Retirement Planning articles
Roth Conversions: Traversing the Path to a Tax-Free Retirement
We take a look at the new rules for FDIC insurance limits for bank deposits owned by trusts. The good news: It will be simpler to calculate.
Roth Retirement Savings Strategies
We take a look at the new rules for FDIC insurance limits for bank deposits owned by trusts. The good news: It will be simpler to calculate.
Using Qualified Charitable Distributions to Support Charities
Exploring the Power of a Deferred Sales Trust for Financial Flexibility
Business Health and Employee Financial Wellness
Financial wellness programs are a win-win for employers and employees. We break down why it’s a smart move for businesses.
Maximizing Profits and Tax Efficiency
Exploring the Power of a Deferred Sales Trust for Financial Flexibility
Key Provisions of the SECURE Act 2.0
The new law expands savings opportunities and provides a new option for unused 529 plan balances.
U.S. stock market forecast ahead of the 2022 midterm elections
U.S. midterm election years have generally been the weakest for the stock market in a presidential term. Will history forecast how the upcoming elections affect the U.S. stock markets?
SECURE Act 2.0
Congress is considering another bipartisan retirement bill called the Securing a Strong Retirement Act (SECURE Act 2.0). If it passes, here are two proposed changes that will primarily affect retirees and those approaching retirement.
Why you might be charged higher Medicare Premiums during retirement
See how Medicare premiums are affected by IRMAA and what to consider if it happens to you.
ViewPoint – A Letter From the Desk of Jim Arens – October 2021
We pride ourselves on helping take care of our clients, but did you know we can help take care of your employees as well?
The Home-Buying Boom
Suggestions on how to make the most of the booming real estate market.
One For the History Books
With more free time in 2020, Nick dived into the U.S. history. Check out his favorite non-fiction books.
The Importance of Preventive Financial Care
Its better to be safe than sorry. Make your estate planning a priority in 2021.
Through Thick And Thin
2020 was without a doubt an interesting year. Despite all the challenges, the economy rebounded sharply. What does the future have in store for 2021?
Walden, Donuts and Estate Planning
Lessons on estate planning from Thoreau’s masterpiece.
One Hundred Years Later – Dispatches From Route 66
Are you suffering from Presidential Election Fatigue? Let’s take a look at the 1920 U.S. Election for some healthy historical perspective.
2021 Retirement Plan Contribution Limits
Learn how much you can contribute in 2021 toward your retirement.
More Confidence, Less Cash – Dispatches From Route 66
What will it take to get us back on the horse and reignite the U.S. economy?
A Leader’s Legacy – Saying Farewell to Tom Wilkins
Recently, Thomas W. Wilkins retired as CEO of Trust Company of Oklahoma after 30 years serving our clients. He will remain as Chairman of our Board of Directors and the values he has instilled in all of us are his strongest legacy.
It Takes a Team – The Recipe for Successful Estate Planning
Couples get better investment results when both spouses discuss their views with their financial professionals.
Disconnected and Detached – Stock Market v. Economic Reality
A comprehensive overview of the stock market in 2020.
Hazards of Other People’s Money
Six tips to avoid mistakes and litigation when serving as individual trustee.
To Infinity and Beyond – Dispatches From Route 66
It’s an Apple-and-Tesla new world. Let’s talk about paradigm shift.
Estate Planning for Children Moving Out
The essential estate planning documents to ensure your new adult is legally and financially prepared for adulthood.
The Trend Is Your Friend
Investment management in the time of COVID-19, government interference, and low interest rates. Keep an eye on the trends.
Trust Company of Oklahoma Promotes Jim Arens to Chief Executive Officer, Michael Hopper to Chief Operating Officer
Tulsa World, July 26, 2020
James F. Arens II, CFA is Trust Company of Oklahoma’s new Chief Executive Officer (CEO) and Michael Hopper, CFP®, CTFA its Chief Operating Officer (COO). Thomas W. Wilkins is retiring as CEO after thirty years with the Tulsa-headquartered firm. Tom will continue to serve on the company’s Board of Directors.
James F. Arens, II
Jim joined Trust Company of Oklahoma (TCO) in 1997. For 12 years, he served as the company’s Chief Investment Officer and became President in 2019. Jim is also a member of TCO’s Board of Directors. He earned a Bachelor’s in Finance and Accounting from Southern Methodist University and an MBA from the University of Texas at Austin. Jim holds the Chartered Financial Analyst designation, is past president of the CFA Society of Oklahoma and is active in the CFA Institute.
Jim serves on Tulsa’s Gilcrease Museum National Board, the Asbury United Methodist Church Administrative Council and as Chairman of the University of Tulsa Student Investment Fund Board. He also serves on the investment committees for Holland Hall and the University of Texas MBA Student Investment Fund. Additionally, he is a member of the Young Presidents Organization (YPO) in Tulsa.
