Imagine a family with a sizable net worth. They’ve worked hard for their money and want to make sure that every cent possible is passed to their children without being subject to burdensome estate taxes. At the same time, they need to make sure they have enough money to cover their needs. This is a great situation for a strategic estate planning tool: the Grantor Retained Annuity Trust or GRAT. What is a GRAT? A GRAT is a type of trust you can create and fund with assets from your portfolio. The trust has a predefined term, usually at least two years, with a regular payment schedule for return ..read more

Many of our clients are passionate about charitable causes while also maximizing the tax benefits of their giving. If this matches your philosophy, then a Donor-Advised Fund (DAF) is a powerful tool for your arsenal. In this post, we’ll explore some of the specifics of a DAF and when this strategy may come in handy. Download our Guide to Donor-Advised Funds for even more information. First, what is a donor-advised fund? Think of a donor-advised fund (DAF) as your own personal charitable account that acts as an intermediary for charitable giving. A DAF is simply an account, created through a pu ..read more

As retirement approaches, it’s essential to know the rules governing your retirement accounts. One major concern for retirees is understanding Required Minimum Distributions (RMDs) and how they can impact your cash flow and taxes. Recent changes in RMD rules make it even more critical for individuals near retirement age to familiarize themselves with these requirements. The guide linked below provides a comprehensive overview to help you navigate RMDs. What is a Required Minimum Distribution (RMD)? When you have contributed money into a tax-deferred account like a 401(k) or IRA, Uncle Sam even ..read more

In late December 2022, Congress passed a massive omnibus spending bill, dubbed “SECURE Act 2.0,” that included several big changes to retirement plans. This legislation comes in the wake of the original SECURE Act from three years ago (SECURE = Setting Every Community Up for Retirement Enhancement). The original Act raised the age at which retirees must start drawing from their retirement accounts from 70 1/2 to 72. It also curtailed the “stretch IRA,” changing how retirement accounts can be inherited. While this article won’t cover every provision in the several thousand pages of legislation ..read more

Wondering how the upcoming midterm elections might impact your portfolio? Glassman Wealth recently hosted a conversation with Greg Valliere, a political analyst and Chief U.S. Policy Strategist at AGF Investments. Greg is one of the leading experts at connecting the dots between what is going on in Washington and on Wall Street. Both the House of Representatives and Senate are up for grabs, and that will have an enormous impact on the next two years. Here were a few predictions for the midterm elections and other top political issues: Election Outlook: It is likely the House will flip to a Re ..read more

The past year has been a rough time for the American consumer. The specter of inflation, which had not reared its ugly head in the official numbers since the early 80s, returned with a vengeance. July 2022 inflation marked an 8.5% increase over the prior year as measured by the Consumer Price Index (CPI). This was a slower pace than the 9.1% year-over-year increase in June, with July itself being flat. Tired of your cost of living going up and inflation wreaking havoc on stock and bond markets? Here’s the good news. There are several indicators that inflation may continue slowing down in the m ..read more

Imagine a family with a sizable net worth. They’ve worked hard for their money and want to make sure that every cent possible is passed to their children without being subject to burdensome estate taxes. At the same time, they need to make sure they have enough money to cover their needs. This is a… The post Your Guide to Grantor Retained Annuity Trusts (GRATs): A Thoughtful Way to Minimize Estate Tax appeared first on Glassman Wealth Services ..read more

As retirement approaches, it’s essential to know the rules governing your retirement accounts. One major concern for retirees is understanding Required Minimum Distributions (RMDs) and how they can impact your cash flow and taxes. Recent changes in RMD rules make it even more critical for individuals near retirement age to familiarize themselves with these requirements.… The post Your Guide to Required Minimum Distributions (RMDs) appeared first on Glassman Wealth Services ..read more

In a time with so much advancement in technology and changes in the way we live, now is the perfect time to hear a futurist’s perspective on what our lives may be like in the coming years. Glassman Wealth recently hosted a fascinating conversation with Rohit Bhargava, the founder of the Non-Obvious Company, best-selling author… The post Glassman Wealth Tackles Non-Obvious Thinking appeared first on Glassman Wealth Services ..read more

As someone who is always on the lookout for innovative strategies and solutions and fascinated by the latest gizmos and gadgets, I felt compelled to make my latest video and introduce you to a cutting-edge technology that is changing the way we think about artificial intelligence – Chat GPT – an AI website that is… The post Glassman Tackles Artificial Intelligence appeared first on Glassman Wealth Services ..read more