3 Nontraditional Ways to Give That Still Qualify for a Tax Deduction
Kevin Oleszewski, Senior Wealth Planner ‘Tis the season to give. In fact, 37% of charitable giving occurs during the last quarter of the year — 20% of it in December alone, according to a survey conducted by the Blackbaud Institute. And while the holidays are traditionally a time to reflect …
Beneficiaries
Trillions of dollars will soon transfer from the Silent Generation and baby boomers to their adult children in what financial experts are calling “The Great Wealth Transfer.” Are you one of the people expecting an inheritance in this historic transfer of wealth? Have you thought about the i …
RMDs on Inherited Retirement Accounts in the Age of the SECURE Act
Tom Fridrich, Senior Wealth Planner Once upon a time, people would put money in their 401(k) or IRA accounts and know that – should their retirement savings outlive them – their loved ones would inherit the rest and all would essentially be well.
How to Talk to Your Family About Your Estate Plan and Avoid Complicating Their Grief
Sarah Duey I once had clients with only one daughter. They created a living trust for only their grandchild without ever telling their daughter why. As the trustees, we worked with this daughter, because her child was still a minor. There were hard feelings — a lot of wondering why her …
A Guide to Gifting to Your Heirs
Gifting to your loved ones now or posthumously each carries their own positives and negatives as they relate to your estate plan, taxes, your goals and your legacy. As you explore your options, refer to this guide. It offers a checklist, questions to ask your advisor and a conversation outl …
To Give Now or Give Later?
Tom Fridrich, JD, CLU, ChFC®, Senior Wealth Planner 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 that you’re in a place where you’re figurin …
Expand Your Charitable Reach
As a kid, Zachary Conway’s financial advisor father tried to instill good savings and charitable habits. Conway, founder and CEO of Seeds Investor, recently told the Framework podcast team about how that worked. When he got his monthly allowance, he divided it up among several containers: o …
When to Use a Donor-Advised Fund for Charitable Giving
Philanthropist and oil tycoon John D. Rockefeller famously said: “Think of giving not only as a duty, but a privilege.” If you are of the same charitable mindset as John Rockefeller, you might consider a donor-advised fund (DAF). A donor-advised fund (DAF) is a tool to which you make an irr …
Proposed Bill Includes Tax Increases for High Earners, Retirement Account Changes
Last week, Democrats on the House Ways and Means Committee released a draft of their proposed tax plan, which includes changes to corporate, personal and other taxes, as well as retirement plans – though Social Security would be untouched.
Knowing When to Update Your Estate Plan
From the family tea set to the most complex estate, transferring wealth – of whatever size and definition – couldn’t be more common. What’s less common, but just as important, is outlining a specific plan and updating it as circumstances change.
How to Make Sense of Retirement and Estate Finance
Retirement is far off until it isn’t. This chapter of life can sneak up on just about anyone, and we do ourselves a favor to be as prepared as we can. Like anything involving the government, finances can be confusing, with different tax treatments, contribution limits, beneficiary rules and more.
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A Guide to Gifting to Your Heirs
Gifting to your loved ones now or posthumously each carries their own positives and negatives as they relate to your estate plan, taxes, your goals and your legacy.
