Blog

Would you like your estate plan to support your favorite charity and leave a legacy for your family? Two trust types can be used together to help achieve those goals (one familiar and another you may not have heard of): a charitable...

Life insurance can provide peace of mind. But if your estate is large enough that estate taxes are a concern, it’s important not to own the policy at death. Why? The policy’s proceeds will be included in your taxable estate. To avoid...

Managing a retirement plan comes with important responsibilities throughout the year. One of the biggest challenges plan sponsors face is keeping track of the various compliance deadlines tied to plan testing and required filings....

When most people think about estate planning, they focus primarily on tangible assets, such as real estate, investments and personal property. However, in some cases, intellectual property (IP) can make up a substantial portion of an...

A family limited partnership (FLP) allows you to manage and protect your wealth while gradually transferring it to your children or other heirs. Additional benefits include potential tax savings and protection from creditors. And you...

A comprehensive estate plan does more than simply distribute your assets after your death — it also protects your voice, your values and your loved ones during a difficult moment. One critical yet often overlooked component of an...

A Health Savings Account (HSA) can be a valuable asset in your estate. Contributions to an HSA are pretax or tax-deductible, the funds grow on a tax-deferred basis, and withdrawals for qualified medical expenses are tax-free.HSA...

If you made large gifts to family members or heirs last year, you may need to file a 2025 gift return by April 15. So, it’s important to understand whether you’re required to file a federal gift tax return — and when it might be...

Choosing an executor is one of the most important decisions in the estate planning process. This person (or institution) will be responsible for carrying out your wishes, managing assets, paying debts and taxes, distributing property...

Irrevocable trusts provide various estate planning benefits, such as reducing estate taxes and helping to ensure assets are distributed as you wish. But estate planning isn’t a “set it and forget it” process. Families, tax laws and...

Many people think of estate planning as a “one-and-done” task — something you complete and file away. But an estate plan should evolve as your life and finances and relevant laws change. An outdated plan can create confusion,...

A vacation home, rental property or future retirement residence may play an important role in your long-term plans. However, if you hold properties across multiple states, it can create estate planning issues that can be easily...

The gift tax annual exclusion allows you to transfer up to $19,000 (for 2026) per beneficiary gift-tax-free, without tapping your $15 million (for 2026) lifetime gift and estate tax exemption. You can double the exclusion amount if you...

It’s not uncommon for family members to contest a loved one’s will or challenge other estate planning documents. But you can take steps now to minimize the likelihood of such challenges after your death and protect both your wishes and...

In 2026, a significant change in federal tax law takes effect that will reshape estate and wealth transfer planning for many Americans — especially high-net-worth families. After years of uncertainty about the future of historically...

January has a way of prompting reflection. After the pace of the holidays, many people take stock of what has changed—family dynamics, financial priorities, health considerations, and future plans. This “reset” mindset makes January an...

A Closer Look at the 2026 401(k) Contribution Limits

Joshua Rapp, AIF, CIS I

Friday, January 2, 2026

The 401(k) retirement plan has long been a cornerstone of Americans' financial strategies, allowing individuals to save for retirement with tax advantages. As we approach 2026, the Internal Revenue Service (IRS) has announced new...

As 2025 comes to a close, the retirement landscape looks markedly different than it did just a year ago. Technological advancements, SECURE 2.0 implementation, and shifting participant expectations drove a wave of innovation across...

As the year winds down and families gather for the holidays, conversations often turn to gratitude, community, and giving back. This reflective time makes it natural to think about how your values can live on—how generosity today can...

The IRS’s electronic payment requirement for all tax transactions took effect on September 30, 2025. In the two months since, many trustees and estate administrators have transitioned to electronic payments through EFTPS or wire...

In Part One of this series, we explored key tax and charitable planning strategies to help you make the most of the 2025 year-end. Building on those foundational steps, Part Two shifts the focus to broader wealth...

As the holidays approach and the year winds down, the flurry of festivities and to-do lists can easily take center stage. But amid the seasonal rush, it is important to focus on key year-end financial planning opportunities. This 2025...

As the year draws to a close, many of us find ourselves reflecting on what truly matters — our health, our loved ones, our sense of purpose, and the small, quiet moments that bring contentment. This season of gratitude invites us to...

As 2025 wraps up, it’s a fitting time to pause and take stock — not only of markets and economic shifts, but of the personal and financial lessons that shaped this year.The financial world in 2025 was marked by interest rate changes,...

What Are Charitable Remainder Trusts?

Chad M. Halbur, CFA, CTFA

Wednesday, November 12, 2025

As we approach the end of 2025, many business owners and investors are exploring ways to reduce taxes while supporting the causes they care about. A Charitable Remainder Trust (CRT) remains one of the most effective and flexible tools...

