The Consulate Journal

The Consulate Journal is our written blog, dedicated to educating our audience on a wide range of topics.  Sometimes we’ll be sharing our financial planning philosophies, and other times sharing our views of money and its place in our lives.  Most often, we’ll be sharing specific and actionable financial planning strategies that we use with our clients. 

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The Tax Withholding Paradox

May 1, 2018

It is true that most people will see their income tax rates lowered in 2018, but is it possible that despite having their rates lowered, some may actually owe more in income tax? The answer, unfortunately, is yes, given that…

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Beneficiary Conundrum

February 7, 2018

Most people do not realize the power of beneficiary designation: Your beneficiary designation may result in family members becoming disinherited, or the government may restrict the amount of funds designated to an 18-year-old heir. A few examples of what to…

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The Value of a Fiduciary

May 20, 2017

There has been much in the news about fiduciaries recently given that the Trump administration may be considering the delay or repeal of the Department of Labor’s proposed fiduciary rule. As with most news features, it can be difficult to…

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Financial Services: The Next Evolution

February 17, 2017

The personal financial services industry is going through a major metamorphosis for the better, and it is creating a true profession. At present, the overwhelming majority of the financial industry is sales- and relationship-driven. The majority of advice that financial…

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How to Plan for your Parents' Long-Term Care Costs

July 15, 2016

Could you be on the hook for your parents’ long-term care expenses? The answer is YES! In about 30 states, including Pennsylvania, there are laws called filial reasonability or filial support laws, which may obligate children to help defray their…

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Roth IRA Conversions—When Should I Convert?

March 22, 2016

Individual Retirement Accounts (IRAs) come in two varieties—the traditional IRA and the Roth IRA. The traditional IRA allows you the opportunity to claim a tax deduction on your income tax return for contributions made to the IRA, and you must…

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The #1 Question of 2015

December 22, 2015

Every year a hot topic surfaces in the world of personal finance. In 2015, “How do I protect my identity?” has been at the top of the list. The answer normally involves paying for a monthly service to monitor credit…

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