The Importance of Buy-Sell Agreements
According to the Exit Planning Institute, 83% of businesses have no written transition plan and 66% are owned by Baby Boomers who will transition out in the next ten years, one way or another. If you are considering a buy-sell agreement for your business, this article from Rimon, PC estate planning attorney Patricia Annino can help you understand the functions and benefits of this important business succession planning tool.
The basics of "tax-wise" estate planning for married couples
How can married, high net worth couples incorporate “tax-wise” strategies into their estate planning documents? Read this article from The Nautilus Group to learn about three basic strategies that can help to eliminate or minimize estate and transfer taxes and the key benefits and disadvantages of each. The Nautilus Group® is a service of New York Life Insurance Company.
How can tax loss harvesting reduce the pain of stock market losses?
While the stock market increased significantly in 2024, not every year will be so positive, and during the inevitable market down turns, investors can experience significant losses in their taxable brokerage accounts. This article explores one way investors may diminish their economic loss and potentially improve their overall return: tax-loss harvesting. This strategy involves selling investments at a loss in order to offset capital gains and reduce taxable income, but caution must be taken to avoid violating the wash-sale rule among other pitfalls. High net worth individuals with complex financial situations should always review any contemplated tax strategy with their trusted financial professionals.
Maximizing wealth transfer strategies for the 99%
For today’s families, the most important estate considerations are no longer about avoiding federal estate tax. With the vast majority of Americans falling outside the taxable range, planning is increasingly about smart income-tax management and building flexibility into lifetime gifting strategies. As outlined in this article from estate attorney Jeff Chadwick, effective planning starts with understanding the motivations behind lifetime gifts and the tools available to carry them out—whether supporting loved ones now, protecting assets from creditors, or simplifying future administration. He also underscores the tax impact of gifting, including the carryover basis rules, the step-up in basis at death, and how “downstream” or “upstream” planning may help preserve value across generations.
No single technique fits everyone. Working with a knowledgeable financial professional can help ensure your approach aligns with both your long-term goals and your family’s unique circumstances. If you have not reviewed your estate strategy recently, this may be an ideal time to do so.
How can IRA owners support their favorite charity and still receive lifetime income?
For many years, donors aged 70½ and above have been able to make tax-favored charitable gifts directly from their individual retirement accounts to private foundations or donor advised funds. Now a recent development offers a fresh avenue for IRA owners who want to magnify their giving potential but continue to retain a stream of income from the donated funds. Read how using tax-free transfers from IRAs to establish a charitable remainder trust or charitable gift annuity can provide additional advantages for experienced donors in this article from UMKC School of Law Professor Christopher Hoyt, JD, and then talk with your financial professionals to explore whether this fits into your retirement or charitable plans.
Basic estate planning considerations and documentation
A significant number of Americans have no estate plan in place, which could be due to several factors: not making time to address a seemingly far-off problem, avoiding potentially difficult conversations and decisions, not wanting to think of one’s mortality, or the perceived high cost of working with attorneys and other professionals. However, failing to plan can have consequences that could be very costly both financially and in terms of an undesirable outcome, delay, and family disharmony. This article describes general estate planning considerations involved in the process and the types of documents typically incorporated into an estate plan.
A Trust Could Be a Business Owner’s Most Valuable Tool
Trusts can serve as essential tools for business owners seeking clarity, protection, and structure in their estate and succession planning. As outlined in this article, choosing between a revocable or irrevocable trust begins with understanding what you aim to accomplish — from privacy and incapacity planning to enhanced asset protection, income-tax strategies, and long-term transition goals.
Revocable trusts often support core estate planning objectives, offering privacy, streamlined administration, and continuity should an owner become incapacitated. Irrevocable trusts, by contrast, may provide asset protection, tax efficiencies, and opportunities for transferring business interests in a more strategic and controlled manner. For owners facing complex liability or multigenerational planning, the structure of a trust can play a critical role in long-term outcomes.
Working with a qualified financial professional can help ensure these tools are aligned with your goals, your business, and your family’s future.
Why Employee Retention Plans Matter More Than Ever
In today’s tight labor market, keeping great employees is just as important as finding them. Robert Keebler’s article, “The Importance of Employee Retention Plans,” breaks down how strategic incentives — from flexible work culture to deferred compensation and stock options — can protect a business’s most valuable asset: its people. Retention is more than a policy; it’s an investment in long-term stability and growth. Read the full article to explore how financial advisors can guide business owners in creating meaningful retention strategies.
Employees are appreciating assets: Here’s how to help them stay and thrive
In today’s job market, finding great people is hard—but keeping them can be even harder. Robert Keebler’s guide for business owners explores how thoughtful retention strategies—from flexible work options and recognition programs to long-term incentives like profit-sharing and deferred compensation—can help teams feel valued and stay engaged. The takeaway? Employees are appreciating assets—the longer they stay, the more valuable they become. Read more to learn why strategic retention planning isn’t just good HR; it’s sound business.
