Wealth Management Center
Preserving and enhancing wealth for the future with financial-planning experts Bill Cass and Chris Hennessey
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Preparing heirs before a loved one passes
September 22, 2023 | Estate and Wealth Transfer
Individuals may want to prepare heirs with a final planning guide before a loved one passes away.
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)
Resources
More resources to address all aspects of financial planning
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 WEBCAST SERIES
March 15, 2023
Ideas to engage clients during tax season
Bill Cass, CFP®, CPWA®, Director Wealth Management Programs at Putnam
Chris Hennessey, Lawyer and CPA, Putnam Business Advisory Group
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.
Keys to saving taxes with a domicile change
Considerations when relocating and establishing a new domicile to try to save on taxes.
Decision made: Why 529 plans are a popular choice for college
A growing number of families are using 529 plans to save for college.
Birthdays may signal time to take financial action
In addition to birthdays and life changes, such as retirement, age milestones are meaningful for financial planning.
As FAFSA rules change, more grandparents may save in 529 plans
More grandparents may consider funding a 529 plan for their grandchildren as financial aid rules change.
Couples have unique option to plan for risk of future higher estate taxes
The expiring tax law provides a planning dilemma and opportunity for high-net-worth households concerned about the future of federal estate taxes.
Tax planning is a focus for all seasons
Staying focused on tax planning can help individuals find ways to improve their tax situation throughout the year.
Examining ways to fix Social Security
The latest projections about Social Security indicate the trust fund will be able to pay timely benefits until 2034 when the fund will be depleted.
There is still time to try to save on taxes before the filing deadline
With the April 18, 2023 tax-filing deadline approaching, it’s not too late to consider some strategies that could reduce taxable ...
Retirement planning for the end of the year
The fourth quarter is an opportune time to take inventory of retirement accounts and review actions such as required minimum distributions and planning strategies before year-end.
Prepare clients for year-end planning
Gifting, required retirement distributions, and charitable donations are among many planning actions that need attention by the end of the year.
There's still time to implement tax-smart strategies
Determining an individual's tax bracket will drive which tax-smart strategies to implement, including managing income, capital gains and losses.
Some estate-planning benefits may be lost if not used
Investors may want to explore gifting and other estate-planning strategies to take advantage of tax benefits that may be limited.
Debt ceiling debate and federal budget on Capitol Hill agenda
As Congress faces a December deadline for the federal budget, the debt ceiling debate was moved up sooner than expected.
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.