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.

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Estate planning actions to consider before year-end
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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

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.

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Seven year-end planning ideas for retirement savings

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.

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Year-end planning ideas for 2023 to lighten the tax burden

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 ...

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Year-end planning review checklist

Year-end planning review checklist

This checklist for year-end planning may help advisors identify ways to minimize taxes and other potential benefits.

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Changes to key figures for Social Security, Medicare in 2024

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.

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Open enrollment presents opportunity to change Medicare plans

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.

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Unraveling the 10-year rule

Unraveling the 10-year rule

The SECURE Act 10-year rule set new guidelines for distributing inherited retirement accounts and has impacted retirement planning.

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Exploring changes in retirement legislation with SECURE Acts

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.

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Consider looking close to home when seeking a loan

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.

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Consider these ways to shield assets from litigation

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.

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Key FAFSA changes will impact student aid

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.

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College-bound students stay on track with a dynamic plan

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.

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Mapping out a plan for studying abroad

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.

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SCOTUS ruling on loan forgiveness underscores need to save

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.

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IRS allowing heirs to skip RMDs in 2023

IRS allowing heirs to skip RMDs in 2023

The IRS recently delivered more guidance for heirs on how to handle RMDs with inherited accounts.

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How interest rates can make or break a strategy

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.

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Why unmarried couples need proactive financial planning

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.

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Tracking ways to avoid withdrawal penalties from retirement accounts

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.

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Often overlooked retirement plans for the self-employed

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.

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Heirs still waiting for clarity on 10-year rule

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.

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College grads: Consider financial actions for your next steps

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.

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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.