Firm News & Articles

As we transitioned from in-person and telephone meetings in the post-pandemic world to Zoom and other forms of virtual meetings, there was a significant degree of concern in whether, as financial advisors, we would be able to continue to effectively communicate with our clients. What we learned was that not only would we be able to continue to provide effective guidance, but that we would be taught several valuable lessons in how to be better communicators going forward.

One of the cornerstone goals of most financial plans for the successful entrepreneur is to eventually transfer some of the value of their life’s work and identity to the next generation without their wealth being unnecessarily eroded by the federal and/or state estate tax. Currently, this exemption sits at $11.58 million per individual or a combined $22m+ per couple, leaving only a small percentage of successful estates potential subject to this tax.

Combined with the ability to gift $30,000 annually (for married couples splitting gifts) to any number of defined beneficiaries without applying against the lifetime exemption, clients often forget the changing tides of the estate tax exemption may force them into a vastly differently situation down the line during times of legislative change….

The myriad of planning opportunities in this environment of low interest and asset valuation levels, combined with the unique benefits related to the design of a Shark-fin CLAT make this an excellent time to address estate planning. ​

Due to the current economic environment, CLATs are a solid planning technique to consider for helping clients reach their advanced estate planning goals. ​

The combination of higher transfer tax exemptions, low interest rates and a reduction of asset values has created a unique opportunity for creative and effective estate and financial planning strategies.  Clients should consider exploring these advanced strategies to help reach their goals and financial objectives. 

One area many clients are focusing on is the current doubling of federal gift, estate and generation-skipping transfer tax exemptions, which are set to sunset to $5 million (adjusted for annual inflation) after December 31, 2025. …

How Volatile Markets, Fears of COVID-19 Contagion, and Global Uncertainty Have Conspired to Present an Incredible Planning Opportunity

At the risk of sounding
tone-deaf, 2020 is turning into one of the most historic “perfect storms”
in the realm of income and estate tax planning – specifically for
business owners and owners of illiquid assets.Surely, what
is unfolding around COVID-19 is both troubling and fear-inducing,
specifically for those most vulnerable to the illness. No planner would ever
wish for these circumstances – and our team continues to implement
proactive protocols to do our part in both hedging against unnecessary
risks of spreading the virus –…