Each quarter, we hear questions from clients as they think through retirement, income planning, taxes, and long-term financial decisions. Here's what came up most this quarter.
When should I turn on Social Security?
The answer is: it depends.
Retirement benefits can generally begin as early as age 62 - but claiming before your full retirement age results in a reduced monthly benefit. Delaying past full retirement age increases your monthly benefit up until age 70.
The right decision depends on:
- Whether you are still working
- Your health and family longevity
- Your cash flow needs
- Your spouse's benefit situation
- Your tax picture
- Your investment accounts and withdrawal strategy
- Your comfort level with guaranteed income later in retirement
For some retirees, claiming earlier may provide needed flexibility. For others, delaying can help create a larger guaranteed income stream. The key is not to make this decision in isolation.
Do I need a trust?
Maybe - but not everyone does.
Whether you need a trust depends on your personal situation, family dynamics, assets, state laws, and goals. For some families, a simple will, powers of attorney, healthcare directives, and updated beneficiary designations may be enough. For others, a trust provides more control, privacy, and flexibility.
Estate planning isn't just about who gets what when you pass away. It's also about making sure the right people can step in and carry out your wishes if something happens during your lifetime.
Will vs. Trust:
| Will | Trust |
|---|---|
Takes effect after death | Can be used during life and after death |
Names who receives assets | Details how and when assets are distributed |
Can name guardians for minor children | Can manage assets for minors not ready to inherit |
Generally goes through probate | May help avoid or simplify probate |
Becomes public record | Can offer more privacy |
Simpler and less expensive to create | More complex, requires additional setup |
Download our Peace Of Mind Handbook to help gather and organize your important information.
What should I do if I receive a letter from the IRS?
If you received a letter from the IRS this year, you're not alone. 2025 has brought a noticeable uptick in correspondence around identity verification, direct deposit confirmation, and tax return follow-up.
Our best read? The IRS is ramping up efforts to verify that Social Security numbers are tied to real people — and their tool of choice is ID.me, a secure identity verification platform.
Most of these letters are routine. They don't mean something is wrong — they just mean the IRS wants to confirm who you are.
Got a letter? Reach out to us. We'll walk you through what it means and can complete the process alongside you if needed.