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The Cary Connection JULY 2025
Cary • Raleigh • North Raleigh • Chapel Hill
Storm-Proof Your Legacy Is Your Estate Plan Disaster-Ready?
No one likes to imagine floods, fires, hurricanes, or earthquakes touching their lives, but natural disasters don’t consult a calendar or wait for us to get our affairs in order. Last year’s catastrophic flooding in North Carolina brought home a sobering truth: The unexpected and devastating storms we often see on the news can happen anywhere, even in such a landlocked part of our state. Dangerous weather is a fact of life, and while we quickly stock up on batteries and supplies during hurricane season, one key area we sometimes overlook in the rush to prepare is our estate plan. Natural disasters can do more than damage your property. They can complicate the administration of your estate if vital paperwork, like signed and notarized wills, trusts, and powers of attorney, is damaged or lost. We recommend keeping a copy in a safe deposit box or fireproof safe and letting your loved ones and executor know where it is. Better yet, maintain multiple copies. Even a quick text to a trusted person, noting where your documents are, can be incredibly helpful if Mother Nature has other plans. If you became our client within the last two years, we’ve already taken an extra step for you, uploading your documents to our secure, cloud- based digital vault. Upon signing, we provide access to the vault where you can also store practical, personal details you may not have included in your formal plan, like what to do with your pets or prescriptions if you are displaced. Having a digital backup during a crisis gives you one less thing to worry about while recovering after a storm.
reflect this, noting points of contact like insurance companies or HOAs. This can help your executor avoid confusion or scams, which are common after disasters as people impersonate insurers or officials. When your plan includes the names of trusted advisors, you’re less likely to fall for someone claiming, “I’m here to talk to you about your property.” When a disaster strikes, you have to focus on surviving and returning to normal, but even then, it’s a wise decision to revisit your plan. Even if nothing happened to you, someone in your plan could be affected. Your eldest child, for example, may no longer be in a position to serve as your executor due to a life-altering event in their community. If someone knows your plan exists and where to find it, whether digitally or otherwise, it can still be administered. If you live in a flood zone, it may be time to rethink how you are storing your documents before storm season. We’re just a phone call away if you need to review or adjust anything. We’re happy to schedule a review meeting or walk you through accessing your vault information. The vault is a space where you can add thoughtful instructions about family heirlooms or a caregiving plan for special needs beneficiaries. Some families even upload care guides or household manuals. It’s a way to preserve peace of mind even when the unexpected happens. Vault access is included with new estate plans, and if you are an existing client, you can add this access for a nominal fee. You can even designate someone as a secondary user so no one needs to wade through a muddy basement or search through emails for a will.
Additionally, we’ve seen natural disasters impact property values, trigger insurance claims, or affect rental properties. Your plan should
Natural disasters can be stressful, but knowing your estate plan is safe, secure, and up to date can bring some calm during the chaos. A quick check-in now can prevent a lot of worry later or while getting back on your feet after a storm. We’re here when you’re ready. -Paul Yokabitus
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Moves Beyond Today’s Money SECURE STEPS TO A SAFE RETIREMENT
There’s often more to retirement planning than meets the eye, especially regarding taxes.
to provide to your heirs. However, prepare for the likelihood that putting too much money into a Roth conversion may lead you toward a higher tax bracket once retirement comes, so careful planning with professional assistance is advised. With taxes expected to rise in 2026 and beyond, it’s also prudent to work with a financial planner to implement strategies to reduce your financial obligations in retirement, including the amount taxed on your Social Security benefits. A Plan for Health Care Hurdles Unfortunately, reaching retirement age often means experiencing new health issues that could substantially impact your income. It is critical to consider how any changes to your retirement income may affect Medicare premiums or increase the chance of incurring penalties. Charting a financially secure future takes skill, focus, and tremendous care. What may work for someone else financially may not be the best solution for you. Consult a financial professional before implementing any plan that could drastically alter your comfort and security.
