Posted on December 1, 2023

If you have not yet had a serious conversation with your children about your plans and hopes for retirement, you are not alone. According to a survey by GOBankingRates, 73% of over 1,000 respondents had never addressed it with their families. Why not? Money is often a taboo subject. Twenty-two percent felt it was not… read more

Posted on December 1, 2023

It’s never too early to think about taxes! The IRS has already issued numbers to help you understand what the 2024 tax situation will be like. Below is a summary. The standard deduction for married couples filing jointly for tax year 2024 rises to $29,200, an increase of $1,500 from tax year 2023. For single… read more

Posted on November 6, 2023

You may have to make difficult decisions while you still have the mental and physical capacity to deal with financial, legal and health care issues. Personal and health affairs management, estate planning and administration, and long-term care and how to pay for assisted living or nursing home care are needs that must be addressed by… read more

Posted on November 5, 2023

A trust is an estate planning document that disposes of your assets after your death. Trusts are an effective planning tool for those with detailed plans for their worldly goods. Will your trust achieve the purpose it was created for? Not if you make one of the following errors: Failure to fund. You have to fund… read more

Posted on November 4, 2023

If you’re the executor of an estate, part of your job is to oversee the valuation of assets. Finding out how much the estate is worth and how that value is distributed will determine your approach to probate, the allocation of the assets among the heirs and how much the estate will pay in taxes…. read more

Posted on November 3, 2023

Scott became a lawyer in 2008, following in the footsteps of his father, and schooled to think like a lawyer. He is a member of the Kentucky Bar Association and his membership in the Indiana Bar Association is pending. Scott joined Triplett & Carothers in 2016 as a probate attorney after ten years with various… read more

Posted on October 6, 2023

Your 65th birthday is a landmark date for many, as you plan for your senior years. There’s a lot to think about, and your decisions will be based on your income and savings and on your long-term goals. Below is a summary of the major issues. Sign up for Medicare If you enrolled in Social… read more

Posted on October 5, 2023

The SECURE Act of 2019, followed by SECURE 2.0 in 2022, was intended to facilitate the implementation of retirement plans for companies of all stripes. A major goal was to reduce administrative burdens, particularly on small businesses, which should especially benefit from the extension of low-cost options and limited contribution matching. However, employees at smaller… read more

Posted on October 4, 2023

Depending on the loan type, you can qualify for a mortgage with a downpayment that is as low as 3% of your home’s final purchase price. And for some loans — such as a VA loan or USDA mortgage — you don’t need any downpayment at all. But what if you can afford a larger… read more

Posted on October 1, 2023

It was a great day for appreciation and giving in September when Triplett & Carothers made a donation to the University of Louisville Cardinal Marching Band (CMS). The firm’s ongoing commitment to the CMS holds special meaning for firm founder Roz Carothers who is a lifelong musician and received a degree in music from U… read more