Trusteed IRAs

IRAs can often end up being a very large portion of your estate that immediately transfers at death to the listed beneficiaries. If you have concerns that transferring a large amount of funds to an heir that is not as responsible as you might have hoped for or if you hope to spread the distributions out over a very long period of time, there are options available to you.

This article addresses one of the vehicles you can use to match your estate in a manner that best fits your legacy. Controlling IRAs from the grave is challenging, but certainly possible using fairly simple or very complex trusts. It is important we work with your attorney or one from our professional alliance to make sure your estate is properly set-up to match your legacy desires.

Click here to read full article.

Holiday Traditions

We love decorating for the holidays so our tradition is to have our long-time friend Marc over for Thanksgiving dinner and spend the rest of the weekend decorating for the holidays. Rocke smokes a turkey breast on the Big Green Egg and we stuff a turkey as well, leaving many leftovers for everyone.

Rocke and I are spending our thirty-fifth holiday together and over the years our holiday traditions have changed. When we were first together we spent Thanksgiving with Rocke’s family and Christmas with mine. When Rocke’s mother passed away the tradition changed. We called my parents to see if they would like to join us for Thanksgiving, but were rebuffed with, “we now have our own tradition of lobster for two.”

We have spent the last several years remodeling our kitchen and living room and this year we changed our holiday decorations colors to match the new look. We pulled apart over a hundred white silk poinsettias; spray painted the white parts red and put them back together again. It was a great deal of work but we were pleased with the final result. Once they are done it is only a matter of pulling them from the boxes and hanging them up. It was fun coming up with the new look but we hope to not to have to do it again within the next decade.

RockCandy Favorite Recipes: Root Vegetables Gratin with Gruyère

Thanksgiving dinner is the time we pull our winter recipes out and one of our favorites is this gratin. It is extremely rich so we often make a half a recipe and only use a 9X9-baking dish. It also freezes well after baking, so you can vacuum pack servings sizes to freeze and then enjoy with future meals.

Click here for Recipe.

14% to 17% Ten Year Annualized Returns

When you look at the 10-year rolling returns for the S&P 500 from 1926 to 2009 you will see that the recoveries following the last major corrections were followed by a 20 year period of 14.86% annualized returns and a 26 year period of 17.19% annualized returns. We do not know what tomorrow may bring, but history shows that optimism for the future is not an unreasonable position.

The Small Business Jobs Act of 2010

On September 27, 2010, President Obama signed into law the Small Business Jobs Act of 2010. The legislation contains provisions designed to ensure adequate access to credit, and contains targeted tax relief for small businesses. The Small Business Jobs Act of 2010 includes increased IRC Section 179 expensing limits, "bonus" first-year depreciation, changes to treatment of small business stock, general business credit, and health insurance costs of self-employed individuals.

Click here to read a summary of key items.

Grand Super Cycle

This chart of the Dow Jones Industrial Average Index from the year 1900 to 2010 illustrates the Grand Super Cycle, where markets exhibit a long period of a flat to declining returns that is often followed by a period of healthy performance. Since 1900, there have been four such periods, with the current one being the worst. Taking a step back further into time, since 1835, there have been only six other roughly comparable episodes. After the prior down phases, stocks averaged 13% per year gains over the subsequent decade. History suggests that those who stay the course will be rewarded.

Going Global

The world has gone global. In 1970 the global market cap was 9.3 trillion with the U.S. making up 66%. With major advances in communications, transportation, trade barriers and improvements in global financial accounting standards the world has grown to $22.6 trillion in market cap with the US percentage dropping to 43% of the total.

Click here to read the full article.

RockCandy Favorite Recipes: Grilled Pork Chops with Apple Pomegranate Sauce

This recipe was created by Executive Chef Danny Lane of the Town Point Club in Norfolk, Virginia. It is an absolutely outstanding recipe and has easily found its way onto our list of favorite recipes. Enjoy!

Click here for Recipe.

Leaving Your Legacy: Build up your wealth, your family from the heart

Legacy planning is more than passing your wealth on to the next generation, it is "passing your story, values, and wealth" on to the people and organzations that you care about. In the October 2010 issue of the Kirkland Reporter, Professional Alliance member, Alan Pratt, was featured for his expertise in legacy planning. The article, "Build up your wealth, your family from the heart" discusses legacy planning and its effects on multi-generational wealth.