The Roth catch-up requirement under SECURE 2.0 is coming — but you still have time to prepare. With enforcement starting in 2027, the next two years provide a valuable window to adjust your tax strategy, review your retirement plan,...

When Congress passed the SECURE 2.0 Act in late 2022, it was billed as one of the most significant retirement reforms in decades. The law aimed to expand access, simplify participation, and increase savings opportunities for American...

For individuals and families with significant wealth, medical expense planning is not just about covering costs. It’s about preserving capital, maintaining liquidity and ensuring healthcare needs are met without disrupting...

Life insurance is often viewed narrowly, both by those seeking retirement planning services and those providing personal financial planning advice, primarily as a tool for replacing income after a premature death. While this is a vital...

Second marriages are increasingly common in America today. With nearly half of all marriages ending in divorce and many individuals choosing to remarry, blended families are now a familiar part of the modern landscape. While second...

When high-net-worth families talk about legacy, the conversation often centers around trusts, estate planning, and intergenerational wealth transfer. But true legacy is much more than financial structures — it’s about the values we...

As a parent or grandparent, you may have diligently saved money in a 529 account to help fund your child's or grandchild's college education. But what happens if they decide college isn't the right path for them? It's a valid question...

As the year winds down, many investors begin reviewing their financial picture to ensure they are on track with their retirement goals and tax planning strategies. One opportunity that often comes into sharper focus during the last...

Life insurance is one of those financial tools we all know we should think about, yet it often ends up on the “someday” list. Unlike a retirement account or a college savings plan, life insurance doesn’t produce a return you can track...

As the year winds down, many people start thinking about holiday plans, family gatherings, and tying up loose ends. But there’s one area that often gets overlooked until it’s too late: your trust and estate plan. Whether you’re...

Peace of Mind for Parents of College Students

Leonetta Rence, CTFA

Wednesday, August 20, 2025

We fall in love the moment our children are placed in our arms—whether by birth or by bond. From that point forward, we pour ourselves into raising them. We’re there to bandage scraped knees, offer hugs after heartbreaks, listen...

Every August, “What Will Be Your Legacy Month” encourages us to pause and reflect on the mark we will leave behind. For many, this means considering the memories, values, and lessons we pass on to the next generation. But legacy isn’t...

As summer unfolds with slower schedules, family travel, and warm evenings, it's easy to pause financial thinking and lean into the moment. But for many households, this quieter season is also the perfect time to reflect, regroup, and...

As summer approaches, your thoughts may drift toward escaping your daily routine. Whether your idea of a perfect vacation is sitting on a pristine beach, fishing in a mountain lake, or playing the back nine between pickleball matches,...

In today’s volatile market, many investors are left asking: What should I be doing right now? Whether it is rebalancing, buying, selling or simply staying the course, uncertainty is prompting a growing sense of urgency to take action....

For many affluent families, the question is not whether they can afford college, but how to fund it most effectively in a way that complements long term wealth planning, tax strategy and legacy goals. From tax advantaged education...

In today’s hyper-partisan climate, it is easy to assume that Democrats and Republicans are fundamentally divided on all aspects of economic policy. However, this assumption does not hold when examined through the lens of financial...

Congress has passed the sweeping One Big Beautiful Bill Act of 2025, a nearly 900-page budget reconciliation and tax reform package now awaiting President Trump’s signature. The legislation cements several campaign promises, makes...

Summer is a time for adventure, relaxation, and making cherished memories with family and friends. Whether you're planning to hike the Alps, cruise the Caribbean, or explore a new city across the world, one thing that likely isn’t on...

Cash balance plans continue to gain traction among many organizations, but professional service firms in particular are taking note — law firms, medical practices, accounting/consulting groups and other closely held businesses look to...

Summer break offers the perfect opportunity to slow down, enjoy quality family time, and explore meaningful activities that don’t always fit into a packed school-year schedule. One of the most impactful lessons you can introduce during...

Featuring Panelists: Cory Parnell, Principal at BGM Michael Andrews, Estate & Trust Planning Expert, BGM Rachel Dahl, Partner at DeWitt LLP Leonetta Rence, Trust & Estate Advisor, Cornerstone Trust Insights from Part 2 of the Estate...

In a world of growing financial complexity and heightened regulatory scrutiny, the need for trust, transparency, and professional guidance in managing wealth has never been greater. As individuals and families look to safeguard their...

Retirement isn’t the end of the road—it’s a brand-new lane on the journey of life. But for many new retirees, that shift from full-throttle workweeks to open, unscheduled days can feel a little… weird. After decades of showing up to a...

Experts discussed current exemption levels, strategies for high-net-worth families, and why now is the time to plan before the TCJA provisions sunset in 2025.

