools and knowledge necessary to continue the fight for equality on all fronts. #Juneteenth #FinancialIndependence #Freedom #Equality

Did you know? Stivers Law has merged into Trust Counsel! Get to know our new home by following Trust Counsel, P.L., Estate Planning, Tax, & Asset Protection Attorneys and our managing partner Leslie Marenco. Curious where else you can find us? Follow us on: Facebook: https://bit.ly/4bLrP7P Instagram: https://bit.ly/3VwCq11 YouTube: https://bit.ly/4aWKSe5 Our website: www.trustcounsel.com We look forward to continuing to serve you and your loved ones. ?????????? Stay tuned for more updates.

? In a strategic move aimed at elevating estate planning and business succession services, Trust Counsel, P.L., Estate Planning, Tax, & Asset Protection Attorneys and Stivers Law have joined forces to offer comprehensive solutions to clients navigating complex legal matters. Why Trust Counsel? Justin has known Leslie Marenco, the founder of Trust Counsel, P.L., for almost as long as the firm has been established. He deeply admires Leslie's work and is impressed by the growth of her firm from a one-person operation to a team of 30 individuals. Witnessing this growth has been truly inspiring. This led Justin to engage in discussions with Leslie several months ago to explore the possibilities of collaboration. From their initial conversations, it became evident that this partnership would be beneficial, aligning with the cultures of both firms and providing enhanced services for our clients. Justin recognized the numerous resources and opportunities available through Leslie's team, making the decision to merge an easy one. More details and logistical information will follow, but as of May 15, 2024, Stivers Law has merged with Trust Counsel, P.L.! We're immensely excited about this new chapter. Do you have any questions? Feel free to ask in the comments; we're here to provide all the details about this exciting partnership.