Our April 2026 Newsletter: The Ultimate Estate Planning Checklist

All of us at Saratoga Financial Services are thrilled to welcome Tim Katusha to our team as a Wealth Advisor! We’d like to assure you that our team remains intact and we’re simply growing – Bob, Jamie, Drew & Kate aren’t going anywhere!

Tim brings more than 25 years of experience in the financial markets to SFS, having worked in the investment planning industry with leading firms, gaining experience across equities, fixed income, and alternative investments. He also spent several years working with portfolio managers and hedge funds to analyze portfolios and better understand the money management process. This experience has given Tim a deep understanding of market cycles, portfolio construction, and investment planning.

Timgraduated from St. Bonaventure University, where he earned a bachelor’s degree in finance. He lives in Saratoga Springs with his wife, Jenn, and their two sons, Jackson and Alex. An active member of the community, Tim serves as a Trustee of the Saratoga Springs Rotary Education Foundation, which provides scholarship opportunities to support the next generation of Saratoga leaders.

The Ultimate Estate Planning Checklist

The idea of planning your estate can be daunting, but it’s an important step in ensuring your wishes are carried out after you die or become unable to speak for yourself. Contrary to popular belief, estate planning isn’t just for wealthy people. Whether you have a modest estate or sizeable assets, a well-crafted plan allows you to protect your legacy and the people you care about. In general, estate planning involves creating legal documents like a will and power of attorney that can help prevent a drawn-out legal battle. Having things in writing also can help keep taxes lower, ensure health care wishes are carried out, and address any financial obligations a person leaves behind after they die (so their family doesn’t have to). Think of your estate plan as a supportive and comforting safety net for your family. When your wishes are clearly spelled out in legal documents, they won’t have to guess what you would have wanted. That means less uncertainty and fewer disagreements, and quicker access to the resources they may need after you’re gone.

Here is a 10 Step Estate Planning Checklist:

1. Make a Will: Your will is the foundation of your estate plan. It outlines your wishes for distributing your property and assets and allows you to name an executor, beneficiaries, and guardians for any minor children or dependents.
2. Establish a Living Trust: A living trust is a legal document that lets you place your assets into a trust, meaning you can still use and control those assets while you’re alive, but they’ll go directly to your chosen beneficiaries when you pass away, avoiding probate.
3. Create Powers of Attorney:A power of attorney (POA) is a legal document that gives someone else (your “agent”) the authority to manage your affairs in certain circumstances - such as when you pass away or become incapacitated
4. Prepare an Advance Health Care Directive:Also known as a living will, an advance health care directive is a document that states your health care preferences in end-of-life or emergency situations. This document names someone (your “health care proxy”) to make medical decisions for you based on your wishes and what matters most to you.
5. Gather & Organize Key Documents: To make things easier for your executor and family members, it’s a good idea to gather and store important documents in one safe location. These documents may include (but aren’t limited to): birth & marriage certificates, property deeds & mortgage documents, insurance policies, bank & investment account statements, military service records
6. Review & Update Your Beneficiaries:Make sure your beneficiary designations are current on all financial accounts: life insurance, retirement accounts, bank accounts, brokerage accounts, etc.
7. Inventory Your Assets & Debts:Create a clear picture of your financial situation, making it easier for your executor to settle your estate
8. Plan for Your Funeral / Memorial Service:Leave your loved ones instructions for final arrangements that reflect your personal values and preferences. Be sure to outline specifics pertaining to burial or cremation and any desired music, readings, or religious elements. Consider prepaying or prearranging funeral or memorial services - this can help relieve the burden on your family after you’ve passed.
9. Store All Documents Safely:Once your estate planning documents are gathered and completed, keep all originals in a home safe or safe-deposit box. Tell your executor and trusted family members where to find it.
10. Discuss Your Plan with Your Family:Sharing your estate plan with family members now can prevent confusion, hurt feelings, and conflict down the road. Start by explaining your decisions related to your plan and your reasoning behind them. Let them know where to find important documents (e.g., your will) and share contact information for your attorney or financial advisor.

To read the full article, The Ultimate Estate Planning Checklist: A Step-by-Step Guide, clickhere. If you have any questions at all, please don’t hesitate to call our office at (518) 584-2555.

This information is not intended to be a substitute for specific individualized tax or legal advice. We suggest that you discuss your specific situation with a qualified tax or legal advisor.

New RMD Feature in Account View

The Required Minimum Distribution (RMD) feature in Account View displays your annual RMD amount for eligible retirement accounts - including Traditional IRAs, rollover IRAs, SEP IRAs, and SIMPLE IRAs. The RMD feature in Account View calculates your RMD amount using IRS life-expectancy tables and prior year-end balances, then displays that amount within the Balances. To view the full guide to using this new feature, clickhere, and don’t hesitate to call our office with any questions you may have: (518) 584-2555.

7 Hobbies That Could Add Years to Your Life

Hobbies aren't just a fun way to pass the time. They can boost productivity, spark creativity, and even promote longevity!

Here are the best hobbies for longevity according to experts:

1. Gardening:it's done with a purpose or goal of cultivating something to grow
2. Physical Activity:incorporating regular physical activity into your day (dancing, swimming, hiking or walking for example) - once you’ve done it, you’ll likely feel better about the day
3. Singing or Playing an Instrument: making music is about learning, creating something and enjoying the process; engaging in these activities may keep the brain young
4. Socializing: The Fisher Center for Alzheimer's Research Foundation adds that social interactions are "critical for healthy aging"
5. Volunteering:according to a Journal of Health Psychology review, people who are 70 and older and volunteer frequently tend to live longer than those who don't
6. Arts & Crafts:studies show arts and crafts (painting, knitting, crocheting, photography, or anything else that tickles your fancy!) are mentally stimulating, which in turn helps keep the brain sharp
7. Sleeping:improving our sleep habits and patterns can help decrease chronic morbidity and diseases, improve mindfulness; the Mayo Clinic reports recent research shows men who get a good night's sleep live about five years longer than those who don't; for women, it's two years

To read the full article, 7 Healthy Hobbies Experts Say Could Help You Live Longer & Feel Better, clickhere.

Springtime in Saratoga Springs!

The weather is finally feeling like spring, it’s time to get outside and enjoy the sunshine, the first blooms of the season, and all the things Saratoga Springs has to offer! Other than walking through the city to see all the gorgeous tulips in bloom, here are a couple of events you may want to add to your calendar:

• Saturday 4/11: The 2026 Saratoga Sustainability Fair: Connecting Ideas, Building Futures: Collaboration for a Sustainable Community! To be held at Skidmore College Intramural Gym from 10:00 – 2:00
•  Thursday 4/30: 23^rd Annual Dining Out for Life. A percentage or your check will be donated to the Alliance for Positive Health to provide housing, food, insurance, support, and access to care for people with and at risk for HIV/AIDS in northeastern New York. Click here to see a list of participating restaurants

For a complete list of local events, click here.