Insights

You’re in a good position in your life. You’ve built up your wealth, perhaps from a successful business or working in corporate America. You might feel it’s time to start winding down and considering whether to transfer some of those assets to the next generation. The question then becomes  …

While it can be easy for people to back-burner estate planning due to busy schedules or thinking they have plenty of time to get around to it, doing so can result in property and financial assets passing to unintended heirs in unintentional ways. Without the proper planning, your heirs coul …

Let’s be honest: If you’re a high-income earner, you’ve likely mastered the art of building wealth, but the IRS seems to have mastered the art of taking its cut. Thus, you might look at your growing traditional IRA and 401(k) and see a future of unavoidable required minimu …

Although many people equate legacy planning with generational wealth transfer, a holistic approach to legacy planning can address financial, legal, and personal aspirations in a cohesive plan. It can take into account your unique relationships, values, philanthropic goals, and family govern …

If you’re looking for a way to structure your charitable giving to optimize the benefits for your family and your favorite causes, a private family foundation may be an option to consider. Although they can be complex to establish, they provide significant tax benefits, the ability to exerc …

If charitable giving is a significant part of your estate plan, it’s essential to choose a donation structure that fits your resources and goals. Trusts can be effective ways to provide for yourself or your family and help potentially reduce taxes while maximizing support for the causes you …

Planning for the future isn’t just about creating a will or setting up a trust (though that’s a good start). It can also be about helping to ensure a trusted individual carries out your wishes once you’re gone. This person, known as the executor of the estate, plays a critical role in manag …

A donor-advised fund (DAF) is a charitable giving account that can play a valuable role in a charitable giving strategy—popular for its tax efficiency, flexibility, and simplicity. This resource can help you determine if a DAF could be worth considering as a useful addition to your overall …

The end of the year offers an ideal opportunity to look both forward and backward—reflecting on recent achievements while setting goals for the upcoming months. For many people, it’s also a time to review their finances and identify charitable moves that can help lower their tax bill.  If y …

There are countless ways to give—from dropping off your old couch at local donation center to volunteering at the local soup kitchen. When it comes to monetary gifts, it’s worth thinking through how to give in a way that both supports your values and helps maximize tax savings.

If you’re looking for a way to give back long-term without hurting your current financial security, a charitable remainder trust (CRT) may provide a win-win opportunity. CRTs let you support your favorite cause while also creating a stream of income for yourself or your loved ones. When you …