CMP Financial Planning

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Should I Buy an Annuity?

- Jul 17, 2018

by Barry Jamieson, CFP®, MA Some of you may have been on the receiving end of a sales pitch to buy an annuity. The proposition that annuities defer taxes and guarantees growth on your investment is indeed enticing. What is not to like? Although these complex financial instruments may have a place in the financial…

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Should I Take My Social Security Retirement Benefit Early?

- Jun 15, 2018

By Barry Jamieson, CFP®, MA Most special needs families understand the critical role Social Security plays in the financial wellbeing of their loved one with a disability.  For families with children 18 or older the monthly Social Security Insurance (SSI) benefit represents a building block towards independence.  By itself of course, the additional monthly income…

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Creating a Letter of Intent

- May 14, 2018

By Barry Jamieson, CFP®, MA There are many dimensions to a family’s special needs plan. Past articles in the Disability Insights series have focused on estate and financial planning topics; however, as families well know, the daily considerations and routines of the child with a disability are also a key component of the special needs…

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Retirement Planning For Three

- Apr 16, 2018

The initial planning energies of special needs families are often on hiring an attorney to draft necessary estate planning documents (e.g., wills, trusts).  Developing a solid financial plan for such families is equally important.  A comprehensive financial plan takes into account both the needs of the individual and the goals of the family members. While…

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Should You Avoid Designating Your IRA to the SNT?

- Mar 20, 2018

By Barry Jamieson, CFP®, MA Ok, so you have established a Special Needs Trust (SNT) or you have plans to do so. You have been thinking about what assets will be used to fund the trust. Those plans include designating some of your 401K and IRA retirement funds to the trust, because much of your…

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How ABLE Accounts and SNTs Can Work Together

- Feb 12, 2018

By Barry Jamieson In presentations I have recently given to special needs families about Special Needs Trusts (SNTS) it is apparent that there is still confusion about when to establish an SNT and when to start an ABLE account. Specifically people want to know: “Should I set up an SNT or an ABLE account?” The…

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“Smile” How the Tax Overhaul Bill Affects Dentists

- Feb 07, 2018

By Christina Povenmire, CFP ®and Barry Jamieson,CFP® Source: William Vasil, CPA, Ary Roepcke Mulchaey, P.C. and ADA News bulletin The recently passed tax bill contains a number of provisions which will help dentists and small businesses save tax dollars. Each of these provisions outlined below are effective for 2018. “ Improving Section 179 Deductions. The…

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How the Tax Overhaul Bill Affects People with Disabilities

- Jan 17, 2018

By Barry Jamieson.   The tax overhaul bill passed at the end of 2017 ushered in major changes for all taxpayers including people with disabilities.  Here are a few of the major changes that could impact individuals with disabilities depending on their tax situation. Standard Deduction Increase to $12K. Starting in 2018 the new threshold…

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