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FULBRIGHT FINANCIAL CONSULTING, PA 

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Black Lives Matter: Business Movement With Mary-Frances Winters and Ed Fulbright on Mastering Your Money Radio

The Black Lives Matter movement is an international symbol of racial solidarity in face of countless atrocities against people of color across the planet. Its progress is not just the result of political and corporate reactions to outrage fueled by the murders of George Floyd, Breonna Taylor and many others but with the Black communities struggles for equity for centuries. People of color are exhausted from the long history of blatant racism. Covid-19 and a Racist System is not just killing Black people. It is tearing the whole nation apart. In every aspect of life, from socioeconomics to education, the workforce, criminal justice and very importantly, health outcomes, for the most part the trajectory for Black people is not improving. Major corporations, Non-profits and the US government are making grants available for Black Owned Small Businesses which are helpful but not the solution. Joining us for our discussion on Black Lives Matter: Business Movement is Mary-Frances Winters who is on the phone from her Charlotte NC office. Mary-Frances Winters is the founder and president of the Winters Group Inc. She has been helping clients create inclusive environments for over three decades. She was named a top ten diversity trailblazer by Forbes and a diversity pioneer by Profiles in Diversity Journal and is the recipient of the prestigious ATHENA Award, as well as the Winds of Change Award conferred by the Forum on Workplace Inclusion. Winters is also the author of We Can't Talk about That at Work, (named by Forbes as one of 11 books for leaders to read), and Inclusive Conversations. Her latest book is Black Fatigue: How Racism Erodes The Mind, Body and Spirit . Welcome to Mastering Your Money, Mary-Frances Winters.

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Poverty Rate Dropped Again in 2019, In Sign Of Progress

At Fulbright Financial Consulting, PA in Durham, NC, this is a good sign for the economy but we would love for it to be lower. Progress is like watching paint dry: It happens so slowly and in such unpredictable streaks that you can easily miss what’s going on right before your eyes! So it goes with the newly released annual report on poverty in the United States from the U.S. Census Bureau. At a time when the world seems like it’s changing faster than ever, and not always for the best, the poverty rate dropped again in 2019, to a new all-time low.

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Finding Money For Entrepreneurs with Wayne Titus III and Ed Fulbright on Mastering Your Money Radio

Covid-19 has created a lot of financial worries, which can wreak havoc for entrepreneurs — from business decisions to personal relationships. PPP loans may be a lifeline, but only if there’s plan in place to ensure everything’s done by the rules and the documentation to prove it — or business owners may miss out on loan forgiveness.

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Race and Money with Dr. Adia Harvey Wingfield and Ed Fulbright on Mastering Your Money Radio

What happens to black health care professionals in the new economy, where work is insecure and organizational resources are scarce? Today we will discuss how hospitals, clinics, and other institutions participate in “racial outsourcing,” relying heavily on black doctors, nurses, technicians, and physician assistants to do “equity work" extra labor that makes organizations and their services more accessible to communities of color. These organizations become more profit driven, they come to depend on black health care professionals to perform equity work to serve increasingly diverse constituencies. Yet black workers often do this labor without recognition, compensation, or support. Operating at the intersection of work, race, gender, and class, We will the challenges that black employees must overcome and reveals the complicated issues of inequality in today’s workplaces and communities. Joining us for our discussion on Race and Money is Adia Harvey Wingfield who is on the phone from her St. Louis Mo office. Adia Harvey Wingfield is a Professor of Sociology and a Faculty Fellow in the Office of the Provost. Adia’s research focuses on the processes that maintain racial and gender inequality in professional workplaces. She has lectured internationally on her research this area, and has published her work in numerous peer reviewed journals including Gender & Society, Social Problems, and American Behavioral Scientist. Adia is also the author of several books. In addition to serving as a Faculty Fellow, she is also President of Sociologists for Women in Society, a professional organization devoted to advancing gender equality in sociology. Her latest book is Flatlining: Race, Work, and Health Care in the New Economy Welcome to Mastering Your Money, Adia Harvey Wingfield .

