Category: 39 Wealth Management Issues

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39 Wealth Management Issues Business Succession Planning Insurance and Risk Management

Business Succession Planning Checklist

Introduction Business succession planning employs various estate planning strategies to improve the chances of success for a family business when the original owners retire, pass away, or are entirely ready to transfer the family to the next generation. This business succession planning checklist can help you make sure you have prepared yourself, your family, and […]

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Disability Protection Financial Planning

Is Disability Insurance Important for You?

Generally, there are two types of disability insurance: Short-term disability insurance replaces a portion of your paycheck for a short period, such as three to six months. Most people get STDI through their employer. You can get an individual policy through some private insurers.Long-term disability insurance (LTD) provides coverage if you’re out of work for […]

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39 Wealth Management Issues Financial Planning Retirement Planning Titling of Assets

Net Unrealized Appreciate for Employee Stock Ownership

Net Unrealized Appreciation An employee who owns company stock in their employer’s retirement plan will eventually have to decide how to distribute those assets—typically when you retire or change employers. Taking a distribution could leave the plan participant facing hefty taxes.  However, a tax break—taking advantage of  “net unrealized appreciation” (NUA)—can reduce ordinary income taxes. […]

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Durable Power of Attorney Issues Estate Planning Checklist

What is a Power of Attorney?

Power of Attorney An important aspect of detailed estate planning is appointing a trusted individual to act as a financial power of attorney to work on an individual’s behalf should they become temporarily incapacitated. A financial power of attorney can be set up to spring into effect only if the individual is deemed medically unable […]

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39 Wealth Management Issues Estate Planning Checklist Titling of Assets Trust & Estate Planning Trusts

“Funding” a Trust: The Crucial Part of Estate Plan Implementation

Creating your Trust is just the first part of the Estate Planning process. After you sign your Trust document, the next step is to fund the trust. The method of funding a trust involves transferring assets to it.  Tips for  Funding a Trust  This guide is meant to serve as a helpful starting point for […]

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39 Wealth Management Issues Aging Issues Asset Allocation Issues Asset Protection Business Continuation Planning Business Succession Planning Charitable Giving During Lifetime Charitable Giving Through Estate College Expense Planning Debt Financing Debt Management Defined Benefit Plan Strategy Disability Protection Durable Power of Attorney Issues Executor/Trustee Issues Family Financial Values Financial Continuity with the Loss of Family Member Future Taxable Event Triggers High Correlation of Asset Allocation Household Budgeting Illiquid Investments Impending Major Purchase Income Tax Planning Investment Over-concentration Investment Risk Management Life Insurance Planning Lifetime Gifting to Children/Descendants Medical Coverage/LT Care Planning Non-U.S. Citizen planning Nonqualified Employee Benefits Pre and Post-Marital Agreements Real Estate Retirement Income Self-Actualization Social Security Decisions Special Needs Planning for Loved Ones Titling of Assets Wealth Transfer Through Estate

2021 Federal Tax Guidelines

Every year, the IRS adjusts more than 40 tax provisions for inflation. This is done to prevent “bracket creep,” when people are pushed into higher income tax brackets or have reduced value from credits and deductions due to inflation, instead of any real income increase. The IRS used the Consumer Price Index (CPI) to measure inflation before […]

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39 Wealth Management Issues Family Financial Values Trust & Estate Planning Trusts Wealth Transfer Through Estate

What You Need To Know about Dynasty Trusts

High net worth individuals and families who protect their wealth provide a lasting legacy for loved ones.  This planning entails many strategic estates and tax planning decisions to make. Gift taxes, estate taxes, and generation-skipping transfer taxes can dramatically decrease the inheritance left to your children, grandchildren, and great-grandchildren. When there is a lack of planning, the […]

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39 Wealth Management Issues Financial Planning Income Tax Planning Titling of Assets Trust & Estate Planning Trusts

What is the Difference Between Grantor vs. Non-Grantor Trusts?

Grantor and non-grantor trusts are taxed m much differently. Non-grantor trusts are treated as separate entities (e.g., C-Corporation). However, the grantors of grantor trusts retain significant rights to the trust’s assets and income. Because of that retention of power, they’re treated as if they are direct owners of the trust assets. Grantor Trust A grantor trust is […]

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39 Wealth Management Issues Estate Planning Checklist Trust & Estate Planning

Estate Planning for Your “Digital Life”

Your estate plan needs to cover any digital assets you might own. Just as your will's executor needs to know where to find your financial account information and the title to your car after your passing, they also need to access information on your computer and online accounts. If you have a durable power of attorney to […]

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Trust & Estate Planning

What is a “Lady Bird” or “TOD” Deed Transfer for Real Estate?

The "enhanced life estate deed," often referred to as a Lady Bird deed, and is permitted only in several states. The unique qualities of a Lady Bird deed can be better understood following a traditional life estate. When using a traditional life estate deed, the owner of the property (the grantor) reserves the right to […]

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