When it comes to estate planning and wealth management, choosing the right type of trust structure is a critical decision. Trusts are powerful tools that help manage and protect assets, ensure smooth generational wealth transfer, and...

Estate planning is meant to bring peace of mind—but life, families, and laws all change. A trust that once met your needs perfectly may now feel outdated or inflexible. Fortunately, there’s a solution that doesn’t require starting from...

Retirement might seem far away when you're in your 30s, 40s, or even 50s, but the earlier you start planning, the more financially secure you will be. Each decade of your working life presents unique opportunities and challenges for...

As we move into the season of renewal and reflection, it’s the perfect time to think about the future—not just in terms of plans and goals, but in making sure your wishes are protected. One of the most crucial yet often overlooked...

Saving for retirement is one of the best ways to build long-term financial security. Making the most of your contributions each year can have a big, compounding impact down the road. With new contribution limits and opportunities in...

Spring Cleaning Your Trust & Estate: A Fresh Start for Your Legacy As spring rolls in, many people focus on decluttering their homes, tidying up their spaces, and embracing a fresh start. However, spring cleaning shouldn’t be limited...

Creating a financial legacy is about more than just accumulating wealth—it’s about ensuring that your loved ones can manage, preserve, and grow that wealth responsibly. Without proper planning, even the most substantial estates can...

Tax season is here again, and for retirees, it presents a crucial opportunity to make strategic financial moves before the April 15, 2025 deadline. While retirement may mean the end of a traditional paycheck, it does not mean an end to...

As an entrepreneur, you've invested time, effort, and capital into building your business. However, many business owners overlook the importance of safeguarding their hard-earned assets through strategic estate planning. Trusts offer a...

When a person passes away without a will or trust, they die "intestate." This means that their estate—everything they own, from property and finances to personal belongings—is distributed according to state laws rather than their...

Spending money is an integral part of daily life, but for many people, it can spiral into an unhealthy habit of overspending. Whether it's impulsive shopping, emotional spending, or lifestyle inflation, excessive spending can lead to...

Inheritance disputes are one of the most common causes of family conflict after the passing of a loved one. Emotions run high, and disagreements over assets, heirlooms, or financial matters can lead to long-term rifts between family...

Financial fraud is a growing concern in today's interconnected world, where digital transactions have become the norm. From identity theft to phishing scams, fraudsters employ increasingly sophisticated techniques to exploit...

The 401(k) retirement savings plan is one of the most common employer-sponsored retirement benefits in the United States. These plans are designed to help employees save for retirement by allowing them to contribute a portion of their...

Achieving Financial Harmony in Relationships Money can be the root cause of many relationship issues. From arguing about how much you spend at brunch to getting defensive when the credit card statement arrives, finances can drive a...

As we step into 2025, the financial world continues to evolve at an unprecedented pace. Staying ahead of trends and gaining a deeper understanding of money management, investing, and wealth-building strategies is more critical than...

Tax season can be a stressful time, but early preparation can save you time, money, and frustration. Starting early gives you the opportunity to gather documents, explore deductions, and make informed decisions. Whether you're filing...

Choosing the right trustee for your estate is one of the most critical decisions you’ll make when setting up a trust. The trustee’s role is multifaceted, requiring financial acumen, legal understanding, and the interpersonal skills to...

Increasing your retirement account deferral by 1% each year is a simple yet powerful strategy that can have profound long-term benefits for your financial future. Whether you're contributing to a 401(k), 403(b), or other similar...

Retirement planning is essential, but it’s often clouded by myths that can lead to poor decisions. As we step into 2024, let’s explore five common retirement myths, the realities behind them, and practical solutions to ensure a secure...

When planning your family’s financial future, you may want to ensure that your wealth benefits your children, grandchildren, and even generations beyond. A generation-skipping trust (GST) is a powerful estate planning tool that helps...

The holiday season is the perfect time to mix up something special. Whether you’re hosting a festive gathering, cozying up by the fireplace, or celebrating virtually with friends, a well-crafted cocktail adds that extra sparkle. Here...

The concept of the Corporate Veil is anchored in the principle of limited liability and has been a cornerstone of corporate law for centuries. Originating in English common law, this doctrine was designed to shield shareholders from...

Christmas is a time of joy and celebration, but it can also strain your wallet if you’re not careful. Between gift-giving, festive meals, travel, and decorations, holiday expenses add up quickly. However, with a clear plan and some...

Importance of Life Insurance for high-net-worth individuals, having an effective life insurance plan is crucial not only for protecting your legacy but also for leveraging financial opportunities. When most people think about risk...

As employers continue to seek ways to attract and retain top talent, offering competitive retirement plans like a 401(k) has become a standard part of the benefits package. However, managing a 401(k) plan involves more than just...

Thanksgiving is right around the corner—a holiday that brings family, friends, and loved ones together for a warm celebration of gratitude and togetherness. It’s a time to pause, reflect on the blessings of the past year, and relish in...