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Covid Hits Private Wealth

Covid Hits Private Wealth The Coronavirus is leaving a path of economic devastation, transforming the landscape of investing and taxation, and it’s challenging families to act on new risks and opportunities in managing their wealth. It’s an abrupt change in conditions, and it amounts to a "perfect storm“ threatening family wealth. Across the nation, state governments are forecasting huge budget shortfalls State and city tax revenues have plunged in the pandemic but government services, like transportation and police, continued to be provided, with no letup in expenses. Meanwhile, federal government emergency stimulus payments to individuals and financial aid to businesses have added a whopping $2.4 trillion to Uncle Sam’s long-term debt! And for the first time, the national debt is larger than the annual gross domestic product! With hikes to state and federal income taxes as well as transfer taxes on the horizon, it’s wise to review your situation with this new tax outlook in mind. For individuals with taxable estates, the current $11.58 million per person exemption from estate and gift tax will be cut in less than half on January 1, 2026. However, the exemption amount could be slashed much sooner, depending on the outcome of the November 3 election. Maximizing annual gift-tax exclusions, making charitable donations, and establishing trusts can make a big difference in preserving your family’s values, and the downside risk of failing to plan has increased. Every month, the IRS releases the minimum interest rates you are permitted to charge on loans to family members, trusts, and other entities. With this "applicable federal rate" currently at less than 1%, loans may be a savvy way to transfer wealth to the next generation for buying a home, starting a business, or making charitable bequests. With the pandemic potentially lowering the value of real estate and business assets, and frequently causing stock market volatility, optimizing low rates to make intrafamily loans may suddenly be a more viable solution to reduce taxes and boost your legacy. Finally, with tenants more often unable to pay rent, and a tidal wave of small business failures expected, landlords and business owners suddenly face an explosion in their liability exposure. Asset protection strategies to mitigate personal liability and creditor exposure require preparation before a problem arises or may not hold up to legal challenge. The destruction wrought by the virus crisis has changed tax and financial conditions and requires proactive engagement of family members as well as advice from tax, legal and financial professionals. Please contact us with any questions or to set up a meeting fulbrightteam@moneyful.com , and don't hesitate to share this video with people who might benefit from our work

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Covid Crisis and Your Financial Affairs

.Covid Crisis And Your Financial Affairs The Covid pandemic is causing families unimaginable suffering and grief, and it’s forcing many individuals to confront mortality, to consider in very real terms what will happen when their life is coming to an end. What happens to you at the end of your life is governed largely by a handful of documents. A durable power of attorney permits someone else to manage financial matters while you’re living, empowering someone you name to pay bills, write checks, or sell and purchase assets on your behalf. A health care proxy and living will names someone to make medical decisions if you’re unable to express your wishes and contains instructions about end-of-life care. This is top-of-mind for a lot of people now, understandably. A last will and testament provides the details take effect at your death for disposing of your property, and should be reviewed annually to make sure that the trustee and executor as well as guardians of minor children you appoint conform to your current wishes. A revocable trust also provides for the disposition of your property after you die but avoids the probate court process. Because courts across the country were shut down for a time and are are dealing with a surge in filings and probate cases due to the pandemic, it’s more important to have a revocable trust to avoid probate court delays. To set up a revocable trust, you’ll need to retitle bank and brokerage accounts, real estate, and other assets, so it involves signing documents with a witness present and this has become more complicated during this time of social distancing, but remote signings can be done online. It’s important to speak with family and friends, or whomever you’re appointing, about your wishes, so that they’re aware of your plans. You also want to be certain beneficiary designations on retirement plans and life insurance policies are up to date. Please contact us with any questions or to set up a meeting fulbrightteam@moneyful.com , and don't hesitate to share this video with people who might benefit from our work

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