Should You Consider a Spousal Lifetime Access Trust (SLAT)?

13 July 2021

Should You Consider a Spousal Lifetime Access Trust (SLAT)?

With anticipating changes in tax laws happening next year, it's time to review your estate plan to ensure it will continue to achieve your goals by minimizing estate taxes. 

The federal government currently imposes a gift tax on lifetime gifts and an estate tax on transfers on death.  A properly structured estate plan can reduce taxes by taking full advantage of the available tax exemptions, specifically the gift and estate tax "unified credit".  The unified credit permits every individual to transfer a specific amount of assets (an "exemption") tax-free either during their lifetime or at death. 

What Should Your Savings Goals Be?

Financial Planning for Every Decade of Your Life

07 July 2021

What Should Your Savings Goals Be?

When you’re young and just starting out, retirement seems so far away. There are more pressing things to spend your money on rather than focusing on your savings goals. Then you find the love of your life, maybe buy a house and start a family. Before you know it, your kids are looking at colleges, and, “suddenly,” retirement seems to have snuck up on you. Hopefully, you have not encountered too many of life’s obstacles and unforeseen expenses that can often derail a good savings plan. Life happens, though.

Perhaps you feel like your nest egg is growing too slowly. That’s okay; time and perseverance will get you where you want to be. Or perhaps you’re on the opposite end, and you’re not sure if you’ve saved enough.

Regardless of where you are in saving for retirement, one of the best ways to save is to set up small savings goals to help you feel that you are making progress along the way. Hitting the small goals can keep you going, especially when finances are tough or when something comes along to derail your plans.

What Will it Take to Own Your Financial Future?

These steps can help you gain control of your financial reality

09 June 2021

What Will it Take to Own Your Financial Future?

Do you ever feel like your finances just aren’t running on all cylinders? Setting definitive financial goals will help you stay on track, weather unexpected expenses, and gain peace of mind for your later years.

Today, I’d like to offer six goals that can help you get on track – and stay there – so you can own your financial future.

Important Tax Savings Strategies for the Affluent – And Those Who Want to Be

Tips to Help You Build and Protect Your Wealth

19 May 2021

Important Tax Savings Strategies for the Affluent – And Those Who Want to Be

When I worked as a tax CPA for KPMG in the late 90s, I served many corporate executives and wealthy families as their senior tax specialist and prepared many individual income tax returns, trust returns, and gift tax returns. Now, I use that knowledge and expertise to help my affluent and high-income clients plan ahead to keep more money in their pockets by using smart tax savings strategies. 

Looking at this Historical Tax Rate Chart 1913-2021, you can see that the current top income rate is relatively low. Like the importance of diversification in investing, I believe that tax diversification is just as relevant as you plan for your financial future.

I have five tax savings strategies I’d like to share with you today to help you keep more of your money.

Why Wealth Transfer Plans are Critical to Estate Planning

Don’t Neglect this Essential Aspect of Leaving Assets to Your Heirs

05 May 2021

Why Wealth Transfer Plans are Critical to Estate Planning

When it comes to estate planning, there can be many moving parts that are difficult to keep track of. Often, even having all of the proper documentation in place can still lead to confusion and errors. This is why you should make certain that you incorporate a wealth transfer plan into your estate planning.

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