Estate Planning 101: The Documents You Need and Why

By Tyler Conley, MBA, CFP®, CEPA®, Financial Planner

“Who actually needs estate documents and what estate documents are applicable to me?” is one of the most common questions I get when onboarding new clients to a comprehensive financial plan. The short answer is that any legal adult should strongly consider having a will and powers of attorney, at a minimum. However, a case can be made for all adults to become aware of/knowledgeable about the different estate documents that exist and how they are applicable in different scenarios.

Parenting, Allowances and Life Lessons

By Kara Knaack, Marketing & Communcations Coordinator

Podcast

Buying vs. Leasing Vehicles

There are pros and cons to buying versus leasing a vehicle. In this short Finance Moment podcast episode, we cover the advantages and disadvantages of each option for acquiring a new car. Which option is the right choice for you?

Listen here.

Financial Updates

Schwab Account Issues Resolution    

As we continue to work through the first few months since the transition of our investment management clients’ accounts to Schwab, we understand that some statement preferences or account access issues may occur. Should you run into issues of any kind with your Schwab accounts, please contact your planning team directly so that they can assist you with a resolution in a timely manner.

Investment Changes

Two objectives of Syverson Strege’s Investment Committee are 1) to make our portfolios tax-efficient and 2) reduce trading fees to the extent possible. We believe that we have identified opportunities to do so within some of our portfolios.

A couple of the mutual funds we use within our portfolios – including a global stock fund and a real estate fund – now have very similar funds available as “exchange-traded funds” also known as ETFs. The ETF structure is like a mutual fund but has the added benefits of reduced trading costs at Charles Schwab and being more tax efficient as these funds rarely distribute year-end capital gains.

We plan to make these fund changes during November and December, so you might notice some additional trade activity on your statements. Before making the trades, we will ensure that they will not generate any significant capital gains.

Inside Look

Challenges of Aging Luncheon Series

Our final Challenges of Aging event for 2023, held in October, focused on deciphering nutrition labels and cooking with disease state diagnoses. Stephanie Labenz, MS, RD, LD with the Aging Resources of Central Iowa was a wealth of knowledge and even provided samples of a delicious black bean soup and mango salsa for attendees.

Southeast Iowa Client Appreciation Event

Several Syverson Strege employees traveled to West Point, Iowa, in early November to host our annual Southeast Iowa client appreciation event. A big thank you to our clients for making it so easy to appreciate you!

Goodbye, Twitter/X; Hello, Instagram!

As social media algorithms continue to change, we’ve made the decision to deactivate our Syverson Strege Twitter/X account at the end of 2023. We see very little engagement there but do see the opportunity to share content and engage with current clients and new individuals on Instagram going forward. Though our Instagram account will not be “live” with content until January 2024, please go ahead and follow us @syversonstrege if that is a social media platform you engage with. We will continue to post content on our Facebook and LinkedIn pages. 

Events

It's a Wrap 

Date: Friday, Dec. 15

Time: 9 a.m.-2:30 p.m.

Location: Syverson Strege office

Join us for our 2^nd Annual “It’s a Wrap!” gift wrapping event at Syverson Strege.

• Bring your holiday gifts to be wrapped (please bring your gifts already boxed and ready to wrap), and Syverson Strege employees will wrap your gifts!
• Refreshments will be served.
• This free event is for clients only.

If you don’t have gifts to wrap, stop by anyway to join in the holiday cheer! Please let us know you are coming by contacting Deb Longseth at (515) 225-6000 or dlongseth@onlyworkforyou.com.

Save the Date for these 2024 Events!

We have an exciting event lineup planned for 2024. More details on each event, as well as registration information, will be shared in the coming weeks, but mark your calendars for the following events planned for Q1:

• Jan. 19: Retirement Asset Management (RAM) webinar (virtual only); Noon-1 p.m.
• Feb. 22: Power of Connection Women’s Series Kickoff @ Royal Flooring; 4:30-6:30 p.m. (heavy appetizers will be provided)
• March 19: Estate Planning Fundamentals Workshop @ Syverson Strege Office; 8-11:30 a.m. (breakfast will be provided)
• March 27: Challenges of Aging: Caregiver Concerns for the Sandwich Generation & Beyond @ Syverson Strege Office; 11:30 a.m.-1 p.m. (lunch will be provided)

Philanthropy

Des Moines and Story County Philanthropy Days

Syverson Strege is a proud sponsor and supporter of the Association of Fundraising Professionals Central Iowa Chapter and the Story County Alliance for Philanthropy. It was an honor for Syverson Strege employees to attend both the Des Moines Philanthropy Day luncheon at the Community Choice Convention Center and the Story County Alliance for Philanthropy luncheon held in Ames to celebrate Central Iowa leaders, organizations and youth promoting philanthropy.

DMARC Food Drive

The Syverson Strege team took the Des Moines Area Religious Council (DMARC) food drive donation to the next level this year by splitting the office into two teams and assigning points to the items donated. The two teams combined donated a total of 293 food and personal care items. 

Out and About

Unconventional Business Network

Syverson Strege was proud to sponsor the Unconventional Business Network (UBN) luncheon in October. UBN events feature prominent business speakers who share unconventional stories and practical examples of integrating faith in the workplace. The event speaker for this luncheon was Stephen Kendrick, an American film writer and producer, co-writer of the book “The Love Dare” with brother Alex Kendrick, and former senior associate pastor at Sherwood Baptist Church in Albany, Georgia.