Articles

In Episode 3 of Navigating Estate Administration, host Eric Dostal provides a countdown of the first 30 days and shares essential steps to help viewers avoid any unnecessary delays in their projects.

Your choice of business structure will have far-reaching effects on your tax planning and your ability to engage in certain wealth transfer techniques. This high-level overview of two common types of corporate entities, C corporations and S corporations, may be helpful as you evaluate how best to structure your next venture or as a quick refresher on the “rules of the road” for an existing corporation. As always, it is critical to consult with your legal and tax advisors before implementing or

Having a comprehensive estate plan in place is important for everyone, regardless of your personal family life, and can cover a wide array of situations, including circumstances like who will make your medical or financial decisions if you are not able to, what will happen to your home or bank accounts, or who will care for your young children upon your death. For some families with children who have special needs, establishing a strong estate plan is crucial and often necessary to ensure prope

The One Big Beautiful Bill Act (OBBBA) will have a significant impact on certain provisions of the Internal Revenue Code. Four major areas of change include the increase of the estate/gift/GST tax exemption, the state and local tax (SALT) deductions, and the qualified small business stock and qualified opportunity zone regimes. Federal Estate/Gift/GST Tax Exemption Under the 2017 Tax Cuts and Jobs Act (TCJA), the current estate/gift/GST tax exemption of $13.99 million per U.S. person was schedu

In episode 2, Eric Dostal breaks down the role and responsibilities of an executor, covering the emotional, legal, and financial aspects of managing an estate after someone's passing.

Are you concerned about your wealth spoiling your heirs? Do you want to ensure your accumulated wealth and legacy promotes positive behavior and achievement? If you are fortunate enough to have accumulated wealth that can benefit your heirs, these are often questions that we encounter as wealth advisors. Understanding Incentive Trusts To address some of these concerns, incentive trusts have evolved as a powerful tool in modern estate planning. An incentive trust is a trust that controls distrib

For high-net-worth families with significantly appreciated art collections, estate planning can fall short of optimizing both legacy and tax efficiency. Enter upstream planning, a lesser known but highly effective strategy that leverages a senior family member’s unused estate tax exemption to minimize capital gains tax on appreciated artwork (or other low basis assets). When executed properly, this approach can result in a full basis step-up, effectively eliminating capital gains tax exposure o

In Episode 1 of Navigating Estate Administration, start your journey with host Eric Dostal, financial advisor at Wealthspire Advisors, as he introduces the emotional and practical challenges of being an Executor.

For many collectors, assembling an art collection is a journey fueled by passion, intellect, and a deep appreciation for beauty and history. It reflects your unique taste and often becomes intertwined with your personal story and legacy. But as with other significant assets, the question eventually arises: how do you thoughtfully pass this collection – and the legacy it represents – to the next generation without inadvertently creating friction among your loved ones? As advisors deeply involved