Scott Bishop

Retirement, Investing, Small Business
“With over two decades of experience in the financial industry, Scott Bishop believes that success isn’t measured only by figures and charts, but through his client's peace of mind and reaching their goals by Planning for Retirement the R.I.T.E. Way®.”

STA Wealth Management, LLC

Job Title:

Partner and Executive VP of Financial Planning


Scott Bishop is a Partner and is Exec. Vice President of Financial Planning at STA Wealth, a Houston based RIA Firm. In this role, Scott guides clients through the process of identifying and realizing their personal financial planning goals while working with them to help develop, implement and monitor strategies to help assure the long-term coordination of their overall financial, retirement, business planning.

Scott is also the host of STA's radio show, "Financial Planning Fridays" on The STA Money Hour, on 950AM KPRC Radio in Houston at 12pm Central where he frequently discusses tax and financial planning topics and hosts interviews of industry experts.

Scott graduated from the University of Texas at Austin with a Bachelor of Business Administration in Accounting and received his Master of Business Administration from the University of St. Thomas.

Currently, Scott is a CFP® and a CPA and also holds a PFS® designation. Scott has been active as a member of the American Institute of Certified Public Accountants (AICPA), the Texas Society of Certified Public Accountants (TSCPA) and its Houston CPA Society as a member of its Board of Directors. He has also been recognized for excellence by being named the Young CPA of the Year for 2002-2003 by the Houston CPA Society, one of the largest and most prominent CPA chapters in the United States.

In addition, Scott has both authored and has been interviewed for numerous articles in financial related publications and websites such as the Wall Street Journal, MarketWatch, CNBC, USA Today, Washington Post, The New York Times, Investopedia, Houston Chronicle, Investment News, Kiplinger, The AICPA Tax Section,, the Houston Business Journal and the CPA Forum. Scott is also a member of the Houston Business and Estate Planning Council.


BBA - Accounting, University of Texas at Austin
MBA - Finance, University of St. Thomas

Assets Under Management:

$760 million

CRD Number:



AUM information provide is for the firm STA Wealth Management, LLC of which Scott Bishop is a partner/shareholder. Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by STA Wealth Management, LLC (“STA”), or any non-investment related content, made reference to directly or indirectly in this newsletter will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful.  Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this newsletter serves as the receipt of, or as a substitute for, personalized investment advice from STA.  To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing.  STA is neither a law firm nor a certified public accounting firm and no portion of the newsletter content should be construed as legal or accounting advice.  A copy of the STA’s current written disclosure Brochure discussing our advisory services and fees is available upon request.

IRS CIRCULAR 230 NOTICE: To the extent that this message or any attachment concerns tax matters, it is not intended to be used and cannot be used by a taxpayer for the purpose of avoiding penalties that may be imposed by law.

  • STA Wealth Planning Process - Scott Bishop
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    Estate Planning, Social Security, Taxes
Do I have to pay taxes on a mortuary irrevocable trust if my only income is social security?
100% of people found this answer helpful

If this is for a funeral or "mortuary" pre-payment plan you purchased, the answer would be yes.  However, in my experience the income you receive should not be very material and would have a minimal effect on your taxes...especially if your only income is Social Security.  It should also NOT be enough to push your Adjusted Gross Income higher to the point where your Social Security would be Subject to Taxes.

For those not aware of what a "Mortuary Irrevocable Trust" is, they are funeral trusts that allow people to pay funeral expenses in advance, and that can spare your survivors a lot of difficult decisions while grieving. I have even seen some nursing homes even require a funeral trust as a condition of admission. But if the trustees aren’t reputable (beware high pressure salesmen) or the information isn’t current, these trusts can bring bereaved families more grief.

The Internal Revenue Service defines a funeral trust as “a ‘pooled income fund’ set up by a funeral home or cemetery to which a person transfers property to cover future funeral and burial costs.” They’re often referred to as “pre-need programs.”

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