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CLAT

Charitable Lead Annuity Trusts (CLATs)

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What is a Charitable Lead Annuity Trust (CLAT)? A charitable lead annuity trust (“CLAT”) is a type of charitable trust where a charity, donor advised fund, or foundation of the grantor’s choosing (the “Lead Beneficiary”) receives annual payments, either for a term of years or the grantor’s lifetime. At the end of this defined period, the remaining CLAT assets are distributed to the CLAT’s non-charitable beneficiaries, who are usually the grantor’s descendants, or trusts for the descendants’ benefit. How do CLATs work? For CLATs, the Lead Beneficiary receives fixed payments each year. The term of the CLAT may be for…
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rebalancing

An Introduction to Rebalancing

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In the world of investing, rebalancing refers to the process of adjusting assets in one’s portfolio in order to maintain a certain level of risk and the desired asset allocation. Rebalancing seeks to keep investors on track to reach their overall investment goals. Portfolio rebalancing has endured the test of time as a key component of any investor’s long-term investment plan. However, it is generally accepted at face-value and many investors are unsure of the underlying logic behind rebalancing. Is the goal to increase returns, reduce risk, or perhaps some combination of the two? When is it appropriate to rebalance?…
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bitcoin

Bitcoin: A Brief Update for U.S.-Based Individual Investors

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The following post will attempt to provide an overview of bitcoin's current status. Please note that although we have made an effort to include relevant and up-to-date information, this is a rapidly evolving space and we don't purport that this summary is conclusive or all-encompassing, nor does it constitute financial advice. In it, we will seek to address the following questions at a high level (click to jump to that section): What is bitcoin, and how does blockchain technology work? What are the primary use cases for bitcoin? Why has there been so much recent media buzz around bitcoin? How…
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SLATs

Spousal Lifetime Access Trusts (SLATs): FAQs

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What is a Spousal Lifetime Access Trust (SLAT)? It is a trust that you (the grantor) set up for the benefit of your spouse and your descendants. You would make a gift to the SLAT, using some of your federal lifetime gift exemption (currently $11.58M in 2020) to shield that gift from gift tax. While you give up all your rights and control over the gifted assets, your spouse will have access to the gifted assets as beneficiary of the SLAT. When does it make sense to have a SLAT? You should consider creating a SLAT if you have a…
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data-dashboards

Data Dashboards: Use Business Intelligence to Improve

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My job, as well as the business intelligence I use every day, are about collecting and sharing meaningful information with the leaders managing Wealthspire Advisors and the advisors who serve our clients. With the advent of big data, more meaningful information is available than ever before. In the past, we maintained massive spreadsheets to track multiple datapoints, manually updating row after row of numbers. We were lucky if we were able to share that data monthly, let alone weekly. Today the data we track is automated with crawlers pulling information from multiple sources to update dashboard reports we look at…
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2020 internship program

Our 2020 Internship Program

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Like many others, we are now almost five months into a remote work environment, a shift that continues to require flexibility, creativity, and commitment from our team. We have all had to adjust and adapt to working differently in a COVID-19 world. Beyond the daily impact on our normal work routines, the current extended period of telework also called into question the viability of some of our traditional talent management programs, like our summer internship program. Going into this summer, the simplest path would have been to cancel our intern program, given our inability to conduct it in person. The…
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biden tax proposal

Back to the Future? A Look at Biden’s Tax Proposals

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Somehow lost in all of the news coverage of the COVID-19 pandemic and social unrest, Joe Biden, the former Vice President and current Democratic nominee for President, has proposed a number of individual, payroll, and corporate tax increases to fund new or expanded government programs. The proposal comes as Biden has partnered with Vermont senator Bernie Sanders to further attract progressives to his campaign and allure voters in November. These proposals will have a material impact on higher-income taxpayers. Individual Taxes Summary In general, higher-income taxpayers would face significantly increased income and payroll taxes. The changes would repeal the income…
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fiduciary advisor

The Importance of Working With a Fiduciary Advisor

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Deciding to work with a financial advisor can be a stressful decision. It requires sharing intimate financial details with a stranger and implies a deep level of trust that takes time to build. A reasonable assumption would be that the advisor on the other side of the table is required to act in your best interest over their own. In today’s fractured advisor marketplace, however, the simple truth is it is not always so. Here's why you should work with a fiduciary advisor. What is a Fiduciary? A fiduciary is a person (or entity) acting on behalf of another party…
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inherited IRA

What To Do With an Inherited IRA

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Losing a loved one can bring not only an emotional burden, but also significant financial responsibilities related to settling the estate. If you are a beneficiary to retirement plan assets, you may inherit control of all or part of a retirement plan account. So, what exactly can one do with an inherited Individual Retirement Account (IRA) or a Roth IRA? What responsibilities do you have to the newly inherited account? The answers to these questions may depend on your relationship to the deceased. Here I will discuss several factors that will determine what you can do with inherited retirement assets.…
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military benefits

Integrating Military Benefits into Your Financial Planning

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As a financial advisor for over three decades and a former U.S. Navy officer with a daughter on active duty and several veterans in the family, a recent conversation I had with a client brought my two worlds together. The client’s son was beginning their military service and had several financial questions about military benefits. This reminded me of the importance of working with an advisor who understands these benefits and can help weave them into a greater financial plan. Whether you are retired military, established in your career as an active duty or reserve member of the military, or…
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