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This month's edition kicks off with the news that Holistiplan has announced the rollout of a new estateplandocument extraction tool to stand alongside its highly popular tax return scanning tool – which highlights how advances in AI technology have allowed tools like Holistiplan to go beyond tax returns and scan nearly any kind of document (..)
Read the analysis about these announcements in this month's column, and a discussion of more trends in advisor technology, including: Datalign Advisory, a data-driven advisor lead generation platform, has raised $5 million, with the announcement underscoring the reality that despite the many complaints from advisors about the cost and quality of paid (..)
This month's edition kicks off with the news that digital estateplanning platform Wealth.com has raised a whopping $30 million in Series A funding, following on the heels of Vanilla's follow-on $20M capital round just a few months ago – which on the one hand reflects the anticipated enthusiasm for solutions that can help advisors efficiently (..)
This month's edition kicks off with the news that estateplanning platform Wealth.com has launched Ester, an AI-driven 'legal assistant' that uses machine learning to help advisors quickly review and extract the key information from clients' estateplanningdocuments, as it joins FP Alpha in the competition to become 'Holistiplan for estateplanning (..)
One of the most important decisions you’ll make when designing your estateplan is who to name in the various fiduciary roles: trustee, personal representative, executor and agent. The post Choosing the Right Trustee for Your EstatePlan appeared first on Carson Wealth.
beehiiv.com) A round-up of the past month's advisor-tech news including Vanilla's new "estate advisory" platform. kitces.com) Estateplanning Four things to consider in anticipation of 2026. financial-planning.com) Wealth.com's Ester will help you read estateplanningdocuments. (matts-newsletter-7a3f46.beehiiv.com)
Read the analysis about these announcements in this month's column, and a discussion of more trends in advisor technology, including: FP Alpha unbundles its EstatePlanning Lab solution for automatically reading and summarizing clients' estateplanningdocuments available as a stand-alone option, and rolls out a new P&C Insurance Snapshot tool, (..)
Review Your EstatePlanningDocuments Take some time to review the key documents in your estateplan, such as your will, power of attorney, and property deeds. For 2024, the maximum taxable earnings subject to Social Security tax is $168,600.
Moreover, even if durability is established, it's important to distinguish between an immediate POA, which is effective as soon as the document is signed, and a springing POA, which won't be effective until the grantor becomes incapacitated, and that incapacitation has been certified by a doctor as well! Unfortunately, nearly half of all U.S.
Moreover, even if durability is established, it's important to distinguish between an immediate POA, which is effective as soon as the document is signed, and a springing POA, which won't be effective until the grantor becomes incapacitated, and that incapacitation has been certified by a doctor as well! Unfortunately, nearly half of all U.S.
A common service model for many financial advisory firms is to schedule annual client meetings throughout the year where the advisor meets with each client in the month they started working with the firm, and conducts a comprehensive review of all planning topics for the client.
Optional estateplanningdocuments are generally not legally binding documents. . Their purpose has little or nothing to do with the transfer of assets and do not effect estate tax. Optional estatedocuments focus on values, lessons, and legacy issues. 1) Organ donor. 2) “What I want you to know.”.
And in the coming month, we’ll be rolling out our newest course on “How To Spot Planning Opportunities when Reviewing EstatePlanningDocuments” Because, the reality is, while we may learn about tax and estateplanning in our CFP classes, there’s remarkably little to show us as advisors how best to navigate the reams of tax (..)
From there, the latest highlights also feature a number of other interesting advisor technology announcements, including: All-in-one software platform Blueleaf has launched a new “aggregation-as-a-service” solution, promising better client data aggregation capabilities than existing solutions by automating the process of weaving multiple (..)
This month's edition kicks off with the news that VRGL (pronounced “Virgil”) has raised a $15M Series A round to scale up its tool that can scan investment account statements and automatically extract the available information about their holdings to analyze the prospect’s performance, risk, diversification, fees, and taxes, with (..)
And if they’re unprepared—or worse, if the family estateplanning strategies are less than buttoned up—how will that affect your practice down the line? To start the conversation with clients preparing to transfer wealth, you can simply say: “Tell me about who in the family was involved in the development of your estateplan.”
Fortunately, financial professionals have tools and wealth transfer strategies that can help couples be intentional about the use of their assets in an estateplan. Why Focus on EstatePlanning for Blended Families A thoughtful plan and good communication can go a long way in heading off conflict in large families.
advisorperspectives.com) Vanilla is rolling out more AI tools for estateplanning. investmentnews.com) Compliance How to conduct and document an annual compliance review. (riabiz.com) AI Is AI an existential threat to the business of financial advice?
