Wealth Management Center
Preserving and enhancing wealth for the future with financial-planning experts Bill Cass and Chris Hennessey
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Estate planning actions to consider before year-end
November 29, 2023 | Estate and Wealth Transfer
As year-end approaches, there are several strategies for investors to consider as they review their tax and estate planning.
Tax outlook and planning considerations
- Client seminar – Distribution planning under the SECURE Act (ppt)
- Understanding charitable giving strategies (pdf)
- 10 Roth IRA strategies
- Converting a traditional IRA to a Roth IRA (pdf)
- Apply a net operating loss to a Roth IRA conversion (pdf)
- Top questions from advisors about taxes
- Direction of estate taxes among top advisor concerns
- Client seminar – Tax strategies for the current landscape (ppt)
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About this blog
Financial-planning experts Bill Cass and Chris Hennessey weigh in each week with a range of insights about complex financial planning needs.
William Cass, CFP®, CPWA®
Director of Wealth Management Programs for Putnam.
Chris Hennessey
Lawyer and CPA, Faculty Director, Babson College School of Executive Education, is a member of the Putnam Business Advisory Group.
ADVISOR-ONLY WEBINAR SERIES
November 9, 2023
Top year-end planning considerations
Bill Cass, CFP®, CPWA®, Director Wealth Management Programs at Putnam
Chris Hennessey, Lawyer and CPA, Putnam Business Advisory Group
Estate planning actions to consider before year-end
As year-end approaches, there are several strategies for investors to consider as they review their tax and estate planning.
Seven year-end planning ideas for retirement savings
There are several planning ideas for retirement savings at year end that may help taxpayers avoid costly mistakes and improve tax efficiency.
Year-end planning ideas for 2023 to lighten the tax burden
As year-end approaches, there may be steps taxpayers can take to better manage their current tax bill or to hedge ...
Year-end planning review checklist
This checklist for year-end planning may help advisors identify ways to minimize taxes and other potential benefits.
Changes to key figures for Social Security, Medicare in 2024
Recently announced key figures for Social Security and Medicare for 2024 include changes to benefit amounts and premium costs.
Open enrollment presents opportunity to change Medicare plans
Medicare holds an open enrollment period that allows participants to sign up or make changes to existing plans, which could result in cost savings.
Unraveling the 10-year rule
The SECURE Act 10-year rule set new guidelines for distributing inherited retirement accounts and has impacted retirement planning.
Exploring changes in retirement legislation with SECURE Acts
Explore six changes to retirement from the passage of the SECURE Acts and get essential insights to enhance your retirement planning.
Preparing heirs before a loved one passes
Individuals may want to prepare heirs with a final planning guide before a loved one passes away.
Consider looking close to home when seeking a loan
An interfamily loan may be a viable alternative to a current mortgage for family members looking to buy a home.
Consider these ways to shield assets from litigation
An asset protection strategy should be part of any financial plan to protect assets from creditors and litigation.
Key FAFSA changes will impact student aid
Important changes to the FAFSA filing will take effect this year and impact student aid levels for some families.
College-bound students stay on track with a dynamic plan
Families with college-bound students may want to consider a plan with a dual approach to help achieve college planning goals.
Mapping out a plan for studying abroad
As more students consider studying abroad it is important to understand program requirements and map out a plan.
SCOTUS ruling on loan forgiveness underscores need to save
The need to save for college becomes more significant with less federal aid available and loan forgiveness proposal is struck down by SCOTUS.
IRS allowing heirs to skip RMDs in 2023
The IRS recently delivered more guidance for heirs on how to handle RMDs with inherited accounts.
How interest rates can make or break a strategy
Many financial planning strategies are linked to IRS interest rates and moves in rates may impact the success of a planning strategy.
Why unmarried couples need proactive financial planning
The number of unmarried partner households is on the rise and these couple face some unique financial planning challenges.
Tracking ways to avoid withdrawal penalties from retirement accounts
Sometimes savers find they need funds from their retirement account and it is important to understand the ways to avoid early withdrawal penalties.
Often overlooked retirement plans for the self-employed
Roughly 25 million small businesses are self-employed individuals and many do not have retirement plans in place.
Heirs still waiting for clarity on 10-year rule
Although the Treasury Department issued proposed regulations for the new 10-year rule in February 2022, heirs are still waiting for final clarification.
College grads: Consider financial actions for your next steps
Building a solid financial strategy may be the most important first step to help college grads achieve their dreams.
Tax season planning under the TCJA
A new perspective on tax deductions
Optimize the small-business tax deduction
Estate planning considerations before the law sunsets
New strategies emerge for Roth conversions
Tax rates lowered, deductions limited in tax law
The tax reform law lowers tax rates and imposes new limits on many deductions.
Many deductions changed in new tax law
The standard deduction doubles while some popular tax deductions are limited or eliminated by tax reform.
Estate planning remains vital
Despite higher exclusion levels for federal estate taxes, estate planning remains vital for taxpayers.
Tax reform creates new deduction for small businesses
Understanding the new 20% deduction for business income is key for small business owners.
New tax law influences individual planning
Individuals may consider various strategies for charitable giving and financial planning in the new tax environment.
$30T in wealth transfer creates opportunity
Advisors may consider expanding their value proposition and professional network to grow their business.
Top strategies for advisors when heirs inherit wealth
Learning about an investor's family can help advisors connect with the next generation.
Social strategies for meeting the next generation
Start with social media and expand to social events to reach out to the next generation of clients.
Use family meetings for more effective wealth transfer
Hosting a family meeting can help investors and their children focus on values, planning issues, and philanthropy.
College savings plans offer tax advantages
Explore tax-advantaged savings when planning for college.
Chris Hennessey is Professor Emeritus of Law at the Babson College School of Executive Education and member of the Putnam Investments Business Advisory Group. His opinions do not necessarily reflect those of Putnam Investments.