Wescom Financial Services offers complimentary webinars, available through CUSO Financial Services, L.P. (CFS*), that all Wescom members may attend. Hosted by our CFS* Investment Representatives, these webinars offer timely information that you need in order to make important life decisions. Our webinars have covered a range of topics including trust and estate planning, investing basics, IRAs, saving for college, tax-advantaged investing, and more.
Stay up-to-date on the current market performance, important current events, and key data release dates.
The IRS processed more than 164 million individual income tax returns for tax year 2020 (most recent full-year data). Where does your income fit? Learn more in the current newsletter.
February saw stocks slide lower after posting solid gains to begin the year. Read more in this month’s Market Summary.
Stimulus Payments: Spending, Savings, or Both? Learn more in the current newsletter.
How Are 401(k) Plan Participants Investing Their Money? Learn more in the current newsletter.
October saw stocks close higher, the first monthly gain since July. Read more in the current newsletter.
Employment has recovered at a record pace since April 2020. Learn more in the current newsletter.
The value of goods and services produced in the United States is at an all-time high. Read more about it in the current newsletter.
New business are growing more than ever. Find out what this may mean for economic recovery in the current newsletter.
We offer a wide variety of interactive and easy-to-use financial calculators. Our calculators are valuable tools that can help you determine and plan your investment, retirement, and educational savings goals, giving you interactive charts and graphs to help visualize and monitor your progress.
Wescom Trust Services can deliver a wide range of trust and asset management services to meet the needs of members. To determine your specific needs, you’ll need to consult with your Trust Liaison Officer.
Gives donor full control of assets, flexibility, and access to professional management throughout lifetime.
Permanently transfers assets and their subsequent appreciation to heirs.
This type of trust is established to help protect the governmental benefits of a person with a disability. Assets in a Special Needs Trust supplement the benefits of needs-based programs and do not constitute a resource in determining eligibility.
By making a gift of highly-appreciated assets to charity, a member can receive income from assets for life as a current income tax deduction. Can serve as a supplemental retirement plan.
Created under a living trust or by will; removes taxes from a surviving spouse’s estate. Provides for both surviving spouse and heirs through use of unified estate and gift tax credit.
Unique trust keeps proceeds from a life insurance policy out of donor’s estate and provides beneficiaries with liquidity to pay estate taxes.
A “marital deduction trust” often used by remarried individuals; allows donor to provide income after death to second spouse while preserving assets for children of first spouse.
Created under a living trust or by will, established to receive an amount on behalf of the surviving spouse that qualifies for the marital deduction.
Non-qualified compensation. Can be protected against change of management by the employer.
Controls gifts to child under annual gift tax exclusion, providing asset management until child reaches age of majority.
Required for all qualified employee pension and profit sharing plans except 403(b) and new governmental 457 plans.
A trust set up under your will to be funded at your death for one or more of your beneficiaries. Often used to protect minor beneficiaries or those unable to manage an inheritance.
Wescom Trust Services will partner with you to help you reach your investment goals. As you pass through the various stages of your life, your financial needs and objectives will change.
Beneficiary: A person who is entitled to receive benefits (usually money or other property) from a trust.
Donor: A person who creates a trust; also, often referred to as a “trustor,” “grantor,” or “settlor.”
Marital Deduction: A deduction for estate and gift tax purposes for the amount of property that passes to a spouse.
Probate: The procedure in each state required to legally settle the estate of a deceased person and transfer his or her property.
Trust: A relationship in which one person (the trustee) is the holder of legal title to property (the trust property) to keep or use for the benefit of another person (the beneficiary).
Unified Credit: A tax credit, allowed by the federal government, which may be applied toward either gift or estate taxes that may be due.
Many individuals can benefit from the use of a trust. Basic criteria can be used to help determine if a trust is right for you. Ask yourself the following questions:
If you answered “yes,” to any of the questions above, you may be in need of a trust.
The decision to work with Wescom Trust Services has distinct advantages over appointing an individual as a trustee. First and foremost, when you choose a corporate fiduciary, you are dealing with professionals skilled in the field of trust management.
Other reasons include:To determine if a corporate fiduciary is right for your estate planning needs, consult with your Trust Liaison Officer.
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