Smarter Giving with a DAF

In the charitable giving realm, donor advised funds (“DAFs”) have become increasingly popular and valuable planning vehicles.

DAFs offer several advantages, allowing you to optimize your tax planning as you streamline and fulfill your philanthropic goals. Many families could benefit from the flexibility and simplicity of a DAF while supporting the causes most important to them.

To help guide your planning conversations about strategic giving, we have created this flowchart. It covers key factors to consider regarding DAFs, including:

• Charitable goals

• Tax planning goals

• Funding strategies

• Basic mechanics of DAFs

• Alternative charitable giving strategies

For a broader discussion, consider pairing this flowchart with our “What Issues Should I Consider When Establishing My Charitable Giving Strategy?” checklist.

Should You Roll Over Your 401(k)?

401(k)s and IRAs have many unique features that may be beneficial to you, depending on your circumstances. The decision to roll funds out of a former employer’s plan involves more factors than just fees and investment selection.

To help make this analysis easier, we have created the “Should I Roll Over My Dormant 401(k)?” flowchart. It addresses some of the most common issues that should be considered before doing a rollover, including:

• Common IRA and 401(k) features and differences

• Net Unrealized Appreciation options

• Age-based distribution options

• Taxes and penalties in an IRA vs. a 401(k)

• Availability/existence of loans and the impact of a rollover

• Hardship Withdrawals

• Substantially Equal Periodic Payments

Time for a 401k Rollover?

Estate Planning Checkup

Estate planning is a critical aspect of the financial planning process. Reviewing your documents is an important exercise, both at the outset and throughout the planning process.

However, this can be a daunting task for you and your team of advisors. Many people find this exercise tedious and, often, confusing.

To help guide your document review, we have created this checklist. It covers key considerations regarding the most common estate planning documents, including:

• Wills

• Living Trusts

• Irrevocable Trusts

• Powers of Attorney

• Living Wills

To pair with this resource, or to guide a more general discussion with clients, please see our “What Issues Should I Consider Before I Update My Estate Plan?” checklist.

Cash Flow Review

The health of every financial plan depends heavily on sound cash flow planning.

While most people tend to know what they should do, in reality they often fall short of taking even the most basic steps toward tracking and managing their cash flow. You can have a dramatic long-term impact on your financial well-being by simply increasing your awareness of your spending and establishing discipline and accountability.

To help guide you toward creating and managing a cash flow plan that supports your lifestyle and goals, we have created this checklist. It covers cash flow planning basics, including:

• Income sources

• Essential and discretionary spending

• Debt and taxes

• Goal funding

• Monitoring strategies

Creating a cash flow plan is an essential element at the outset of financial planning.

Charitable Giving Strategy Review

What Issues Should I Consider When Establishing My Charitable Giving Strategy?

Many of you are charitably inclined but need help aligning their resources, priorities, and philosophy.

This flowchart helps you consider and implement the best charitable giving strategy for your family or organization. It covers:

• Philanthropic motivations and goals

• Cash flow considerations

• Asset selection when funding gifts

• Charitable giving vehicles

• Tax planning and deductibility

By analyzing each unique situation, your Financial Advisor can identify opportunities and model outcomes in order to optimize the impact of your charitable gifts.

Key Issues in Health and Life Insurance Policies

Your life and health insurance policies are a key part of your overall financial plan. It’s important to review these policies each year to ensure that you has the coverage you need. If there are gaps, you can work to implement proper coverage.

In this checklist we focus on issues to consider when reviewing your policies, including:

• Health Insurance

• Life Insurance

• Disability Insurance

• Long-term Care Insurance

For Your Next Annual Review Meeting

Issues To Consider In Your Next Annual Review Meeting

This checklist covers 40 of the most important planning issues to identify and consider during your annual review meeting. It’s structured as follows:

• Cash Flow Issues

• Asset & Debt Issues

• Insurance Planning Issues

• Tax Planning Issues

• Long-Term Planning Issues

• Other Issues

For Your Next Annual Review Meeting!

Your Master Plan and Life Goals

Goal setting is fundamental to sound financial planning.

Often, you may have difficulty expressing and assigning precedence to your goals. Or, you may simply overlook a need or objective. You are then tasked with the challenge of uncovering and framing your goals.

In response to this challenge, we’ve created this “Master List Of Goals.”

These foundational questions help you expand your understanding and awareness of possible goals for you to consider, including:

• Retirement and lifestyle goals

• Tax planning & healthcare goals

• Self-development and professional goals

• Estate planning and wealth transfer goals

It is essential to identify and prioritize your objectives before making changes to your financial plan.

New Year Planning Checkup

The start of the year is a great time for a financial check-up. In addition to reflecting back on the prior year, you may be particularly motivated in January to consider making financial resolutions for the future.

Schedule a free CFP® consultation today to review your circumstances and goals. Consider working with a Certified Financial Planner™ Professional to help guide your toward impactful improvements.

If you're ready to make a fresh start this year, we have created this checklist ro help frame your conversation with your Financial Advisors. It covers fundamental considerations, including:

• Personal issues

• Cash flow issues

• Asset and debt issues

• Tax issues

• Insurance issues

• Legal issues

Here are a few key financial numbers to keep in mind.

In some cases, those numbers are annual limits that change each year. Other times, the figures do not often change, but are used frequently. Given the variety of sources that report relevant numbers, it can be difficult to quickly find the right reference.

In response to this challenge, we’ve created the two-page “Important Numbers” resource. This quick reference guide covers the most important annual limits as well as figures that are commonly referred to during the year. It includes:

• Tax rates for MFJ, Single, and Estates/Trusts

• AMT annual limits

• LTCG rates for MFJ, Single, and Estates/Trusts

• Standard deductions for MFJ and Single

• Social Security annual limits (including earning limits)

• Full Retirement Age chart

• Social Security taxation summary for MFJ and Single

• IRMAA surcharges

• Retirement plan annual limits

• Traditional and Roth IRA annual limits

• Education tax credits

• Uniform Lifetime Table (abbreviated version)

• Single Lifetime Table (abbreviated version)

• Estate and gift tax annual limits

• HSA annual limits