Posted in Triplett & Carothers on September 3, 2025

Taking a home inventory means that you are documenting the valuables in your residence, usually by taking photos of them and saving any receipts that prove how much you spent on them. The goal is to make sure that you receive the maximum payout from your homeowners’ insurance policy if a fire, lightning strike or… read more

Posted in Triplett & Carothers on September 1, 2025

It all started when Roz Carothers and Reggie Garcia were asked for help to support the band by the former music director several years ago. From there, Roz and Reggie — and their music-minded families, and their deep-rooted passion for the marching band — were inspired to create the Cardinals Marching Band Booster Club. Through… read more

Posted in Triplett & Carothers on August 4, 2025

A prenuptial agreement clarifies which assets and debts are considered marital and which remain individual, protecting both spouses from financial liabilities. It can also help with: Business succession planning, ensuring ownership stays within the family. Preserving premarital wealth so assets accumulated before marriage remain separate. Preventing inheritance disputes, particularly when one or both spouses expect… read more

Posted in Triplett & Carothers on August 3, 2025

An asset’s basis is its original purchase price, which determines how much tax will be owed when the asset is sold. When an asset is inherited, the so-called stepped-up basis resets this value to the asset’s fair market value at the time of the owner’s death. For example, if a family home was purchased for… read more

Posted in Triplett & Carothers on August 2, 2025

The OBBBA law is long, but the IRS has summarized some of the most significant provisions: No tax on tips Effective for 2025 through 2028, employees and self-employed individuals may deduct qualified tips received in occupations that are listed by the IRS as customarily and regularly receiving tips on or before December 31, 2024, and… read more

Posted in Triplett & Carothers on August 1, 2025

Congratulations to Rosalyn Carothers — JD ’85, ’90 – on her new position as Chair of the University of Louisville Alumni Board of Directors.  Active as a board member since 2019, Roz will lead the Board of Directors for a two-year term. The Board is a representative group of Louisville Alumni’s members, serving as their… read more

Posted in Triplett & Carothers on July 3, 2025

ON A PERSONAL NOTE: Visitors to our office often comment on the cast iron Scottie dog statues. While our Scottie dogs do not come to our office, we share a special fondness for animals—especially our two Scotties named Wooster and Bertie. Recently, we all traveled to Wisconsin to attend the Door County Scottie Rally, an… read more

Posted in Triplett & Carothers on July 3, 2025

When setting up your retirement plan, it’s helpful to avoid common mistakes that can diminish your savings and impact your future. Planning carefully for your budget and lifestyle needs increases your chances of enjoying a comfortable retirement. Below are some common missteps to watch for. Starting to save too late: Delaying retirement savings can make it… read more

Posted in Triplett & Carothers on July 2, 2025

Exploring the outdoors offers numerous health benefits and a chance to enrich your retirement through new adventures. Whether you’re walking, hiking, cycling or driving, staying active helps combat the risks of inactivity and isolation, while fostering self-discovery and fulfillment. Activities such as gardening, hiking and sports improve mobility, balance and strength while connecting you with… read more

Posted in Triplett & Carothers on July 1, 2025

Many people believe that their medical expenses in retirement will be fully covered by Medicare; however, that is not how Medicare works for most people. Individuals are still responsible for premiums, deductibles, coinsurance and copays. Additionally, Medicare does not cover routine vision, hearing and dental care; health care while traveling outside the U.S.; private-duty nursing;… read more