Financial Planning Archives | Page 2 of 12 | Wealthspire Advisors


What is an Intentionally Defective Grantor Trust (IDGT)?

By Guides & Whitepapers
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 White Paper 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 pay the trust’s income tax bill during his or her life. What taxes relate to an IDGT? There are four types of taxes to consider: estate, gift, generation-skipping transfer (GST) and income. An IDGT allows…
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tax cheat sheet

2020 Federal & State Estate and Gift Tax Cheat Sheet

By and Guides & Whitepapers
Here we have provided a “cheat sheet” to keep in mind for 2020 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 2020. 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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Executive Risk

Executive Risk Management: Tips for Playing Defense

By Blog
Most executives rightly focus on their offensive strategy—saving and investing—but a defensive strategy is essential, too. As high earners, executives are often in a position to self-insure for some potential needs, but in almost all situations there remain gaps to fill with wisely chosen insurance strategies. Essentially “delegating” your defensive strategy to your HR department—in the form of workplace-provided policies—is unlikely to be wise. Ideally, a risk-aware strategy will include some base components available through the workplace, such as group disability and life insurance policies, augmented by tailored products purchased personally. Across both workplace and personal products, there are subtleties…
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An Important Lesson from WeWork

By Blog
The appeal of the company mission As a millennial, I grew up during the tech era and social media “boom.” Facebook was born in Mark Zuckerberg’s Harvard dorm room in 2004, a story now made famous by the 2010 movie “Social Network.” The first Apple iPhone was launched to market in 2007, after the massive success of the iPod in the half dozen years prior. Uber launched in 2009 as an alternative to expensive and inefficient taxicab options, paired with new technology that made it possible to summon transportation from a cell phone. These companies have changed the way people…
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gifting 2019

Do I need to make gifts before the end of the year?

By Blog
With all of the political uncertainty and recent changes in the tax law, our clients are wondering what to do about gifting. Below are answers to three commonly asked questions that we are getting this time of year. Note that this blog covers non-charitable gifts.* 1. Do I need to make gifts before the end of the year? Only if you are making annual exclusion gifts. You may give away $15,000 per person ($30,000 if gift-splitting with a spouse) each year tax-free. If you want to use your annual exclusion for 2019, the gift needs to be completed before the…
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good credit

How to Make Good Credit Better

By Blog
Do you pride yourself on having a good credit score? In the world of credit, there’s good, and then there’s excellent. Even if you are doing most things right when it comes to watching out for your score, there are several lesser known ways to maintain what you have and take your credit to the next level. Understanding how your credit score is calculated is an important place to start. Six basic credit factors go into calculating this score. While all factors matter, some affect your score more than others. From roughly highest impact to lowest, these factors are: Derogatory…
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wealthspire pathways

Wealthspire Advisors Launches Digital Wealth Management Solution, Wealthspire Pathways

In the News
New York, November 21, 2019 – Wealthspire Advisors, an independent investment advisor, today announced the launch of Wealthspire Pathways, a digital wealth management solution that combines the firm’s traditional focus on financial planning and client service with an automated technology platform. Wealthspire Advisors’ goal in launching Pathways is to bring professional financial planning and investment management services to a broader group of clients, including those who are accustomed to using online interfaces. One of the biggest differentiators between Pathways and standard “robo-advisor” platforms is that clients have access to a dedicated Certified Financial Planner (CFP®). Advisors specializing in the platform…
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