DEAR TRUST OFFICER: I’m 74 and my wife turns 70 this year. I’ve been taking required minimum distributions (RMDs) from my IRA, and she should begin hers this year. However, we hate to sell our stocks at low prices. Any suggestions?—COMFORTABLY RETIRED DEAR COMFORTABLY: If you have not yet taken your RMD for this year,…
DEAR TRUST OFFICER: How long does it take to settle an estate? —PROSPECTIVE TESTATOR DEAR PROSPECTIVE: The short answer to your question might be, “It takes much longer to settle an estate than most beneficiaries think is reasonable.” To get to a more helpful and longer answer, we need to answer many more questions first,…
It has been said, investors with $50,000 portfolios have stockbrokers, while those with $5 million have trust officers. That may be true, but it’s also misleading. The fact is, few of our clients are in the truly high-wealth category. A good number of business or professional people, active or retired, count on us to maintain…
Due to the current Covid-19 situation, the upcoming annual shareholder meeting will be postponed until later this summer or, at the latest, at our regularly scheduled September 15, 2020 meeting. Please direct questions to: Douglas A. Nunn, Managing Director/CEO, 804.272.9044.
“There are decades when nothing happens, and there are weeks when decades happen.” This quote (by Vladimir Lenin of all people) pretty much sums up the first quarter of 2020, as governments around the world instituted draconian methods to slow the pace of the spread of the Coronavirus (a.k.a. COVID-19). These actions are in essence…
Hello Clients and Friends, We hope you are all doing well. What seemed to start out as a “hurricane” style event has turned into one of the biggest disruptions in our lifetime. As a trust-only bank, we have constant operational (state and internal) exams, financial reviews, and oversight that our Board of Directors has the…
We hope you are all doing ok and staying safe during this crazy time. Although we are working remotely, we are still hard at work managing your portfolios and the administrators are hard at work ensuring that you get what you need when you need it. The stock and bond markets have been on a…
Like many of you, TCV Trust & Wealth Management is monitoring the COVID-19 news. We would like to let our clients and friends know of our preparation to prevent a business disruption. As a state regulated financial firm, we are required to maintain a Business Continuity Plan that addresses various scenarios which could cause a…
In case you haven’t noticed, the news has been a little busy over the past month, with the leading headline a particularly nasty strain of Coronavirus called COVID-19, which is a cousin of the common cold virus that causes flu-like symptoms and can lead to pneumonia. We will leave it to the medical professionals to…
Your reference guide to 2020 Tax Rates, College Savings Incentives, IRA and 401(k) Contributions, ABLE Accounts, and Social Security Benefits. Please click on the image below.