Click here to read the full article.

Fiscally Responsible Pumpkin

My parents are blessed with a wonderful neighbor whose parents originally built the home they live in. The children that now occupy the old homestead are continuing to instill fiscal responsibility in their children by keeping family tradition alive. To this family, pumpkins are more than an ingredient in pumpkin pies and the medium for sculpting jack-o-lanterns. They are a lesson in patience, hard work and fiscal rewards. The family’s daughters are responsible for planting and caring for the pumpkin patch and in the fall they haul the pumpkins out to the road and sell them: they get to keep the proceeds.

Last month when I was in Yakima visiting my parents the annual pumpkin sale was on. This time, it was the granddaughters that were offering up six bins of pumpkins that sold out in a couple of hours. The family’s tradition lives on and I could not resist purchasing a few pumpkins to make into jack-o-lanterns to greet the many trick-or-treaters that live in my Ballard neighborhood. I am sure the rewards for these girls’ hard work is much sweeter than any trick-or-treat candy they may have received on Halloween.

2011 Tax Changes At-a-Glance

A host of tax provisions enacted in 2001 and 2003--commonly referred to collectively as the "Bush tax cuts"--expire at the end of the year. While it's possible that new legislation could extend some or all of these expiring tax provisions, election-year politics make it difficult to predict what action, if any, Congress will take. With that in mind, here's what you need to know about the major changes that are scheduled for 2011.

Click here for details.

Health Care Reform - Fact versus Fiction

The health-care reform legislation that passed earlier this year was incredibly broad in scope, so it's probably not surprising that there's a good deal of confusion, and a number of false or misleading claims being circulated. Here's the truth behind two of the claims that have gained the most traction lately.

Click here for details.

CLASS Act

Professional Alliance member Sean Bleck shared the following information with us on the CLASS Act, a new payroll deduction for long term care coverage.

The health care reform legislation that was enacted March 23, 2010, included a novel public insurance model to cover some of the cost of long-term care for qualified participants. The program is called The Community Living Assistance Services and Supports Act, but is universally referred to as the “CLASS Act.” Both widely heralded and savagely maligned, this program would create a trust fund from voluntary payroll deductions. After 5 years, participants who need long-term care could draw $50 to $75 per day, adjusted for inflation, for as long as they need long-term care.

Click here for more information.

Refinancing with a HARP Loan

With 30 year mortgage rates closing in on 4% there has been a strong demand to refinance. However many homeowners have not been able to without high fees due to the decline in their property’s value. In response, the government created a program called the Home Affordable Refinance Program (HARP) which is available to homeowners whose loans are owned by either Freddie Mac or Fannie Mae, or approximately 95% of outstanding loans. The program allows you to refinance without mortgage insurance at today’s competitive rates and is most advantageous to those with high credit scores, a reasonable debt to income ratio, and a loan to home value of less than 93%.

Now for the caveats. The government is involved and the process is said to be slow and full of speed bumps. There is the risk that the process will get held up causing your loan lock to expire without the refinance going through. However the HARP loan is worth consideration for those who have already explored other options.

To determine if you are eligible, go to the Making Housing Affordable website and look up your property on the Freddie Mac or Fannie Mae website. If you have additional questions contact Professional Alliance member Conrad Wouters at (206) 325-8400 or conrad.wouters@legacyg.com.

Curry Salmon Patties with Mango Salsa

This recipe has a unique blend of flavors to get your palette dancing. Enjoy!

Curry Salmon Patties with Mango Salsa

Personal invite to Goodwill's Glitter Gala

Please join Rocke and me at this year's Goodwill Glitter Gala on Thursday November 4th at 6 pm. It is a great party with a very entertaining fashion show put on by the Art Institute of Seattle using clothing from donations made to Goodwill. The silent auction are also items found in Goodwill donations. They have incredible jewelry and art pieces available at the silent auction. No live auction, just dinner and the fashion show followed by wonderful dance music.

