There are two SECURE Acts, both of which were designed to enhance retirement savings and provide more flexibility for savers by updating and introducing new retirement planning rules.

We present our first quarter 2025 issue of Wealth Management Insights titled “Tax Planning in an Ever-Changing Environment.” In it, Wealth Management Chair Samantha Pahlow, CTFA, AWMA®, discusses strategies for increasing tax efficiency in client portfolios, including tax diversification, tax-efficient investing, and tax-efficient withdrawal strategies. Tyler Conroy, CFP®, CPWA®, provides insights into tax-efficient retirement withdrawals, emphasizing the importance of planning the sequence and timing of withdrawals to manage taxes and extend the longevity of assets. Scott Christianson, CFP®, explains the importance of tax diversification in investment portfolios, detailing various account types and strategies to manage tax risk and provide flexibility for tax-efficient distributions in the future.

Wrapping up any tax year results in a flurry of activity. Not just holiday shopping and family gatherings, but also tax strategy implementation and estate planning actions. At Ferguson Wellman, we regularly provide guidance and field questions about appropriate strategies for our clients’ situations.

Casia Chappell, CFP®, CPWA®, discusses the benefits and workings of irrevocable life insurance trusts (ILITs), highlighting their role in estate planning by providing asset protection, estate tax mitigation and efficient wealth transfer.

As the year draws to a close, it's an opportune time to review your financial situation and ensure you meet year-end deadlines to maximize your financial benefits.

We present our fourth quarter 2024 issue of Wealth Management Insights titled “Creating a Family Legacy of Giving” In it, Wealth Management Chair Samantha Pahlow, CTFA, AWMA®, offers guidance on how to establish a family vision around charitable giving. Mary Lago, CFP®, CTFA®, provides insights into tax-efficient investing, retirement account strategies and charitable giving. Nate Putnam, CFP®, provides further considerations for the changing philanthropic landscape.

Wealth Management Chair Samantha Pahlow, CTFA, AWMA, presents the firm’s quarterly Wealth Management Insights titled, “Creating a Family Legacy of Giving.” In the video, she discusses how to instill philanthropic values in children and highlights several tax-efficient giving strategies to consider for year-end.

In the realm of estate planning, the terms "per stirpes" and "per capita" play a pivotal role in how assets are distributed among beneficiaries. Understanding both terms is critical for anyone looking to ensure that their assets are transferred according to their wishes.  

In recent years, a growing number of individuals and families have considered changing their state of domicile as a strategy to reduce their state income tax burden. Not surprisingly, states with lower income taxes and taxpayer-friendly structures experienced strong inbound migration according to IRS migration data based on 2021 and 2022 tax return filings. Whether prompted by high state income, estate or property taxes, the decision to change domicile is significant with legal and financial implications.

For business owners, planning for the future transition of their business is crucial. Succession planning isn't just about deciding who will take over when you retire; it’s also about ensuring a smooth transition if something unexpected happens. This is where buy-sell agreements can be beneficial.