Retirement Planning articles
Exploring the Power of a Deferred Sales Trust for Financial Flexibility
The new law expands savings opportunities and provides a new option for unused 529 plan balances.
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?
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.
See how Medicare premiums are affected by IRMAA and what to consider if it happens to you.
We pride ourselves on helping take care of our clients, but did you know we can help take care of your employees as well?
Suggestions on how to make the most of the booming real estate market.
With more free time in 2020, Nick dived into the U.S. history. Check out his favorite non-fiction books.
Its better to be safe than sorry. Make your estate planning a priority in 2021.
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?
Lessons on estate planning from Thoreau’s masterpiece.
Are you suffering from Presidential Election Fatigue? Let’s take a look at the 1920 U.S. Election for some healthy historical perspective.
Learn how much you can contribute in 2021 toward your retirement.
What will it take to get us back on the horse and reignite the U.S. economy?
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.
Couples get better investment results when both spouses discuss their views with their financial professionals.
A comprehensive overview of the stock market in 2020.
Six tips to avoid mistakes and litigation when serving as individual trustee.
It’s an Apple-and-Tesla new world. Let’s talk about paradigm shift.
The essential estate planning documents to ensure your new adult is legally and financially prepared for adulthood.
Investment management in the time of COVID-19, government interference, and low interest rates. Keep an eye on the trends.
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 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.
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.
Philip Mock reviews TV series about Michael Jordan.
2020: Reasons to stay optimistic about the economy while working towards the end of the pandemic.
Congress makes charitable giving even more attractive. Read more.
IRA and estate planning without the stretch provision.
Learn more about the federal agencies funding development of the COVID-19 vaccine.
Have you received a stimulus payment made to your deceased spouse? Here is how to return it.
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.
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.
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?
How will the COVID-19 social distancing affect your life going forward? Read.
Investment Dos and Don’ts During Recession.
Historic financial stimulus bill includes provisions that impact retirement plans and how businesses can support employees affected by the COVID-19 outbreak.
You can’t control the stock markets nor stop COVID-19. Managing investments in the midst of the pandemic.
The SECURE Act eliminated a popular feature, the “Stretch IRA.” Learn how this will impact your estate planning and charitable contributions.
As COVID-19 grips the nation, the IRS delayed the deadline to file and pay federal income taxes. Read more.
Our offices are open and our services continue uninterrupted. Read more.
In times of uncertainty with stock market and health concerns, it is easy to let fear paralyze us. Read Lesa Creveling’s article.
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.
Although you may ask a relative or a friend to be your trustee, a corporate trustee can be a wiser choice. Learn more.
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.
Learn how the SECURE Act provisions for 401(k) plans may affect your retirement plan and the retirement of your employees.
If you are considering taking a vacation in 2020, book it sooner rather than later. Learn more.
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.
Do not fall for the Suspended Social Security Number scam.
If you are considering taking a vacation in 2020, book it sooner rather than later. Learn more.
Some resolutions are hard to accomplish. This one is easy – but very important, especially with the passage of the SECURE Act.
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.
Our Chief Investment Officer looks back at 2019. Stock returns were very strong, but the bond market forced investors to play the limbo game.
For your sake, I have decided to wrap up with a single reminder I regularly direct at myself.
Now that the holidays are officially behind us, many of you are revisiting that final vestige of the season: the resolution list.
While record-keeping can be a tedious task, it’s essential to being a responsible property owner.
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.
It’s not just transferring material wealth to our children and grandchildren that we should focus on, but our own personal histories. Read more.
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.
While dividing attendees into two tables works well for a packed house during the holidays, don’t apply this philosophy to estate planning.
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.
The financial beliefs we pass down to our children can have a significant effect on their financial outcomes. Read more.
Litigation can be destructive to families, both financially and emotionally. Learn how families can avoid the courts to settle their differences.
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.
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.
What do Aretha Franklin, President Abraham Lincoln and Prince have in common? Find out.
Making Sense of the Recent Yield Curve
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?
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.
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.
Understand the risk of negative interest rates in the U.S.
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.
We have served our clients with a fiduciary duty since our founding in 1981.
Life’s better when you follow those two simple principles.
Avoid being a victim of financial exploitation.
Individual trustees do not need to face all the challenges alone.
I have many reason to be proud of who we are and the services we offer
Understand the new tax law before untying the knot
How to handle cars in estate planning
Changing Political Climate Threatens Fiscal Conservative Species
Does anyone care about government spending and debt? And who will pay the bill?
Effective retirement planning involves being healthy. Learn how to protect your wealth and your health after you retire.
Are you, your family members and professional advisors rowing in the same direction when it comes to your estate plan?
Social Security benefits are an important component to retirement planning. Here’s what you need to know about receiving Social Security on your spouse.
Financial exploitation and elder abuse continue to rise. How can you protect yourself and your lifetime savings? Read Lesa’s article.
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.
It is important to invest in international stocks. Here’s why.
Two people very close to me passed away recently. My wife’s grandmother and Ed, a family friend. They reminded me of life’s greatest mystery.
A Durable Power of Attorney is a super document. It allows a trusted representative to act in your place. Learn how a DPOA can help you.
“Why should anyone hire Trust Company of Oklahoma to serve as corporate trustee and invest the assets if a family member can do it for free?” she asked me. Here’s what I responded.
Are you a small business owner or investor? Please meet Qualified Business Income (QBI) deduction.
Batman, the first comic strip trust fund baby, turns 80 today. What lessons can we draw from the Dark Knight?
Luckily, one day, Bob discovered that a beneficiary document his aunt signed could put her estate plan at risk of entering the troubled probate waters.
Easily find out how much you owe the IRS on income taxes, long-term investment capital gains taxes, or trust taxes. A printable cheat sheet to keep on your desk.
“Many jobs in the future aren’t even in existence today.” Are we unprepared for what’s coming? Read more.
Each day, Alzheimer’s or dementia patients are at a high risk of being financially exploited. Learn how to spot it and how to prevent it.
The oil and gas market has been a rollercoaster. Oil barrels reached the $75 price range then dropped again. What does 2019 hold for the energy industry?