The cost is $125 per person and Rocke and I will provide the wine for the evening. During the event there are three other opportunities to support the wonderful work at Goodwill: buy raffle tickets, give a donation during the "ask for donations" or purchase a centerpiece.

Please register at the Glitter Gala webpage and let us know if you will be joining us so we can have enough wine for the merriment. This is one of our favorite events and a great cause. We hope you will be able to join us.

Doing the Math Behind Leveraged and Inverse ETFs

Leveraged and inverse ETFs have become increasingly popular, particularly as hedging vehicles. Investors should beware of the potential perils of holding leveraged or inverse Exchange Traded Funds (ETFs) over long periods of time.

Click here to read this article.

Beginning Stain Glass

My mother has created stain glass pieces for many decades. I would occasionally help her with designs or cutting glass but never completed a piece on my own. Over the years she has accumulated many scraps of brightly colored glass. I have no idea where the inspiration came from but I decided I wanted to do a stain glass Bozo the Clown using some of those scrapes. My girlfriend Sharon Strong loves clowns and if it was a success I knew she would enjoy the piece. It took many trips to Yakima to complete the piece in Mom’s stain glass studio. I learned a great deal and although my techniques were less than perfect, from a distance it didn’t look that bad.

My next inspiration was a wonderful sunset my husband and I witness when we visited his brother in Molson, Washington. I replicated a section of the sunset in the same mosaic style. The fun think about stain glass is as the light changes the work takes on a completely different look, much like a real sunset.

Now I am hooked on creating more pieces so we spent the summer converting a storage area at the back of our house into a small stain glass studio. We hope to have it done this week. I don’t know where the next inspiration will come from but once I start sorting the bright colored glass pieces hopefully a masterpiece will emerge.

Should You Worry about Your Parent's Forgetfulness?

Have you noticed that your parents repeat the same old stories? Do you worry that they are forgetting to take their medication? Some changes with memory are normal with age but many adult children wonder if they should be more worried about their parents' forgetfulness. Professional Alliance member, and Geriatric Care Manager, Lisa Mayfield has compiled a list of red flags that may indicate that something more than normal memory loss is going on.

Click here for the full list.

Single vs. Multi: Do multiple asset classes help smooth out your ride?

Investing in a single asset class is risky when you consider no one asset class consistently outperforms on a regular basis. Don't play the guessing game with your financial future.

Click here for full information piece.

Are you the Average Seattle Coffee Drinker?

If you are a Seattlite, odds are you spend almost twice as much on designer coffee than residents of the next highest consuming city. Based on mint.com's analysis, Seattle users spent on average $674 on coffee in 2009. Las Vegas came in second averaging $391 per person for a cup of designer coffee.

Source: Journal of Financial Planning - August 2010

RockCandy Favorite Recipes: Veal Stuffed Kohlrabi

The old world sure knew how to cook. This dish was a favorite dish in Hungary in the 60’s. Kohlrabies are one of our favorite vegetables both peeled and sliced raw with ranch dressing or salt or cooked into the delightful old recipe that follows. The hard part is finding fresh kohlrabi; we have it easy because Candy’s mom, Fran Sweesy, grows them for us in her garden in Yakima.

Click here for Recipe.

Specialists Outperform Generalists

When it comes to specific assignments, specialists typically outperform generalists. Consider the 2008 Beijing Olympics, when we compare the performance of the gold medal-winning decathlon champion with the individual event champions, the individual specialists won every time. Why should investing be any different? A manager skilled at managing investments in U.S. equities won't necessarily be best at managing a global bond portfolio. Russell not only combines multiple specialists in simple packages, but they constantly monitor their performance. We think it's an approach worth championing!

Click here for the full informational piece.

Estate Planning for Medicaid and long-term care

Check out Professional Alliance member Sean Bleck’s article in the July 16-22 Puget Sound Business Journal for good tips on estate planning for Medicaid and long-term care. If you subscribe to the Puget Sound Business Journal you can read the full article here. If you would like us to send you a copy of the article send us an e-mail to nick@candyjlee.com.

Landmark Financial Reform

On July 21, 2010, President Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The provisions are designed to help prevent problems that led to the 2008 financial crisis from recurring. In some cases, the legislation enacts specific measures; in others, it authorizes the creation of regulations that will be determined in coming months.

