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Greetings from all of us at Cornerstone -

We've made it to springtime. The sun is shining throughout the day and we've escaped the snowfall and chill.  (A narrow escape admittedly.)  The tulips are breaking ground as the trees are budding. The smell of rain is in the air.  And we've put out taxes to bed for the year. 

Before the thoughts of your taxes completely retreat to the back of your mind, along with the other certainties in life, we'd like you to take a moment to consider the structure of your estate and how it affects your taxes. We’ve pulled a couple of articles that speak to these considerations. If your interest is piqued, feel free to reach out for a conversation. We’d enjoy the opportunity to discuss your options with you and your tax professionals.
Recently, there has also been some hubbub in the financial world about the fiduciary ruling by the Department of Labor. In summation, advisors will soon be held to a higher standard in the best interest of their clients as opposed to being allowed to make recommendations based on potential commissions. At Cornerstone, we’ve always put our clients’ interests first and will continue to do so. In the interest of transparency, we’ve included an article that explains what is happening and how it will affect the industry.

We hope that these articles are helpful as you encounter the financial challenges of everyday life. As always, if you have ideas for upcoming topics or feedback on the newsletter we would love to hear from you. Thank you for the privilege of continuing to assist you on your journey to meet your financial goals.  

Estate Taxes: An Overview

There are many factors that you should consider when designing an estate plan. One of the most significant is taxes. The act of giving away your property may be subject to taxes on the federal level, state level, or both. These tax liabilities may be the largest potential expenses your estate may have to pay. This means the property that you want to go to your loved ones may go to the federal government and your state instead. Understanding what these taxes are, how they work, how they may affect your estate, and how they can be minimized is vital to implementing a successful estate plan.
Read More...

2016 Estate, Gift and GST Tax Update What This Means for Your Current Will, Revocable Trust and Estate Plan

The American Taxpayer Relief Act of 2012 made the following permanent: the reunification of the estate and gift tax regimes, the $5 million estate, gift and generation-skipping transfer tax exemptions, as increased for inflation and portability. These increased exemptions create opportunities to make larger lifetime gifts, to leverage more assets through a variety of estate planning techniques and to shift income-producing assets to individuals such as children or grandchildren.

DOL Fiduciary Rule Puts "Client Frist" in Landmark Change for Wealth Advisors

Broker-dealer reps managing retirement accounts must adhere to tough new standards under an Obama administration rule released April 6th that aims to protect millions of savers from conflicted investment advice. 
Chad Halbur
President and Shareholder
Anthony Botticella
EVP and Managing Director


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2101 W 41st Street, Suite 2000
Sioux Falls, SD 57105

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