Laura Letts’ Post

Join us to explore the critical role of wills, the benefits of trusts, and the importance of estate planning for building generational wealth. Click the link to learn more. #EstatePlanning #Trusts #WealthManagement #FinancialPlanning #GenerationalWealth

Managing Partner Michelle Schulz's remarks are included in this two-part “Practice Innovations” blog series by Thomson Reuters that looks at the role law firms play in preparing their more senior partners for retirement and for a firm’s succession planning. Do you have a plan in place? ➡ 𝐑𝐞𝐚𝐝 𝐚𝐫𝐭𝐢𝐜𝐥𝐞 𝐧𝐨𝐰: https://lnkd.in/ee_D3RWQ Don't miss out on the second part of the series, where more insights and strategies will be unveiled. #SchulzTradeLaw #LawFirmLeadership #SuccessionPlanning #LegalInnovation #ThomsonReuters #PracticeInnovations

Let's stop taking shortcuts when dividing retirement assets—and start using smart strategies!   That was the discussion when I met with the Matrimonial Law Committee of the Westchester Women’s Bar Association yesterday. We dove into the complexities of dividing retirement assets and tackled the common (and costly) errors head-on.   Thanks to everyone who joined in. It's fulfilling to meet with attorneys who truly want equitable outcomes for their clients. #WWBA

Lawyers have a professional obligation to clients to plan for interruptions in their practice, whether due to unexpected emergencies or a planned retirement. Small firms and sole practitioners are particularly vulnerable to gaps in coverage. A succession plan is the best way to protect your commitment to your clients, safeguard your practice and ensure your intentions for your business are met. Watch our new video to learn more about succession planning, the role of the Law Society’s custodian and how to protect your practice here: https://ow.ly/q6EI50SFGCl

In this episode of “ERISA Moments,” Fred Reish and Bradford Campbell unpack the final fiduciary regulation and exemptions.

What is collaboration between a Private Client lawyer and Chartered Financial Planner? What and how does it look? How does it benefit the client apart from the obvious? Does it offer an accessible ‘family office' model for medium to high net worth individuals? In this article, myself and Michael Romain, solicitor at Bishop and Sewell, explain the key benefits and opportunities of working together to deliver something akin to a ‘family office.’ Please take read! Nucleus Financial Fairstone Group Ltd Bishop & Sewell LLP (Monro Wright and Wasbrough) Michael Romain #Collaboration #FinancialPlanning #LegalAdvice #FamilyOffice #WealthManagement #EstatePlanning #HighNetWorth

However, as Jorey Bernstein Bernstein, Executive Director, Wealth Manager, and Founder, Jorey Bernstein Private Wealth Management says, at some point you may want to stop, “For affluent clients, retirement accounts can provide significant tax advantages, but there are limits to consider. Generally, we recommend maxing out available contributions each year to take full advantage of tax-deferred growth. However, there can be a point where lack of access and estate planning concerns outweigh the incremental tax benefit. “Once total retirement assets approach $10-15 million for a married couple, the additional tax deferral may not justify tying up more funds with retirement account restrictions and RMDs. At that level of wealth, having too much in tax-deferred accounts can create over-concentration risk, liquidity issues when needing funds before age 59.5, and potentially higher taxes in retirement due to RMDs. “The ideal balance allows using the annual contribution limits while maintaining diversification across taxable, tax-deferred, and tax-free investments based on the client’s overall net worth, age, income needs, and legacy goals.” Wealthtender Opher Ganel Brian Thorp

It’s always enjoyable being out on the road with the Murray International team, Bruce Stout, Samantha Fitzpatrick and Marty Connaghan We had a packed schedule in Belfast and Dublin as part of Bruce’s Fairwell Tour before his well earned retirement. The team covered a range of topics from shareholders as well as discussing the outlook for global income investing and why this should be a consideration for investors. Capital at risk. For more information visit www.murray-intl.co.uk #income #global #equityincome #investing #abrdn #investmenttrusts

It’s never too early to start planning for the future. Whether you’re building wealth, starting a family, or nearing retirement, estate planning is an essential step in protecting your assets and ensuring your legacy. At Sage Legacy Law LLP, we help individuals and families of all stages create comprehensive trust-based estate plans that offer peace of mind. 🌿 #EstatePlanning #StartEarly #TrustPlanning #FamilySecurity

Stretto Regional Director Nancy Simons and Attorney David M. Goodrich discuss that for the abandoned plan program to reach its full potential, further refinements are needed. Clearer guidance on locating plan information and, critically, adjustments to trustee compensation are vital for sustainable administration in Law360. Read the entire article - https://lnkd.in/gi3YdHiS