Click here to read the full Article.

Reverse Mortgages Look Better

Check out Wall Street Journal's article on reducing finance costs. PA member Conrad Wouters offers reverse mortages and is available to answer your questions in this area. They are often an attractive last option to increase income for those individuals with depleting income. The longer in life you wait to take out a reverse mortgage the better.
Click here for the Wall Street Journal Article.

Pre-existing Condition Insurance Plan

The U.S. Department of Health and Human Services has initiated the Pre-existing Condition Insurance Plan (PCIP) (part of the health-care reform legislation). PCIP provides health insurance coverage to individuals who have been unable to receive health insurance for at least six months, due to a pre-existing medical condition. PCIP is expected to last until 2014, at which time health insurance providers will no longer be able to deny coverage to individuals based on their health (medical underwriting).Twenty-nine states plus the District of Columbia will run their own plans, while the remaining states' PCIPs will be administered by the federal government. The cost of insurance under the PCIP is not based on health or income and is expected to be comparable to rates in a state's commercial market. Uninsured individuals can get more information from the government's new website, http://www.healthcare.gov/.

Interest Rates Drop Slightly on Some Federal Student Loans

If you have more than one variable rate federal student loan, you may be able to convert your variable interest rate to a lower fixed interest rate loan under the government's loan consolidation program.

Click her for full article.

RockCandy Favorite Recipes: Fig, Prosciutto and Gorgonzola

As tasty as it is beautiful, this first course combines elements from the craddle of civilization infused with the personality of Italian prosciutto and gorgonzola. Enjoy!
Click here for Recipe.

Betting on the Bad Guys

The creator of Dilbert, Scott Adams’ article in the Wall Street Journal shares his special way of looking at investments. He shares his humors insights into putting your money on the companies you hate most. We agree with Mr. Adam’s who reminds you to ignore his investment strategy.

Click here for the Wall Street Journal Article.

Drive: The Surprising Truth About What Motivates Us

It’s not always about the money. This is an eleven minute entertaining and educational YouTube video. Humans are indeed complicated creatures and the more you understand your emotional triggers the better investors you can be. It is your positive or negative behavior triggers, not market moves, which have the biggest impact on your long-term investments returns.

View YouTube video!

Grilled Bratwurst with Bing Cherry Sauce, Goat Cheese Mashed Potatoes & Arugula Salad

Time is limited on this recipe. It is our once a year seasonal favorite. Fresh Bing cherries are only available for about a month around June each year.

Click here for the recipe.

Elder Rage - Or Take My Father...Please!

Many of our clients are facing the issues that come with the aging of their parents and friends. Often the most surprising is the personality change to one of rage or a “Jekyll & Hyde” type persona. Jacqueline Marcell’s book, Elder Rage is an engaging insight into what she discovered about dealing with Alzheimer’s and is filled with flashes of humor about the journey.
Lisa Mayfield, Geriatric Care Manager has shared with us a list of books she recommends for more insight into Alzheimer’s, Dementia and care giving.

Mortgage Rates Near 40 Year Lows

Recent financial events have created some of the lowest mortgage rates we have seen in years. Professional Alliance member, Conrad Wouters relayed to us on June 1, 2010 that he had access to a conforming 30 year fixed rate of 4.75%, and a Five Year ARM rate was just 3.75% both with zero points.

Click here for more information.

RockCandy Favorite Recipes: Blackened Halibut with Remoulade

In this dish the mild, sweet taste of halibut is enboldened by a cajun seasoning and balanced wonderfully with a creamy mayonnaise-based sauce. Bon Appetit!

Click here for recipe.

The Big Short

There are not many books I read about the securities industry where the majority of you would every make it through the first chapter, but Michael Lewis’ new book, The Big Short: Inside the Doomsday Machine, is as exciting as it is educational. The book chronicles the lives of a few individuals who saw the housing crash coming and made huge bets against subprime loans.


Mr. Lewis’ first best seller, Liar’s Poker covered a period of time back in the 80s when creative securitization of bonds emerged. The bond world is so surreal, yet Lewis was able to colorfully introduce the reader to the Darwinian world of the bond market and accurately conveys the real world of the institutional bond market no mater how unbelievable it might seem. Truth is indeed stranger than fiction.