Although many people believe saving money for their golden years is the primary path to a secure retirement, tax planning and health care considerations play significant roles in the strength of one’s later years and subsequent legacy. Here are two essential aspects of proper retirement and estate planning that many often overlook. The Right Financial Tune-Up Time Frame The most significant risk to successful estate and retirement planning is not starting the process early enough. To ensure the smoothest transition possible, experts recommend engaging in tax planning no later than five years before you intend to retire. Getting a lengthy head start will enable you to determine ways to make pretax funds work for you in tax-advantaged accounts. If you anticipate reaching a higher tax bracket in retirement, converting to a Roth IRA — in which you can grow post-tax funds toward your retirement and withdraw them tax-free after you reach 59.5 years old and have had the account for five years — may be a viable option to protect yourself and what you intend
MAXIMIZED MARITAL MAGIC The Art of Unlimited Deductions
Devising the best estate plan to provide for those dearest to you can be emotionally and logistically challenging, even under the clearest circumstances. However, this process can be even more difficult due to the critical terms, conditions, and laws that could determine the strength or weakness of how your wishes are carried out upon your passing. To make things a little easier, here are the basics about the “unlimited marital deduction” and how it influences what one spouse receives from another. Tax-Free Transfers The unlimited marital deduction enables a spouse to transfer unlimited assets to another tax-free. You derive this deduction by subtracting the total amount of assets from the gross estate, which must be distributed according to a will. Estate taxes on transferred assets are delayed until the recipient spouse’s death. The spouses must be legally married U.S. citizens to qualify for this deduction. Safeguarding a Sustained Legacy If an individual wishes to have a say in what happens to their assets after their surviving spouse passes, they can set up an irrevocable Qualified Terminable Interest Property (QTIP) Trust that will still provide for the surviving spouse but outline beneficiaries
upon their death. Because this trust is irrevocable, it can’t be altered by anyone, including the surviving spouse.
Citizenship Exceptions Although establishing the unlimited marital deduction is straightforward for
American citizens, pursuing similar options for non-citizen spouses is more complex but not impossible. First, a U.S. citizen can gift money to their non-U.S. citizen spouse. In 2024, the maximum amount not subject to gift taxes was $185,000. Another option would be to establish a Qualified Domestic Trust (QDOT), which allows the non-citizen spouse to take advantage of the unlimited marital deduction so long as they are the sole beneficiary and at least one trustee is a U.S. citizen or an American corporation. Naturally, the conditions outlined in this brief overview are subject to a host of what-ifs that may affect the specific outcome of your situation. Working with skilled financial planners familiar with these nuances is essential to secure your spouse’s well-being and satisfy tax obligations when the time comes to implement your estate plan.
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TAKE A BREAK
Budget Brilliance From a Bygone Era
AMERICAN BICYCLE CHERRY FIREWORKS FLAG
In a world where you can have anything delivered in a day, it’s easy to forget that less can be more. But our grandparents and great-grandparents knew the art of stretching a dollar. These timeless frugal habits aren’t just budget-friendly; they’re resourceful and surprisingly satisfying. Ready to channel your inner penny-pincher? Let’s bring these throwback habits back to life. Mend it, don’t end it. Once upon a time, people didn’t just toss a sock with a hole. Instead, you sewed it right back up! No need to rush to the store — just a few basic mending skills can save you from countless unnecessary purchases. It’s also more empowering to fix something with your own hands than tossing it — not to mention much more eco-friendly. Master the magic of homemade meals. Fast food might be convenient, but cooking from scratch is where the real savings (and flavor) happen. Think soups from veggie scraps and hearty meals made from simple pantry staples. Not only does it cut costs, but it puts you in control of your ingredients and nutrition — a win-win. Reinvent your leftovers. Gone are the days of letting food wilt in the fridge. Old-school frugal folks gave every last bite a second act. Roast chicken becomes broth. Rice gets turned into