Read FineMark’s 1st Quarter Shareholder’s Letter from the President, Joseph R. Catti. Dear Shareholder, On behalf of the Board of Directors, the executive management team and all of the dedicated associates of FineMark National Bank & Trust, I am pleased to report on the bank’s performance for the first quarter ending March 31, 2018. FIRST …
FineMark Trust Mobile App
FineMark’s dedicated mobile app for trust and investment accounts is now available! The app is a powerful resource, providing access to your account information from the palm of your hand. Simply click, tap or swipe to view account positions and transaction activity, 24 hours a day, seven days a week. The app’s streamlined, easy-to-use pages …
2018 First Quarter Review and Commentary
FINE POINTS, The Quarterly Trust and Investment Publication of FineMark National Bank & Trust April 2018 | Volume 3 | Issue 2 Domestic equity markets posted losses during the quarter, which was the first decline we have experienced since Q3 of 2015. We spilled a fair amount of ink in our 2017 newsletters, detailing the …
Are Charitable Pledges Enforceable Against an Estate?
As with most legal questions, the answer to the question above is “it depends.” A charitable pledge (oral or in writing) is defined as a contract between a donor and a charity in which the donor promises to make a contribution in the future, such a pledge may be enforceable. In Mt. Sinai Hospital, Inc. …
2017 Audited Consolidated Financial Statements
Recent Changes in the Markets
First reported on February 8, 2018. Market activity in recent days has been much more volatile than anything we have experienced over the past year. This current period reminds us of the old Wall Street adage “markets take the stairs up and the elevator down.” FineMark’s investment group has been closely monitoring the markets and …
2017 Fourth Quarter Review and Commentary
FINE POINTS, The Quarterly Trust and Investment Publication of FineMark National Bank & Trust January 2018 | Volume 3 | Issue 1 Nearly across the board, 2017 was an excellent year for investors in all asset classes, particularly equities. It will be a tough act to follow. The 2017 upward move in equities was marked …
The New Tax Law: What You Need To Know
When the new Federal tax reform Bill was signed into law in late 2017, the entire landscape of American taxation changed. Knowing the nature and extent of these changes will allow you to work more effectively with your tax and wealth advisors. PERSONAL INCOME TAXATIONPerhaps most broad reaching is the change to the individual tax …
An Ounce of Prevention
Tax Changes Are Most Likely Coming – So What Can Be Done This Year To Minimize Taxes Next Year? Information updated 12-19-2017 The details of the Federal tax plan have been reconciled (herein referred to as the “reconciled tax bill”), so we know with a bit more certainty which tax changes are actually coming. The …
2018 Social Security and IRS Updates
SOCIAL SECURITY BENEFITS TO INCREASE BY 2% Social Security. The Social Security Administration has announced that monthly Social Security benefits will increase 2.0% in 2018. The 2.0% Cost of Living Adjustment is tied directly to the Department of Labor’s Consumer Price Index as determined each year by the Department of Labor’s Bureau of Statistics. The …
2017 Third Quarter Review and Commentary
FINE POINTS, The Quarterly Trust and Investment Publication of FineMark National Bank & Trust October 2017 | Volume 2 | Issue 4 The third quarter cruised along in much of the same fashion as 2017 has to date. Equity markets continued to make new highs in the US with the S&P up +4% in the …
Charitable Tax Deductions through IRA Distributions
Tax payers age 70 ½ or older who are required to take mandatory distributions (RMDs) from their IRAs, but do not need the additional income to meet living expenses, may exclude all or a portion of their RMD from gross income through a Qualified Charitable Distribution (QCD). Last year the Pension Protection Act of 2006 …