Residential Real Estate Short Sales

You may know of someone having to deal with a mortgage that is in excess of the value of their home and needs to sell. Chuck Reiling, a local realtor, has written an excellent summary on the basic options available to individuals in that situation. Please feel free to contact him if you would like more in-depth information.
Click here to read the full article.

Health-Care Reform: High-Income Individuals Face New Medicare-Related Taxes in 2013

These new taxes target high-income individuals and families. While details and clarifications will become available between now and 2013.

Click here to find out what you need to know.

Professional Alliance member Victoria Trigg, owner of AMICK TRIGG LLC provides tax advice and tax return preparation for individuals and Neil Larson, owner of Edwin Lane Financial Services LLC provides tax, financial and business planning to high net worth individuals and the closely held businesses they control. Both of these skilled professionals keep our planning team up-to-date on pertinent tax issues and have helped many of you in the past.

Health-Care Reform: Considerations for Seniors

The enactment of the new health-care reform legislation contains some provisions that directly affect our nation’s older population.

Click here for more information.

Medicare, medical supplemental insurance are complicated and are getting even more so with the new health-care reform. We are pleased that we can turn to our Professional Alliance member, David Johnson, co-owner of Lehmann Wood Johnson, Inc. for insight into this complicated world. David has worked with many of our clients helping them understand their medical supplemental insurance and long-term care insurance options.

Candy’s Mom, Fran Sweesy, honored as 2010 Zontian of the Year!

The Yakima Valley Zonta Club recognized Fran Sweesy as the 2010 Zontian of the Year. Fran was presented with a plaque and a yellow Zonta rose is being planted at the Arboretum Rose Garden in her honor. Zonta District 8 also recently recognized her 35-year length of service. Fran has been an active member of Zonta since her membership began, serving in various positions of leadership including club President and twice as Area Director. She is credited with recruiting 20 to 25 new members over the years of

her membership.

Fran is known in the Yakima area as a passionate rose gardener, and was instrumental in the establishment of the Arboretum Rose Garden through both her membership in the Lower Naches Garden Club and Zonta. She was the office administrator for The Casey Family program for 18 years before retiring.

Suzanna Darcy-Hennemann inducted into Women in Aviation’s Hall of fame

Rocke & Candy’s long time friend has achieved yet another milestone in her long career of great adventures. Congratulations on the well deserved honor!

Suzanna Darcy-Hennemann, Trish Beckman inducted into Women in Aviation's hall of fame

Suzanna Darcy-Hennemann of Boeing Commercial Airplanes and Patricia "Trish" Beckman of Boeing Test & Evaluation were recently inducted into the Women in Aviation's International Pioneer Hall of Fame. The WAI's hall of fame selectively honors women who have made significant contributions as record setters, pioneers and innovators in aviation.

Darcy-Hennemann, Commercial Airplanes' chief pilot of Boeing Training & Flight Services, leads approximately 700 instructor pilots around the globe. She was the first woman to captain a 747-400 and a 777 commercial airplane, and the first woman test pilot employed by Boeing in support of both production and experimental flight test. She is an active mentor of women, spanning two generations. Darcy-Hennemann is a current WAI member and was a keynote speaker at this year's annual WAI Conference, which took place in late February.

"We are very pleased these two women were honored this year for their extraordinary achievements as pioneers, and especially for their continuing contributions as leaders and mentors," said Geraldine Spear, manager, Global Research & Development Strategy, for Boeing Research & Technology and the Boeing focal for WAI.

WAI is dedicated to providing networking, education, mentoring and scholarship opportunities for women and men who are striving for a career in the aviation and aerospace industries.

Salmon 21 with Pressed Cucumbers and Sauce Verte

Rocke and I have enjoyed this dish since the late 70's. We often take it with us on short-trips around Washington State. It has traveled to the mountains for a picnic at Jump Off Low Ridge on the Eastern Washington side of Chinook Pass, to the Peninsula for a picnic at Ruby Beach and even canoeing on Lake Quinault. It provides a great hors d'oeuvre meal for several guests and the leftovers make wonderful salmon cakes.

