June 2016
June Insights
I want to share with you that Siobhan Connolly, Vice President/Senior Trust Officer has just achieved the status of Certified Trust and Financial Advisor (CTFA). CTFA is a distinguished professional credential offered by the American Bankers Association for financial professionals. It is the recognized standard of excellence for trust and wealth advisors. Siobhan attended the Cannon Financial Institute and successfully completed the comprehensive three-year program. We are extremely proud of her for this accomplishment, and also for her dedication to her clients and Garden State Trust Company.

I also would like to share that Garden State Trust Company at the end of last month has passed a resolution declaring ourselves a Stigma-Free company. Stigma-Free is an initiative through the National Alliance on Mental Health (NAMI).

On the NAMI website (www.nami.org/stigmafree#whatisstigmafree) they outline 3 Steps to becoming Stigma-Free.

Step 1: Educate Yourself and Others
Everyone knows a little about mental health issues, but knowing the facts about mental illness can help you educate others and reject stigmatizing stereotypes. They are not the result of personal weakness, lack of character, or poor upbringing. Understanding mental health isn't only about being able to identify symptoms and having a name for these conditions, but dispelling many false ideas about mental health conditions as well.

Step 2: See the Person and Not the Illness
1 in 5 Americans live with a mental health condition and each of them has their own story, path and journey that says more about them than their diagnosis. Whether you live with mental illness or are a friend, family member, caregiver or medical professional getting to know a person and treating them with kindness and empathy means far more than just knowing what they are going through.

Step 3: Take Action on Mental Health Issues
Our mental health care systems have been in crisis for far too long and often keep treatment and recovery out of the hands of many who need it. We can take action now as we push for better legislation and policies to improve lives for everyone. By lending your support you can show that this cause is important to you and desperately needed for millions of Americans.

We are proud to be a Stigma-Free independent trust company. 
 
Sincerely,


Below are a few articles which we hope you find useful. Let us know your thoughts and reach out with any questions. 
Taxes come first

George Thompson owed substantial back taxes and penalties to the IRS, over $100,000. He proposed a program of monthly payments of $3,000 to meet his obligation, but the IRS believed that he could pay much more. George’s counsel filed Form 433-A showing monthly income of $27,633 ($331,596 annually) and monthly expenses of $24,416. The difference was the amount that George offered to pay. The Service challenged two specific items of expense as not allowable in this computation. Learn More.

Are you a living trust candidate?

Any comprehensive review of an older person’s financial planning is likely to touch upon the value of a revocable living trust for investment management. The trust approach provides a great tool for delegating investment responsibility into experienced hands without giving up control of assets. Anyone with a substantial portfolio should consider a trust and the benefits of professional trusteeship, such as we provide. Learn More.

Estate planning for collections

It seems that everybody collects something these days. Many collectors have spent a lifetime gathering the items in their collection. The collector’s sentimental attachment to the collection is often greater than any other assets that he or she owns. A careful discussion of a collection’s disposition is critical. Learn More.
Because of the rapidly changing nature of tax, legal or accounting rules and our reliance on outside sources, Garden State Trust Company makes no warranty or guarantee of the accuracy or reliability of information contained herein nor do we take responsibility for any decision made or action taken by you in reliance upon information provided here or at other sites to which we link. © All rights reserved. 
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Toms River, NJ -  732.255.5000  | Cherry Hill, NJ - 856.281.1300 | Lebanon, NJ -  908.287.7188

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