As the year draws to a close, now is the perfect time to review and finalize key financial tasks that can set you up for success in the coming year. This checklist will guide you through essential areas to consider, from maximizing...

Turning 18: Why a Power of Attorney is Essential for Young Adults

Allyson Rodgers, CTFA

Wednesday, November 6, 2024

When a child turns 18, they reach an important milestone: adulthood. This transition brings new freedoms and responsibilities, but it also introduces legal changes that many parents and young adults overlook. One crucial yet often...

Estate tax planning is a crucial aspect of wealth management, especially for high-net-worth individuals. With potential changes in tax laws on the horizon, it’s more important than ever to understand how to structure your estate plan...

The SECURE Act 2.0, officially known as the "Securing a Strong Retirement Act of 2022," builds upon the original SECURE Act of 2019 and aims to enhance retirement savings for Americans. It introduces a variety of provisions designed to...

Guiding Beneficiaries Through Grief: Best Practices for Trust Administrators

Allyson Rodgers, CTFA

Wednesday, October 9, 2024

Losing a loved one, whether expected or not, is one of the hardest challenges in life. In the midst of grief, beneficiaries often face an emotional whirlwind while trying to navigate practical matters such as settling an estate. Along...

Trusts are powerful estate planning tools that can help manage and protect your assets, provide for loved ones, and ensure your wishes are carried out after your passing. While there are many different types of trusts, they will fall...

As you build wealth throughout your life, one of the most important aspects of financial planning is ensuring a smooth transition of assets to future generations. Properly preparing for generational wealth transfer can help preserve...

Selecting the right jurisdiction, or situs, for a trust is a crucial decision in estate planning. It can significantly impact the flexibility, cost, and overall effectiveness of your trust. South Dakota has emerged as one of the top...

When planning for the future, ensuring that your assets are managed and distributed according to your wishes is essential. Wills and trusts are two of the most common tools used in estate planning to achieve these goals. While both...

A 401(k) plan is one of the most valuable benefits an employer can offer, providing a crucial tool for employees to save for retirement. However, managing a 401(k) plan comes with responsibilities, and mistakes can be costly—for both...

The Value of Using Trusts to Pass Inheritance Versus Outright Gifts to Children

Chad M. Halbur, CFA, CTFA

Thursday, August 8, 2024

As a professional in the trust industry, a key discussion I have with clients is regarding the most effective methods for transferring wealth to the next generation. While outright gifts may seem straightforward, using trusts provides...

Tax Savings Through Charitable Giving: The CRT Advantage

Chad M. Halbur, CFA, CTFA

Monday, July 8, 2024

What Are Charitable Remainder Trusts?A Charitable Remainder Trust (CRT) can be an effective tool for managing the tax implications of selling a business while also benefiting a charity. A CRT is an irrevocable trust that generates a...

Parents Beware: The Legal Documents You Need Before Sending Your Child to College

Leonetta Rence

Sunday, June 9, 2024

We fall in love with our new bundle of joy when they are handed to us at birth or when we welcome them into our hearts. We spend the next eighteen years nurturing our children, putting band-aids on scraped knees, doling out hugs when...

We all want to have a large retirement nest egg when we reach retirement age. So what’s the best way to do this? The answer is pretty obvious, start early and be consistent. This is an easy concept to remember and strive for, but it’s...

Leaving a Legacy of Charitable Giving for Your Children

Leonetta Rence

Tuesday, April 9, 2024

As parents, we want to be an example for our children and show them that doing a good deed is always good. We can involve our children in our causes and show them that there are those less fortunate than we are and could use our help....

With the Secure Act 2.0 recently passing into law, there are many new provisions affecting retirement plans and IRAs. This new law has many changes. Some that that are in effect today and others that will take effect in later years....

Time to Dust Off and Update Your Estate Planning Documents

Chad M. Halbur

Saturday, March 9, 2024

Estate planning documents are not a one size fits all approach. Your estate documents need to succeed in intention and complexity as your financial assets and income grow and increase in complexity. The process of updating estate...

Looking to Retain Key Talent or Attract New Hires in Today’s Competitive Job Market?

Leonetta Rence

Friday, February 9, 2024

In the dynamic landscape of today’s workforce, the pursuit of effective strategies to retain valuable employees and attract new talent is more critical than ever. Enter the realm of Non-Qualified Deferred Compensation (NQDC) plan....

Attention Business Owners: It's Time for a Review of Your Company Retirement Plan

Chad M. Halbur, CFA, CTFA

Friday, January 19, 2024

As a fellow business owner, I know that the summer months present an excellent opportunity to assess our company’s progress and explore new ventures. One project I encourage all our clients to consider is their company retirement plan....