Click here for the recipe.

Landmark Health Care Reform

On March 23, 2010, President Obama signed the Patient Protection and Affordable Care Act (Patient Act) into law. The House of Representatives also passed a reconciliation bill, the Health Care and Education Affordability Reconciliation Act of 2010, which makes changes to the Patient Act and is currently before the Senate for approval. Together, both pieces of legislation make sweeping reforms to health care in the United States.

Click here to read more.

Estate Tax Update for the State of Washington

Professional Alliance member and attorney Pat McGowan specializes in charitable and estate law with a focus on small business owners. He shared the following report with us on changes to the Washington State and Federal estate tax as well as his thoughts on what to expect in 2010 and 2011.

Report Estate Tax in the State of Washington

Caring for Aging Parents

We are all touched by the mental and physical deterioration of loved ones due to injury, illness or aging. Many times the love one struggling is not in your immediate area or we need independent counsel on the right thing to do. In these cases our Professional Alliance often turns to Lisa Mayfield, a skilled Geriatric Care Manager, for education, guidance and support. Lisa was featured in the February issue of Seattle Woman Magazine on caring for aging parents.

Go Green

Candy and her husband Rocke support initiatives for a cleaner kinder environment, especially when they can enjoy the effort.

The Smart Car

Rocke put his name in queue to receive a Smart car in 2006 prior to them opening up the US market. We were ecstatic when it arrived in 2008 as gas prices were hitting $4 dollars a gallon.

Rocke commutes from Ballard to Everett most days in the Smart car. He has it tricked out with heated leather seats and a great stereo system. He is getting around 40 miles to the gallon and has no problem cruising along at 70 miles an hour down the freeway. You really don’t feel like you are in a small car except for the small wheel base make it rough on speed bumps, potholes and mud puddles. The real joy in the car is driving it around downtown Seattle, where its tiny size means any spot is a parking spot. On stormy commute days he takes the pickup. When your hobbies include remodeling and woodworking you can never live without a pickup.

Here is an interesting article on the Smart car. It is the same color as ours, however you can swap out the panels any time you want to change the colors.

The Telsa Model S

We both fell in love with the Tesla Model S at first sight. We immediately went down to the local Tesla dealership in January and put a down payment on one. We are in queue at number 1,457 which is expected to arrive the first quarter of 2012.

The Tesla Model S is a full electric mid-size automobile that can seat five comfortably takes $4 to fill up, has a 300 mile range and a 45 minute quick charge capability. They are being built in California where they have already produced several hundred of the Tesla Roadster sports car. The factory to build the Model S is under construction in Long Beach.

I was going for the grey one until they introduced a new red that I like better, however we don’t have to make the final color decision until number 1,457 heads into production.

Tesla Model S Video

Trust But Verify

The bonds of trust are strong between an advisor and a client. There is no way an average investor can understand all the complexities of money management and the securities industry, which is why they put their trust in an advisor to guide them to their financial goals.

Sometimes that trust is abused. The stories of Madoff and Stanford are very disturbing and the news hit closer to home this week. Rumors are flying in the press that an advisor in Kirkland produced false account statements and stole hundreds of thousands of dollars from her clients.

With today’s technology it would be very easy to create false statements. So how do you know your money is safe? The best thing you can do is verify your investments are where they are supposed to be. We use large publicly traded companies to hold your accounts and you can call them to verify your assets. Those of you that access your account online have independent verification, but if you don’t then give Raymond James a call at 1-800-248-8863, hit zero and ask for customer service. We appreciate your trust but a couple of minutes on the phone is prudent and may help you sleep better at night.

At our securities firm it is amazing how often we receive checks made out in the name of the advisor instead of the name of the institution holding your funds. Make sure when you write a check to purchase a security you make it out to the name of the company holding your funds. We recommend you only hold your investments at companies that are large publicly traded securities firms where you can verify your funds are safe.

Candy Successfully Lands 787!

Rocke and Candy attended the American Lung Association’s kick off event for their annual Lung Walk at the Boeing Customer Experience Center. We were able to tour a full mock-up of a 787’s interior and play in a flight simulator. The 787 ceilings are so tall that I could stand up straight from a seat right next to the window. The windows are much wider and taller than today’ jets. I had a great time on the 787 simulator piloting a 787 by our office building in Seattle over the stadiums and landing at Boeing field.