Benefits and pitfalls of buy-sell agreements every advisor should know
Business entities come in all shapes and sizes, but no matter the type, each one should have a buy-sell agreement in place. This important tool helps business owners effect a smooth transition in the event of death, disability, retirement, or other circumstance that triggers a change in ownership. In this article by Rimon, PC estate planning attorney Patricia Annino, you’ll learn about the benefits and pitfalls of buy-sell agreements and how you can help your clients better protect their businesses.
IRA distributions to a CRT can provide asset protection and retirement income.
Although the SECURE Act eliminated the stretch IRA strategy for most designated beneficiaries, there is a strategy where IRA distributions may be coupled with a charitable remainder trust to duplicate the stretch IRA strategy. Read this article to learn how IRA distributions to a CRTs can effectively alter the SECURE Act’s 10-year payout for asset protection, estate planning, retirement income, and charitable planning purposes.
Life insurance 101: An overview of term life policies versus whole life policies.
Most people think of insurance as a basic protection tool – pay a premium, and if the worst happens, the carrier pays out a benefit. This article from The Nautilus Group® looks at how life insurance can provide more benefits than just a one-time payout and explains the difference in term and whole life policies to help consumers understand that while term coverage offers peace of mind for a while, whole life insurance can provide peace of mind for a lifetime. The Nautilus Group is a service of New York Life Insurance Company.
NQDC plans can help employers attract and retain top talent
In today’s job market, the risk of losing top performers is very real for employers. Finding suitable replacements can cause financial stress and disruption of business which may result in lost profits. An employer can gain a distinct advantage over companies competing for top talent by offering a non-qualified deferred compensation plan designed to motivate and retain the employees who are key to the company’s success. Read this article from The Nautilus Group® to learn how this valuable tool provides benefits for both employers and their key employees. The Nautilus Group is a service of New York Life Insurance Company.
History of the US estate tax
The Tax Cuts and Jobs Act was one of the most significant tax legislation acts signed into law since the Tax Reform Act of 1986. This historic timeline illustrates the fluctuations in US estate tax laws and provides an understanding of the different reasons the law has changed over the past 220+ years. Check out the full timeline for more information and important disclosures, and work with your financial professionals to keep your estate plan updated.
Potential tax reduction for married couples through Community property trust
Tax planning strategies can feel overwhelming for high-net-worth individuals, especially when it comes to managing wealth transfer and minimizing capital gains taxes. For example, did you know that a community property trust could help married couples living in common-law states access the same tax advantages offered in community property states? A CPT may allow for a "double step-up" in basis, reducing potential capital gains taxes and preserving more family wealth. Read the attached article to learn how CPTs can play a significant role in a broader estate plan and for important disclosures.
Trusts can be a game-changer in estate planning
Did you know that passing assets through trusts can provide unparalleled benefits in estate planning? Trusts offer a level of control and security that helps protect assets from creditors and legal judgments; provides specialized benefits for beneficiaries where applicable; dictates how and when assets are distributed; and minimizes estate taxes for beneficiaries, ensuring your family legacy will be better preserved. Whether you're concerned about generational wealth, business succession, or minimizing future tax burdens, trusts are a tool worth exploring. To discover how you can integrate trusts into your estate planning strategy, read the full article which includes important disclosures.
Gifts to charitable remainder trusts can provide tax benefits for donors
Wondering how to maximize your charitable giving while securing an income stream? A charitable remainder trust (CRT) could be the solution. CRTs allow you to convert highly appreciated assets—like securities or real estate—into a steady income while avoiding immediate capital gains taxes. You’ll also receive a current income tax deduction based on the future gift to your favorite charity. Here’s how it works: assets contributed to a CRT are sold free of income taxes, letting the full proceeds be reinvested to generate even more value. Whether you’re planning for your own financial future or leaving a legacy for your heirs and chosen charities, read this article to learn how CRTs offer flexibility and significant tax advantages, and for other important disclosures.
Revocable Living Trusts: A key estate planning tool for complex wealth
For affluent families and closely held business owners, control and continuity are everything. A revocable living trust can help deliver both, allowing assets to transfer efficiently, privately, and without probate delays. The article linked below breaks down what these trusts can (and can’t) do, including common misunderstandings around creditor protection and estate taxes. Review the full article to learn how this strategy might fit into a broader, coordinated estate plan and see other important disclosures. Used thoughtfully, an RLT can provide structure for multigenerational wealth, smooth leadership transitions in family businesses, and preserve privacy for sensitive estates.
Rethinking Employee Benefits: How Split-Dollar Life Insurance Can Strengthen Retention and Protection
In today’s competitive market, keeping key employees means offering more than a paycheck. A split-dollar life insurance arrangement blends life insurance protection with long-term financial flexibility. Through this approach, an employer and employee share the costs and benefits of a permanent life insurance policy. It can serve as a powerful retention tool, a creative retirement benefit, or a way to provide coverage even when health changes down the road. Of course, it’s not without complexity. The structure, tax treatment, and administration require careful planning and expert guidance — but the potential benefits can be well worth it. Read this article for a full disclosure on how split-dollar arrangements work and when they may make sense for your business or clients.