Wealth Management, Finance & Investing Blog

Content adapted from an article originally published by, and used with permission from, Fiducient Advisors LLC. A robust governance framework may be one of the biggest drivers of long-term outcomes for a nonprofit organization. A defined governance process is a simple yet effective approach to ensure that Committees remain actively involved in fulfilling their fiduciary duties. While Committee members can sometimes fixate solely on investment performance, they need to be aware that analyzing sp

In many ways, the dental profession is thriving and provides a rewarding career for entrepreneurs. Consider that the median pay for dentists in 2022 was $159,530, and that the profession ranks in the top ten jobs list according to the American Dental Association. And the profession is only expected to grow over the next ten years. Beyond seeking to improve the health of their communities, many dentists embark on the journey of owning their own practice. While this path can offer significant fin

This is a question that is coming up more frequently, especially from those who wish to defer taking money from IRA accounts and want to potentially pass retirement funds along to their heirs. So, what should you consider before deciding whether this strategy is right for you? Read on for more. The Basics The difference between an IRA and a Roth IRA essentially comes down to when you pay the taxes. Generally, with a traditional IRA, you pay taxes on the withdrawals from the account, while with

Financial planning can already be a daunting task, but for those with disabilities, there are added complexities that need to be taken into consideration. In fact, one in four adults in the United States has some sort of disability, many of which must be extensively planned around. For example, did you know that there are tax breaks for people living with certain disabilities, or that the government may be able to help someone obtain medical equipment that they otherwise can’t afford? Here are

After spending a few days recently in the warmth of Miami, I always wonder why I do not live in (or retire to) a part of the country where this weather is common all year long. And since I am a fan of the beach, having a coastline would be nice, too. At first I thought about California, but it’s far away from friends and family, has earthquakes, that three-hour time zone issue, and it’s one of just a handful of states that’s actually more expensive to live in from a tax perspective (sorry, I am

The recent passing of Charlie Munger, Vice Chairman of Berkshire Hathaway, made us reflect on his and Warren Buffet’s successful investing over the years. And although this missive will not be a tribute to “The Abominable No-Man” or the “Oracle of Omaha,” and regardless of your affinity for Charlie and Warren in general, their common-sense approach to investing provides learning opportunities for us all. If you have read enough investor letters from Berkshire Hathaway’s annual report (which we

As the compensation landscape for Big Law associates continues to evolve, new financial implications also arise, making it more important than ever to focus on practical planning strategies for associates at different career stages. With salaries and bonuses soaring to new heights, it’s crucial for young lawyers to make wise financial decisions. The Current Compensation Landscape Recently, Big Law firms have significantly increased compensation for associates. This trend began with Milbank and

There is a changing reality for many parents – advanced planning and a long-term strategy for financing a child’s education are becoming more of a necessity than a luxury, even for families of significant means. Education funding is one of the largest expenditures most American families will undertake, and costs continue to grow. Funding four years of college, or potentially more, requires forethought, and savvy families need to consider how they will pay for post-secondary education, potentia

As financial advisors, our purpose is to increase the financial well-being of our clients. And, although I believe we add a great deal of value for our clients in helping set and implement long-term financial goals, reviewing insurances and risk management strategies, being tax-efficient in all aspects of investing and estate/gift transfer issues, helping with education funding strategies, attempting to constantly reduce portfolio expenses, helping to prepare for market volatility etc., I think

This post will help you consider estate planning strategies in light of the current federal estate, gift and generation skipping transfer tax exemption, which in 2018 increased to $11.18M and has been indexed for inflation each year since then. However, the exemption amounts are scheduled to revert back to the pre-2018 exemptions (indexed for inflation) when the clock strikes midnight on January 1, 2026. Remind me what the numbers are. Below is a basic chart outlining the numbers (per person) i

Intentionally Defective Grantor Trusts (“IDGTs”) are a commonly used estate planning vehicle to transfer wealth to family members during the life of the grantor. In this whitepaper we will explore the four tax types relevant to IDGTs, and the mechanics of how IDGTs work. The use of the phrase “intentionally defective” is confusing, but it simply refers to an irrevocable trust where the grantor pays the trust’s income tax bill during his or her life. What taxes relate to an IDGT? There are four

The bad news is that there is a federal transfer tax on assets that you give away during life, at death, and to individuals two or more generations below you. The good news is that this transfer tax will only apply to the wealthiest Americans and, even so, there are strategies you can use to minimize or avoid its application. The federal estate, gift and GST tax only kicks in above a certain dollar threshold. Furthermore, there are additional wealth transfer strategies that do not trigger any t