In this episode, we take a high-level look at estateplanning. We cover wills, living wills, powers of attorney and the other most important documents should be put in place, the importance of trusts, the estate tax, intergenerational planning and a lot more.
The decisions you choose to make and those you ignore or overlook for your estateplan will have long-lasting and permanent ramifications. Don’t let the significance of estateplanning prevent you from getting started. When it comes to your estateplan, just jump in and get started. Of course not!
Information you’ll want to document includes: Bank accounts Investments Retirement accounts Estateplanningdocuments (wills, trusts, etc.) But note, in order for a power of attorney (POA) document to be valid, it must be signed by your parents while they are still mentally competent.
Estateplanning is a critical component of a successful financial strategy. Whether you’ve been putting off your estateplan for years or you’re considering an update due to changes in your family circumstances, it’s essential to keep your plan current. Take a moment to review the checklist.
The Imperative of EstatePlanning: Not Just for the Affluent Often, there’s a prevailing misconception that estateplanning is a luxury reserved for the wealthy elite. Real estateplanning is a crucial undertaking that every adult and family should prioritize.
We will cover qualification criteria, documentation requirements, and practical strategies to implement throughout the year. We will cover qualification criteria, documentation requirements, and practical strategies to implement throughout the year. Travel, meals, and supplies must directly relate to legitimate business activities.
Consider estateplanning strategies to minimize the impact of taxes on your estate. Our Bill Cass highlights several key actions including document reviews, naming beneficiaries and the use of 529 college savings plans to enhance tax efficiency.
Consider estateplanning strategies to minimize the impact of taxes on your estate. Our Bill Cass highlights several key actions including document reviews, naming beneficiaries and the use of 529 college savings plans to enhance tax efficiency.
? Do you have an estateplan? Was it prepared by an estateplanning professional? The post Why You Need a Professionally Prepared EstatePlan, Ep #165 appeared first on Financial Symmetry, Inc. Is it up to date? If you answered “no” to any of these questions, you need to listen to this episode.
From there, the latest highlights also feature a number of other interesting advisor technology announcements, including: Envestnet has announced that it is being acquired and taken private in a $4.5
Second opinion If a prospect doesn’t seem receptive at first because they believe they have everything taken care of as far as estateplanning or business succession planning, ask them if they would be willing for you to give them a second opinion for free.
This is the time to do comprehensive financial planning: retirement planning, investment planning, tax planning and estateplanning. Discuss more advanced estateplanning, charitable planning and special family issues.
While a financial plan focuses on managing your finances during your lifetime, an estateplan is essential for determining the fate of your assets after you pass away. Estateplanning involves the transfer of your assets to your heirs in the event of your passing.
Once the divorce is finalized, a crucial (but often overlooked) part of the process is updating estatedocuments and beneficiary designations. Here are some key considerations when financial planning for a divorce. You’ll also want to consider engaging a financial advisor, tax advisor, and estateplanning attorney too.
Disaster Preparedness Financial Documents. On the topic of finances, don’t forget your important documents. Even if you’ve digitized all of your important documents, you still might need physical copies as a backup. Here are some documents to have ready to go if you need to evacuate or run to a storm shelter.
Our team is so focused on the financial planning side of the equation for everyone that they just eat up all this planning. ’ So they read it and they document it, they model it into the financial planning software, how it’s going to work when shares are coming in over time. Do you have an estateplan?
Frontloading 529 Contributions Contributions to 529 plans can also be frontloaded or “superfunded”, allowing you to make up to five years’ worth of contributions in a single year without incurring gift taxes. Review Your EstatePlanning The end of the year can also be a practical time to take stock of your long-term estateplanning.
Also, your employer may offer an opportunity to contribute to a Healthcare FSA, Dependent Care FSA and HSA, these plans allow you to make pre-tax contributions and use the money for eligible expenses tax-free. Get your estateplan in order. Name a guardian for your child in the event something unexpected happens to you.
Financial advisors can also help the elderly understand the best practices in terms of sharing personal or financial information, maintaining privacy, and keeping their financial and legal documents safe. Help the elderly with estateplanningEstateplanning is an integral component of financial advice for seniors.
Incomplete tax documentation: Waiting for essential tax documents, such as W-2s, 1099s, or other forms, is a common reason to file for a tax extension. As well as being complicated to complete, K-1 forms are often issued later than other tax documents, frequently compelling filers to seek tax extensions.
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