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A meaningful wealth planning strategy embodies your vision, hopes, and personality, all to ensure you are financially well situated over your lifetime. By developing a solid blueprint, you can provide yourself and your loved ones with a secure future. First, begin with making sure your foundation is strong, then ask yourself what you are tryin...

For the charitably inclined individuals and families who are exploring ways to reduce their tax expose and maximize their charitable impact in 2022, there are eight tax-smart tips for charitable giving in 2022.

As families grow their investment function, the Chief Investment Officer (CIO) must provide insight and flexibility to serve varied and changing investment platforms. While much of the CIO’s role is focused on investments and the investment decision-making process, many CIO responsibilities aren’t investment-centric and will impact the long-term su...

As the owner of a closely held business, proper planning will ensure that, if something happens to you, your business interest is transferred according to wishes. Having a buy-sell agreement in place is only half the battle. Funding your agreement ensures that there is money available to purchase a departing owner’s business interest in the e...

A Net Income with Makeup Charitable Remainder Unitrust (NIMCRUT) is a unique wealth planning strategy and is an effective means to maximize after-tax returns, as well as benefiting charities in certain circumstances common to high net-worth families and individuals. This article outlines some ideal circumstances and illustrates the significant diff...

Without proper planning, digital assets could be lost. For executors, a challenge is often just determining whether digital assets are in the decedent's estate, and then determining the powers and terms for accessing and administering them on the beneficiaries' behalf. An inventory checklist of the broad-based digital footprint is provided ...

Each new year brings with it new tax-savings opportunities. This year, a list of strategies and tips to consider in your tax planning are provided, including charts showing the federal estate and gift tax exemptions and exclusions for 2022.

In this Tax Outlook Survey, 150 tax executives were polled on questions ranging from their tax planning strategies to their views on environmental, social, and governance (ESG) initiatives. The findings indicate that the recently enacted and proposed tax policy changes continue to pose challenges to tax executives and their teams as they strive to ...

Compound growth over time—uneroded by taxes—is key to amassing substantial wealth, and that’s where dynasty trusts come in. It’s designed to minimize taxes over multiple generations. When done correctly, dynasty trusts can leave an enduring and significant financial legacy for generations to come.

Too often, taxes are only thought of once or twice a year, but the reality is that an effective tax plan is considered year-round and on a multi-year basis. Tim Steffen, Baird’s Director of Tax Planning, shares his insights on common tax planning misconceptions, when and why to consider tax planning, and how to respond to legislative changes ...

A Charitable Lead Annuity Trust (CLAT) is an effective means to reduce current income taxes, transfer wealth to a family free of gift and estate tax, and benefit charity. Here is an illustration of a specific tax planning technique that might be valuable.

Under Section 663(b) of the Internal Revenue Code, any distribution by an estate or trust within the first 65 days of the tax year can be treated as having been made on the last day of the preceding tax year. Using this rule to treat any distribution by an estate or trust can provide a possible opportunity for tax savings.

Also known as a family trust company, a private trust company (PTC) is an entity that allows families to unbundle fiduciary services in furtherance of family and financial goals. In this overview and primer, learn more about the elements of the PTC structure, board roles and responsibilities, and when it makes sense to form a PTC.

Good intentions do not make for philanthropic success on their own. Blind spots cost philanthropists—and the causes they espouse—dearly. To make the most of their philanthropic dollars, donors practice due diligence. But when concepts of diversity and inclusion are added to basic due diligence, the result can create a philanthropy that is both resp...

Many young adults are looking to increase their knowledge when it comes to managing their inherited wealth. After all, wealth can be a complicated topic—and figuring out what to do with it can be an overwhelming experience. With that in mind, this guide is designed to answer their questions and concerns on the issues related to money, includin...