“Jim has demonstrated dedication to our clients and to the company for over two decades. His experience as Chief Investment Officer at TCO, along with his management skills, are two of the many reasons why our company is in great hands,” stated Thomas W. Wilkins. “I can’t wait to see TCO continue to grow under Jim’s leadership,” he added.
Michael Hopper
Michael has been with TCO since 2013. He is an Executive Vice President, a member of the Board of Directors, and Manager of the Agency Division. Michael serves individuals, families and businesses with trust management, retirement planning and financial advice. Prior to joining TCO, he accumulated nearly 10 years of insurance and investment experience.
Michael has a Bachelor’s of Business Administration in Economics from the University of Oklahoma. He is the current President of the Tulsa Estate Planning Forum. Michael is a Certified Financial Planner (CFP®) professional and holds the Certified Trust and Financial Advisor designation.
About Trust Company of Oklahoma
Trust Company of Oklahoma is the oldest and largest independent trust company in the state, with locations in Tulsa and Oklahoma City. Founded in 1981, the firm provides asset management and unbiased financial advice for individuals, families, and other organizations in Oklahoma and throughout the country. TCO currently manages approximately $4.5 billion in client assets.
Protecting Your Loved Ones
Oklahoma families now have the right to install monitoring cameras in assisted living residents’ rooms. This could help avoid abuse and neglect, but also provide peace of mind during lockdowns. Read Lesa Creveling’s article on Tulsa World.
The Price of Greatness – Dispatches From Route 66
Philip Mock reviews TV series about Michael Jordan.
The Winding Road to Recovery
2020: Reasons to stay optimistic about the economy while working towards the end of the pandemic.
Love, Give & Receive
Congress makes charitable giving even more attractive. Read more.
Feeling More Secure After the SECURE Act
IRA and estate planning without the stretch provision.
Government Funds Breakthrough Vaccine Research
Learn more about the federal agencies funding development of the COVID-19 vaccine.
Returning Stimulus Payments Made to Deceased Individuals
Have you received a stimulus payment made to your deceased spouse? Here is how to return it.
Adoption and Estate Planning
If you (or a family member) ever placed a child for adoption and don’t want him to be an heir, you should revisit your estate planning documents.
Collective Healing Process – Dispatches From Route 66
The current pandemic created tough challenges for our community. And much like the OKC Bombing 25 years ago, we are collectively supporting each other. Read more.
Subzero Oil Prices and the Storage Problem
U.S. crude sold at -$37.63 a barrel on Monday, a historic drop below zero. How did we get to this point in the oil and gas industry?
What Will Your “New Normal” Look Like?
How will the COVID-19 social distancing affect your life going forward? Read.
Don’t Touch Your Portfolio (Or Your Face!) – Dispatches From Route 66
Investment Dos and Don’ts During Recession.
CARES Act Signed by President Trump Impacts Retirement Plans
Historic financial stimulus bill includes provisions that impact retirement plans and how businesses can support employees affected by the COVID-19 outbreak.
Outlast The Storm
You can’t control the stock markets nor stop COVID-19. Managing investments in the midst of the pandemic.
The End of the Stretch IRA
The SECURE Act eliminated a popular feature, the “Stretch IRA.” Learn how this will impact your estate planning and charitable contributions.
Tax Day Delayed To July 15
As COVID-19 grips the nation, the IRS delayed the deadline to file and pay federal income taxes. Read more.
Our Response To COVID-19
Our offices are open and our services continue uninterrupted. Read more.
Don’t Let Fear Paralyze You
In times of uncertainty with stock market and health concerns, it is easy to let fear paralyze us. Read Lesa Creveling’s article.
Buying or Renting? – Dispatches From Route 66
We are often asked about the trade-offs between buying and renting a home. In this article, Nick Gallus offers some general advice and observations to help you navigate this decision.
Why Have TCO Serve as Your Corporate Trustee
Although you may ask a relative or a friend to be your trustee, a corporate trustee can be a wiser choice. Learn more.
Guardianship Checklist
While confronting mortality can be difficult for any parent, it’s beneficial to leave your nominated guardian with a guide for raising your children in the event of your absence or incapacity. Learn more.
How the SECURE Act Affects Your Retirement Plan
Learn how the SECURE Act provisions for 401(k) plans may affect your retirement plan and the retirement of your employees.
All Bets on the Underdog – Dispatches From Route 66
If you are considering taking a vacation in 2020, book it sooner rather than later. Learn more.
Planning for Addict Beneficiaries
While the topic of substance abuse in families can be difficult, it’s a growing epidemic that is important to take into account when estate planning.
Phone Scam Alert
Do not fall for the Suspended Social Security Number scam.
Off the Beaten Path: Hidden Gems in the US – Dispatches From Route 66
If you are considering taking a vacation in 2020, book it sooner rather than later. Learn more.
A Beneficial New Year’s Resolution
Some resolutions are hard to accomplish. This one is easy – but very important, especially with the passage of the SECURE Act.
SECURE Act Significantly Impacts Your Retirement Planning
If you have an IRA heading into 2020, here’s what you need to know about the new tax law and how it may impact your retirement and estate planning.
