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Guides & Whitepapers

Meeting with a financial advisor

Selecting a Financial Advisor

By and Guides & Whitepapers
Do you know what to consider when selecting a financial advisor? It’s never too early to secure your financial future. Managing your finances can be time-consuming and complicated, especially if you experience a sudden change in cash flow, run into unforeseen tax or legal ramifications, and more. Financial planners provide many benefits, helping you: Get your finances in order and establish long-term goals. Understand your risk tolerance. Save time while planning for the future. Navigate financial rules and regulations. However, not all financial advisors are the same. Our guide, “How to Select a Financial Advisor,” will guide you through the…
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2022 Federal & State Estate and Gift Tax Cheat Sheet

By and Guides & Whitepapers
Here we have provided a “cheat sheet” to keep in mind for 2022 federal estate, gift and GST exemptions, as well as exemptions and inheritance tax consequences in specific states where a number of our clients reside. Federal Estate, Gift, and GST Tax Below is a summary of the current federal estate, gift, and generation-skipping transfer tax provisions for 2022. Note that, under current law, the increases in exemption amounts that began in 2018 are set to expire in 2026, at which point they will revert back to the pre-2018 numbers (i.e., $5,490,000 per person, indexed for inflation). Gift and…
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Navigating Mental Health Issues When Serving as Trustee

By , and Guides & Whitepapers
A Conversation with an Experienced Estate Attorney and Trustee At Wealthspire Advisors, there are several senior advisors who also serve as trustee for their clients. Mike Delgass is one such advisor. Mike is a Managing Director and has been with the firm since 2005. Before Wealthspire, Mike practiced as a trusts and estates attorney and was a partner at two nationally recognized law firms. Mike draws from his extensive legal experience not only to help his clients navigate complex tax planning, but also in his role as personal trustee for some of the families with whom he works. Though there…
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How Savvy Investors Plan for Education Expenses

By Guides & Whitepapers
There is a changing reality for many parents: that 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, far outpacing inflation. Today, average costs for just tuition and fees, not including room and board, exceed $36,880 per year for private schools, and $10,440 for in-state residents (or $26,820 for out-of-state residents) attending public schools. Funding four years of college, or potentially more, requires forethought, and…
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Preparing to Sell Your Business: How to Optimize the Sale and Transition

By Guides & Whitepapers
We’ve worked with entrepreneurs over the years who have poured their hearts and souls into their businesses. And when the time is right, many consider selling their company. Planning ahead can allow an entrepreneur to take steps to increase the value of their business. It can also help them to sell at the right time – when the price they can get for their business is optimal or before health issues or other problems might force them to sell. While many business owners understand that a transition plan is important, 43% have no plan in place and 80% do not…
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long term care

Planning for Long-Term Care: Exploring Your Options and Creating a Plan

By Guides & Whitepapers
Americans are living longer and healthier lives than at any other time in history. Average life expectancy in the US is 78.7 years and continues to rise. For those without chronic illness, it is realistic to plan to live well into the 90’s. Longer lifespans come with a higher likelihood that aging adults will eventually need some sort of help with the daily functions of living. In fact, 7 out of 10 will need help in some form – either from a family member or a paid caregiver – and 9 out of 10 who receive that care will not fully recover their…
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Choosing Executors, Trustees, and Guardians for Your Estate Plan

By Guides & Whitepapers
Who would you trust to take care of your children if something happened to you? Who would you trust to manage their finances? Who in your life would be capable of administering your estate if you pass away? For some fortunate people, the answers to these questions are clear. For many others, however, answering these questions is far from easy. When clients are crafting or revising their estate plans, there are a lot of questions to answer and a lot of decisions to make. As a starting point, we suggest that clients start the planning process by considering the people…
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Estate Planning 101

By Guides & Whitepapers
The purpose of this white paper is to provide you with an overview of estate planning basics. Establishing or revising an estate plan first and foremost involves making a series of decisions, some of which can be daunting. We hope the information below serves as a useful guide during this process. What is an estate plan and why do I need one? Contrary to popular belief, estate planning typically involves more than just signing a Will. It generally involves two sets of considerations: lifetime planning and testamentary planning. Lifetime planning may involve choosing decision-makers to make health or financial decisions…
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