The American Lung Association event was a sober reminder to us of the consequences smoking has had on our families. Both of us and our parents were smokers and Rocke’s parents died from lung disease. My mom was the first to kick the habit then Dad and I quit after Dad’s first open heart surgery. My parents are now in their 80 and very healthy. If you smoke, quit now. It is the hardest thing you will ever do but it is the best gift you can give yourself and those you love.

RockCandy Favorite Recipe: Salmon with Ginger, Black Pepper and Celery Puree

We thoroughly enjoyed this salmon with its unique flavor. Enjoy!

Click here for the salmon recipe.

Long Term Care Costs Leave Healthy Spouse Destitute

Long-term care costs leave healthy spouse destitute. Don't let this happen to your family or friends. There are legal ways to protect your spouse. The options are complex but with skilled guidance you may be able to preserve assets for the healthy spouse or leave funds for your heirs. In our planning process we not only look at these issues for you but for all those you care for. Our Professional Alliance member, Sean Bleck, is a recognized expert in this area and is a frequent speaker on elder care issues. His latest article can be found in the February 19th edition of the Puget Sound Business Journal in the Estate Planning and Charitable Bequests section.

You can register for Sean's seminars under the Professional Alliance heading on the right hand side of the blog.

Free Golf Carts

According to an article in the Wall Street Journal the IRS has ruled that golf carts qualify for the electric vehicle credit that provides a federal tax credit from $4,200 to $5,500 for the purchase of an electric car. Although the purchase of a free golf cart is a pretty cool thing we recommend you talk to your accountant before committing to purchase.

Key Numbers for 2010

The Key Numbers table summarizes all the important tax planning numbers you'll need for 2009 and 2010. Areas covered include:

• Individual income tax planning and marginal tax rates
• Investment planning
• Education planning
• Retirement planning
• Business planning
• Estate planning
• Protection planning
• Government benefits

The file can be downloaded from our website: Key Numbers 2010

You can contact us for help with any of your planning needs.

Qualifying 2010 Donations for Haitian Relief Efforts May Be Deducted on 2009 Returns

On January 22, 2010, the President signed into law HR 4462 (Public Law No: 111-126), establishing special rules that apply to charitable donations made for Haitian relief efforts.
An individual who makes a qualified charitable contribution after January 11, 2010 and before March 1, 2010 for relief efforts associated with the January 12, 2010 earthquake in Haiti can treat the deduction as if it were made on December 31, 2009. As a result, individuals who itemize their deductions on Form 1040, Schedule A, can elect to claim the deduction for their Haitian relief contribution on their 2009 federal income tax return. To qualify, the contribution must be made in cash.
Except for the ability to treat the contribution as if it were made in 2009, normal rules and limitations associated with charitable deductions apply. It's important to note that, to qualify for a deduction, donations must be made to a domestic charitable organization.
The legislation also specifies that a telephone bill showing the name of the charitable organization, and the date and amount of the contribution, will satisfy the charitable deduction recordkeeping requirements. This provision was added to facilitate charitable donations made via text messages.

Economic Dashboard

Assessing where we stand in the economic recovery is complicated and filled with conflicting information. Russell developed a simple to understand economic recovery dashboard that we thought you might enjoy.

http://www.russell.com/helping-advisors/markets/economicrecoverydashboard.asp

The dashboard shows you whether or not the economy is returning to more typical behavior. It is a snapshot of current conditions in the market relative to their typical-long term ranges. You can also click on each of the economic indicators for a more detailed perspective. It is not meant to serve as a direct prediction regarding the future performance of any economic or financial market, but it is a useful tool in illustrating the extremes that many of the indicators reached in the last few years and their return to normalcy.

Roth IRA Conversions: Planning for New Opportunities

Roth IRAs allow you to grow your assets, take withdrawals, and pass assets to your heirs tax-free*. Sounds great! So great that up until now the IRS imposed significant limitations on who could contribute and convert their IRA(s) to a Roth.

Click here to read the full article.