Basis: Carryover or Stepped-Up Cost Basis?
Mar 17, 2025
Income tax basis can be an important factor in deciding whether to make gifts during your lifetime or transfer property at your death. This is because the income tax basis for the person receiving the property depends on whether the transfer is by gift or at death. This, in turn, affects the amount of taxable gain subject to income tax when the person sells the property.
Tags: Estate Planning, Family Wealth, financial advisor, financial advisor charlotte nc, Financial Help, Financial Planner Charlotte NC
Estate Planning Checklist for When a Spouse or Parent Passes
Mar 10, 2025
When you lose a spouse, partner, or parent, the grief can be overwhelming. In the midst of that grief, life goes on. There are arrangements to be made, things to be taken care of – and in recognition of this reality, here is a checklist that you may find useful at such a time. If not, estate planning is an important aspect of one’s overall financial picture. It plans for what comes next.
First, gather documents. Ask for help from other family members if you need it. Start by gathering the following. (more…)
Tags: Certified Financial Planner Charlotte NC, Estate Planning, financial advisor charlotte nc, Personal Finance
The Need for Power of Attorney
Mar 3, 2025
The point of the POA. A power of attorney (POA) is a legal instrument that delegates an individual’s legal authority to another person. If an individual is incapacitated, the POA assigns a trusted party to make decisions on his or her behalf. (more…)
Tags: Estate Planning, financial advisor charlotte nc, retirement
Couples Retiring on the Same Page
Feb 28, 2025
What does a good retirement look like to you? Does it resemble the retirement that your spouse or partner has in mind? It is at least roughly similar?
The Social Security Administration currently projects an average of 18 years for a retiring man and 21 years for a woman (assuming retirement at age 65). So, sharing the same vision of retirement (or at least respecting the difference in each other’s visions) seems crucial to retirement happiness. (more…)
Tags: financial advisor charlotte nc, Financial Planning, Personal Finance, retirement, Retirement Planning, Retirement Tax Savings
Creating a Retirement Strategy
Feb 14, 2025
Across the country, people are saving for that “someday” called retirement. Someday, their careers will end. Someday, they may live off their savings or investments, plus Social Security. They know this, but many of them do not know when, or how, it will happen. What is missing is a strategy – and a good strategy might make a great difference.
A retirement strategy directly addresses the “when, why, and how” of retiring. It can even address the “where.” It breaks the whole process of getting ready for retirement into actionable steps. (more…)
Tags: financial advisor charlotte nc, Retirement Planning
Tax Planning for Income
Jan 24, 2025
You don’t want to pay more in federal income tax than you have to. As you begin to gather your tax documents for this year, here are five things to consider when it comes to keeping more of your income.Tags: Certified Financial Planner Charlotte NC, Family Wealth, financial advisor charlotte nc, Retirement Tax Savings, Tax Deductions, Tax Planning, taxes
Investment Challenges of the Affluent Investor
Jan 22, 2025
High net worth investors face investment challenges that some would consider unique to their financial status. The fundamental tenets of investing apply just as equally to them as any other investor, but these investors need to be mindful of issues that typically arise only from substantial wealth.
Let’s examine a few of these.
Tags: charlotte NC, financial advisor, financial advisor charlotte nc, Financial Planning, Investment Planning, Investment Portfolio, Investments, Personal Finance
How Market Cycles Can Impact Retirements
Dec 4, 2024
A thoughtful retirement strategy may help you pursue your many retirement goals. That strategy must consider many factors, and here are just a few: your income needs, the order of your withdrawals from taxable and tax-advantaged retirement accounts, the income tax implications of those withdrawals, and sequence of return risk. (more…)
Tags: financial advisor charlotte nc, Tax Advantages
Charitable Giving
Nov 4, 2024
When developing your estate plan, you can do well by doing good. Leaving money to charity rewards you in many ways. It gives you a sense of personal satisfaction, and it can save you money in estate taxes.Tags: charlotte NC, financial advisor, financial advisor charlotte nc, Tax Advantages, Tax Deductions
Life Insurance and Estate Planning
Oct 28, 2024
Life insurance has come a long way since the days when it was known as burial insurance and used mainly to pay for funeral expenses. Today, life insurance is a crucial part of many estate plans. You can use it to leave much-needed income to your survivors, provide for your children’s education, pay off your mortgage, and simplify the transfer of assets. Life insurance can also be used to replace wealth lost due to the expenses and taxes that may follow your death, and to make gifts to charity at relatively little cost to you.Tags: Certified Financial Planner Charlotte NC, Estate Planning, Family Wealth, financial advisor charlotte nc, Insurance, Legacy, Retirement Planning
More Insights
Mar 17, 2025
Income tax basis can be an important factor in deciding whether to make gifts during your lifetime or transfer property at your death. This is because the income tax basis for the person receiving the property depends on whether the transfer is by gift or at death. This, in turn, affects the amount of taxable … Continue reading “Basis: Carryover or Stepped-Up Cost Basis?”
Mar 14, 2025
Risk is a factor in any investment decision that you make. Your tolerance for risk is something that you will want to consider when you make decisions alongside your trusted financial advisor in Charlotte NC. Your risk tolerance is balanced against your time horizon, meaning the time between now and your anticipated retirement date.
Mar 12, 2025
Market volatility has arrived in force. The slowdown in the economy and more policy-driven volatility was the consensus expectation coming into 2025. What was not expected, however, was how much the Trump administration would lean into tariffs. During President Trump’s first term, in most instances, investors observed the administration delaying, reducing, or even removing tariffs … Continue reading “Market Update – Navigating Volatility”
Mar 10, 2025
When you lose a spouse, partner, or parent, the grief can be overwhelming. In the midst of that grief, life goes on. There are arrangements to be made, things to be taken care of – and in recognition of this reality, here is a checklist that you may find useful at such a time. If … Continue reading “Estate Planning Checklist for When a Spouse or Parent Passes”
Mar 7, 2025
When you think of Social Security, you probably think of retirement. However, Social Security can also provide much-needed income to your family members when you die, making their financial lives easier. Your family members may be eligible to receive survivor benefits if you worked, paid Social Security taxes, and earned enough work credits. The number … Continue reading “Social Security Survivor Benefits”
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