Judy Sypult joined Douglass Financial Services in February 2025 as a Client Services Assistant. As the CSA, she assists the Financial Advisor Assistant with key processes as it relates to client operations and helps prepare client tax return paperwork and invoicing.
Judy grew up in the Pontiac and Cornell area and graduated from Pontiac Township High School in 1989. She married her husband, Keith M Sypult in May 1996. She's a very proud mom of 2 adult children. Rachael is 26 years old and lives in Phoenix, AZ and Connor, a 24-year-old from Pontiac, IL. She loves spending time with her family and also enjoys being outside working in her yard and planting flowers. In her free time you will find her relaxing in her hot tub.
Effective wealth transfer within families hinges on open communication and early financial education. Research from The Northern Trust Institute reveals that families who engage in detailed discussions about inheritance are better positioned for successful wealth transitions. Notably, 79% of respondents have provided their children with financial education, yet 48% still express concerns about the next generation's preparedness to manage wealth.
To bridge this gap, it's crucial to initiate conversations that clarify the family's financial landscape and the responsibilities that come with it. Emphasizing core family values and shared goals can further strengthen these discussions, ensuring that wealth serves to maintain lifestyles, support descendants, and contribute to philanthropic endeavors. By fostering an environment of transparency and continuous learning, families can navigate the complexities of wealth transfer more effectively, aligning financial assets with the family's overarching mission and values
Our office is always looking to provide the most reliable and efficient ways to communicate with you. Here is a brief recap of the various ways we can be reached:
TELEPHONE // Pontiac: 815-842-4393 // Bloomington: 309-290-3743 If no one is available to answer your call, you can always leave a voice message which we will receive and forward to the appropriate person in order to respond to you in a timely manner.
E-MAIL // All our staff have an email address that is part of a Transport Layer Security (TLS) platform that allows us to send and receive messages in a secure manner. When we need to communicate non-public information electronically with you, we utilize the TLS system by using the words “secure” in the subject. Remember that if you are sending or returning any non-public information to our office, you must send the information in a secure manner from your own email program.
TEXT MESSAGES // Both of our advisors can receive and send text messages using HEARSAY RELATE Business text messaging. Please remember that text messages are NOT ENCRYPTED and should therefore not contain confidential information. Please contact Denise or Susan if you would like to access this means of communicating with David or Darrell.
Please continue to reach us via our general office number 815-842-4393 (consider adding Douglass Financial to your phone contacts). From there, we are able to direct you to our Bloomington office and/or directly to the person you would like to reach.
100 Women for Good Bloomington-Normal is an impactful organization with a very simple concept. Gather 100 women, who are each willing to donate $100 three times a year to local nonprofit organizations. Selected local nonprofits promote their mission at a meeting and the members vote that night on who will receive $10,000. Such a HUGE impact. Chapters are popping up across the country, so if don't live in the area, you might find a local group. To learn more, check out their website: 100womenforgoodbn.org
The Medicare Open Enrollment is once again upon us. As it pertains to prescription drug coverage this means good news for some, with “not so good news” for others.
In 2024, the maximum out-of-pocket expense for an individual was $8,000. This meant that a person could be responsible for up to $8,000 towards the cost of their medicines during the course of the year. The Prescription Drug Plan would pick up the cost of the rest of the medicines at 100%.
For 2025, the Inflation Reduction Act, which was passed by Congress, mandated that the Part D maximum for which a person could be responsible has been reduced to $2,000, after which the insurance company would then pick up the balance.
Unfortunately, to offset their potential increase in financial responsibility, the insurance companies have not taken this quietly. Many of you will see large increases in your premiums or higher co-pays toward the cost of your medicines than you experienced in 2024. For those with significant drug costs the difference between the $8,000 and the $2,000 maximum out-of-pocket could result in a significant savings in 2025. By the same token, individuals who take very few medications (if any) will probably not be happy with the increase in premiums. You can see why Medicare beneficiaries would have differing opinions regarding this change.
One other piece of information is that the dreaded “donut hole” will no longer be in existence. Once you’ve reached the $2,000 level, everything will be covered at 100%. It is that simple. My recommendation is that you shop around until you find the plan most suitable for your needs.