Wealth Management Spotlights features a curated collection of articles, insights and commentary on wealth management topics, offering expert perspectives from our team. It highlights thought leadership, with updates on financial planning and practical guidance for informed decision-making.
Wealth Horizon
Our Wealth Horizon™ process is designed to assess your future, including understanding your financial, family and philanthropic goals as well as your portfolio, cash flows, and other financial resources, your retirement date, tax issues, social security and other important variables. We believe wealth planning is an ongoing process, developed over time and enhanced by a deep knowledge of you, your goals, and your financial resources
Umbrella Insurance
Umbrella Insurance is a type of liability insurance that provides an extra layer of protection above and beyond the limits of your regular homeowners, auto, or other primary insurance policies. It's to protect you from large, unexpected claims or lawsuits that could potentially exceed the coverage limits of your other policies, helping to safeguard your assets and future earnings.
Roth IRA Conversions
A Roth IRA conversion is the process of moving funds from a pre-tax retirement account, such as a Traditional IRA, and 401(k), into an after-tax Roth IRA. The strategy can be used to take advantage of low-tax-rate years and accumulate wealth in a Roth, which offers tax-free growth and tax-free withdrawals.
Backdoor Roth IRAs
A backdoor Roth IRA is not a distinct type of IRA, but rather a strategy. It allows high-income earners—who exceed the income limits for direct Roth IRA contributions—to indirectly contribute by first making a contribution to a traditional IRA and then converting those funds into a Roth IRA.
Qualified Charitable Distributions
Social Security
Social Security is a federal program in the United States designed to provide financial assistance to eligible individuals in retirement, as well as to individuals with disabilities or survivors of deceased workers. It serves as a source of income for millions of Americans, offering benefits to workers and their families in the form of monthly payments.
A Qualified Charitable Distribution (QCD) is a direct transfer of funds from an individual retirement account (IRA) to a qualified charity that allows individuals aged 70½ or older to exclude the distribution from income, while simultaneously satisfying their required minimum distribution (RMD) requirement
from their IRA.
Medicare
Medicare is a federal health insurance program primarily for individuals age 65 and older. It also covers certain younger individuals with disabilities or specific health conditions, such as end-stage renal disease (ESRD) or amyotrophic lateral sclerosis (ALS). It provides essential health coverage for millions of Americans.
LGBTQ+ Financial Planning
LGBTQ+ financial planning involves addressing unique challenges and opportunities specific to individuals in the LGBTQ+ community. While many aspects of financial planning are universal, LGBTQ+ individuals and couples often face different considerations that require tailored strategies.
Superfunding 529
Superfunding refers to the practice of making multiple-years worth of contributions to a 529 education savings plan, to take advantage of additional tax-deferred compounding inside
the account.
Excess 529 Funds
Excess 529 funds refer to money in a 529 college savings plan that is not needed for the beneficiary's qualified educational expenses, such as tuition, fees, or books. This can occur if the beneficiary receives scholarships, decides not to attend college, or has leftover savings after completing their education. There are several options for handling excess 529 funds.