Wealth Planning

Papers and podcasts concerning trust and estate, tax, and financial planning matters as they relate to personal goals and investment strategy.

Wealth Planning

Vital Planning Tips for When Children Reach the Milestone of Age 18 Turning 18 is a milestone that every young person looks forward to and a time when parents look back proudly at their child’s accomplishments. It is also that magical age when—in the eyes of the law in most states—the child becomes a legal adult. At this milestone, parents should engage in a review of their own financial and estate plans, as well as take the opportunity to educate their children.
The Benefits of Executive Compensation Executive Compensation certainly provides benefits. How much of those benefits executives retain will depend on effective and proactive investment and tax planning.
Private Placement Life Insurance: Strategies, Advantages and Considerations for High Net Worth Individuals The use of Private Placement Life Insurance (PPLI) can provide an option for high net worth individuals to invest in certain asset classes or provide a way to transfer assets to heirs more tax efficiently. Senior Wealth Strategist Terry LaBant explains the benefits and cautionary notes in using PPLI as part of a wealth management strategy.
Florida Residency Tax Savings
More Than Sunshine: Establishing Florida Residency for Tax Savings Florida has long been a haven for retirees and seasonal snowbirds seeking a more relaxed lifestyle. A paper by Richard Gotterer, Regional Director and Senior Wealth Advisor, explains why more families began exploring the possibility of relocating to Florida to take advantage of its favorable tax status, as well.
U.S. Corporate Tax Inversions Explained: Corporate Gain or Shareholder Detriment? VP and Senior Wealth Strategist Terry LaBant summarizes how U.S. corporate tax inversions have increased greatly over the past 10 years—to the point where the U.S. government recently announced new rules to stem the tide.
Florida Legislature: Financial “Age of Maturity” Now as High as 25 for Certain Transfers to Minors Last year, Florida joined a small group of states that have recently revised the age of maturity to 25 from 21 for Uniform Transfers to Minors Act (UTMA) accounts. Families may now be more inclined to incorporate UTMA accounts into their estate plans given the potential for funds to be held by a custodian until the child reaches age 25.
Professional Athletes: Wealth Advisor Q&A The painful reality is that for most players in professional sports, high salaries come to an end all too soon, often for reasons beyond players’ control. Following are some key questions and answers from VP and Senior Wealth Advisor Sterling Sullivan with the goal of zeroing in on what athletes can do during their career to ensure they are building wealth that will last beyond the unavoidable uncertainties of professional sports.
The Apples and Oranges of Charitable Giving Families can foster their charitable giving legacy in many ways, including the use of private foundations and donor advised funds. As the two differ greatly in terms of structure and operations, this paper highlights some points to consider when making your philanthropic decisions.
Foreshadowing Change Again? President Obama recently released his 2016 federal budget proposal which recommends substantial changes to wealth transfer tax laws. Senior Wealth Strategist Terry LaBant summarizes the President’s proposed changes.
Finally... Some "Permanent" Tax Extender Legislation Read about how the PATH Act may help avoid the ongoing confusion and waiting game on the extension of tax breaks available to taxpayers.
Social Security Puts an End to Some Claiming Strategies Sr. Wealth Strategist, Terry LaBant outlines recent changes to some Social Security benefits available to spouses, including married couples and certain dependent minor children.
2016 Federal Tax Reference Guide The 2016 Federal Tax Reference Guide lists tax facts for the 2016 tax year and includes tables divided into four categories that affect taxes paid by an individual: Investment Related, Income, Retirement Plan Contributions and Estate.
Wealth Planning Following Obergefell v. Hodges Senior Wealth Strategist, Terry LaBant provides an overview the tax implications and changes to benefits in light of recent court decisions defining marriage.
Protecting the Inherited IRA Until recently, parents had thought they could leave their remaining retirement accounts to each other or their children and have them remain protected from creditors. This past summer, we learned that inherited retirement accounts are not necessarily protected from creditors after all. Our Senior Wealth Strategist, Terry LaBant, provides us with some insight into a recent Supreme Court case that impacts inherited IRAs.
Stretching the Inherited IRA Many of us take advantage of saving through our retirement plans each year. Not only can retirement contributions provide current income tax deductions, but the assets themselves can grow tax free as well. This paper discusses the varying complexities associated with beneficiary designations, receiving distributions and account titling.
So, Where Do You Live? The new tax act passed by Congress earlier this year has brought more certainty to estate and income tax discussions for individuals. This paper is about the cost of state taxes and the potential impact on planning and wealth.
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