stir-fry. Stale bread transforms into French toast or bread pudding. Get creative! You’ll waste less and eat better. Choose cash over card. There’s something about handing over $20 cash that makes you think twice before spending it. Cash budgeting may feel outdated, but it’s one of the simplest ways to curb impulse buys. Envelopes marked for groceries, gas, or coffee dates give you a clear snapshot of your spending — and what’s left. No more senseless swiping! Save with secondhand savvy. Hand-me-downs were once a household norm! Today, thrift stores and vintage finds are trending again, and for good reason. Whether it’s clothing, furniture, or kitchenware, buying secondhand is kinder to your wallet and the planet. RETRO HABITS MAKE MODERN LIFE (AND PRICES) EASIER
INDEPENDENCE PADDLEBOARD PICNIC RUBY STARS SHERBET TRAMPOLINE
Cheesy Tomato-Basil Stuffed Chicken Inspired by HalfBakedHarvest.com
Ingredients
Directions
• 4–6 boneless,
1. Preheat oven to 425 F. 2. Slice chicken down the middle horizontally (not cutting all the way through). 3. Spread pesto inside filleted chicken, then stuff with cheese and tomatoes before closing chicken, covering filling. 4. Place chicken in a large oven-safe skillet. Drizzle with oil. 5. Set the skillet over medium heat; cook 5 minutes. 6. Add 1 1/2 cups tomatoes, garlic, balsamic vinegar, and season with chili flakes. Cook 2–3 minutes, then remove from heat. 7. Bake in oven for 7–10 minutes until chicken is cooked through and tomatoes burst. 8. Toss remaining 1/2 cup tomatoes with basil, thyme, salt, and pepper. 9. Serve the chicken topped with fresh tomatoes.
skinless chicken breasts • 1/2 cup basil pesto • 1 cup shredded mozzarella cheese • 1/3 cup oil-packed
sun-dried tomatoes, drained, oil reserved
• 2 cups cherry
tomatoes, divided
• 2 cloves garlic, smashed • 2 tbsp balsamic vinegar • Chili flakes, to taste • 1/4 cup fresh basil, chopped • 1 tbsp fresh thyme leaves • Salt and pepper, to taste
So, channel some old-school genius and start living a frugal, intentional lifestyle!
CaryEstatePlanning.com • 3
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PLANNING, NOT PAPERWORK.
Cary • Raleigh • North Raleigh • Chapel Hill 1255 Crescent Green, Suite 200, Cary, NC 27518 919-726-0896 • www.caryestateplanning.com
Inside This Issue
1
What Every Homeowner Should Know Before the Next Storm
2
Ways to Win the Retirement Race
Secrets to Spousal Stability
3
Cheesy Tomato-Basil Stuffed Chicken
Old-School Habits That Will Save Your Wallet
4
The Future of UK Forestry
20 MILLION TREES TRANSFORM TOMORROW The Path to a Better Planet
The seeds for the future of our environment have been planted in the United Kingdom.
century. Perhaps most significantly, nearly 75% of the planned Western Forest will consist of farmland, introducing a strong probability of significant economic benefits for the area’s agricultural industry. Shaping a Sustainable Future The Forest of Avon, a UK-based charitable organization devoted to expanding and sustaining trees and woodlands, will oversee the project’s implementation. “[T]he Western Forest will enhance, connect, and improve our urban and rural landscapes, support investment into the region, create jobs and skills opportunities, and bring the endless benefits we get back from planting and caring for our trees,” noted Forest of Avon Chief Executive Alex Stone. “It is a
very exciting time for this region, and we look forward to helping shape what the Western Forest will become.” Positivity Across the Pond In addition to its clear environmental benefits, forestry plays a signature role in the American economy. According to the U.S. Department of Agriculture, forestry activities generate more than $13 billion annually. Additionally, research suggests that strolling through the trees or engaging in other natural settings improves people’s focus and lowers their stress levels. Whether here or abroad, your body and spirit would do well to get out in nature and visit a forest now and then — and by 2050, you’ll have 20 million more reasons to do so.
Earlier this year, the UK government announced the creation of the Western Forest, an initiative to plant 20 million trees over 600 acres by 2050. Spanning Gloucestershire, Wiltshire, and the West England countryside and bolstered by nearly $10 million in government funding, the project aims to reduce greenhouse gas emissions, strengthen biodiversity, help prevent the decline of rare species, prevent flooding, and bring millions of residents closer to nature. In addition to being the first new forest of its kind in the UK in 30 years, the Western Forest project is an ambitious step forward in the government’s goal of increasing tree and woodland cover by more than 15% within the next quarter-
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