Doing the Limbo
Our Chief Investment Officer looks back at 2019. Stock returns were very strong, but the bond market forced investors to play the limbo game.
Final Edition – Bob’s Market Observations
For your sake, I have decided to wrap up with a single reminder I regularly direct at myself.
New Year’s Resolution: Revisit Your Estate Plan
Now that the holidays are officially behind us, many of you are revisiting that final vestige of the season: the resolution list.
Be a Responsible Property Owner: Properly Store Your Documents
While record-keeping can be a tedious task, it’s essential to being a responsible property owner.
It’s Cyber Monday for Cyber Criminals, Too
While we are online looking for the best deals, cyber criminals are looking for opportunities to steal our sensitive information. Learn how to protect yourself.
Passing Down the Family History – Bob’s Market Observations
It’s not just transferring material wealth to our children and grandchildren that we should focus on, but our own personal histories. Read more.
A Christmas Gift to Your Future Self
Make your end-of-year bonus increase your retirement readiness. Take a look at how much you can contribute in 2020 towards your retirement plan.
Graduating From the Kids’ Table
While dividing attendees into two tables works well for a packed house during the holidays, don’t apply this philosophy to estate planning.
Understand Proposed IRA Changes Before Making Estate Planning Decisions
Changes may be on the horizon for legislation regarding Individual Retirement Accounts (IRAs). Understanding and reviewing the proposed bills is prudent before making estate planning decisions.
Financial Parenting: Teaching Your Kids Financial Responsibility – Bob’s Market Observations
The financial beliefs we pass down to our children can have a significant effect on their financial outcomes. Read more.
Chill Before Serving to Avoid Family Litigation
Litigation can be destructive to families, both financially and emotionally. Learn how families can avoid the courts to settle their differences.
What A Waste – Bob’s Market Observations
Food waste is a serious environmental problem in the United States and other parts of the world. Fortunately, there are efforts along the chain from the farm to the consumer to help reduce waste.
Bob McCormick Hits the Open Road
Our colleague is taking an early retirement at the end of the year. Although we don’t normally announce retirements in this publication, it is important to note a few of Bob’s lasting impacts on us, his colleagues.
Where There’s a Will…
What do Aretha Franklin, President Abraham Lincoln and Prince have in common? Find out.
Upside Down
Making Sense of the Recent Yield Curve
How to Talk To Your Heirs About Your Estate Plan Without Ruining Your Relationship With Them
There can be big benefits to your family knowing your estate plan. But how to communicate to your heirs who gets what without spoiling the relationships with each of them?
What Does Your Family Look Like?
Family structures have become more complex over the last few decades. Most households are now the result of blended families with working moms, adopted kids, second marriages, and the list goes on. Your estate plan needs to be customized for your specific situation.
IRA: Why, When & How Often?
Here we share some important guidance on when to withdraw funds from your IRA. While withdrawal may seem like an easy task, you may find yourself paying more in taxes than necessary.
The Risk Of Negative Interest Rates In The U.S. – Bob’s Market Observations
Understand the risk of negative interest rates in the U.S.
Don’t Judge A Book (Or A Nursing Home) By Its Cover
Selecting an assisted living facility for a parent or grandparent is not an easy job. Understand a few key components to ensure quality care and happiness for your loved ones.
The Fiduciary Rule: What It Means For You
We have served our clients with a fiduciary duty since our founding in 1981.
Two Rules To Live By – Bob’s Market Observations
Life’s better when you follow those two simple principles.
Alzheimer’s And Dementia Patients Are Easy Prey For Scammers
Avoid being a victim of financial exploitation.
Don’t Be A Silo
Individual trustees do not need to face all the challenges alone.
ViewPoint – Why Clients Do Business With Us
I have many reason to be proud of who we are and the services we offer
The New Tax Law & the Economics of Divorce
Understand the new tax law before untying the knot
Honey, We Forgot The Car!
How to handle cars in estate planning
Trying Not To Be a Dodo
Changing Political Climate Threatens Fiscal Conservative Species
Is Fiscal Discipline Extinct? – Bob’s Market Observations
Does anyone care about government spending and debt? And who will pay the bill?
How Health Problems Become Wealth Problems
Effective retirement planning involves being healthy. Learn how to protect your wealth and your health after you retire.
Row, Row, Row Your Boat
Are you, your family members and professional advisors rowing in the same direction when it comes to your estate plan?
Collecting Spousal Social Security Benefits
Social Security benefits are an important component to retirement planning. Here’s what you need to know about receiving Social Security on your spouse.
Staying on The Yellow Brick Road
Financial exploitation and elder abuse continue to rise. How can you protect yourself and your lifetime savings? Read Lesa’s article.
They Want To Take Away Your Burgers – Bob’s Market Observations
There’s been a growing buzz about cow’s flatulence contributing to global warming. What does that have to do with land usage and the economy? Read more.
Beyond Our Borders: Why You Should Be Investing in International Markets
It is important to invest in international stocks. Here’s why.
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