Wealth Management Center

Preserving and enhancing wealth for the future with financial-planning experts Bill Cass and Chris Hennessey


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Heirs still waiting for clarity on 10-year rule

June 7, 2023  |  Estate and Wealth Transfer

Although the Treasury Department issued proposed regulations for the new 10-year rule in February 2022, heirs are still waiting for final clarification.

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Heirs still waiting for clarity on 10-year rule
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ADVISOR-ONLY WEBINAR SERIES

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March 15, 2023

Ideas to engage clients during tax season

Bill Cass, CFP®, CPWA®, Director Wealth Management Programs at Putnam
Chris Hennessey, Lawyer and CPA, Putnam Business Advisory Group

Heirs still waiting for clarity on 10-year rule

Heirs still waiting for clarity on 10-year rule

Although the Treasury Department issued proposed regulations for the new 10-year rule in February 2022, heirs are still waiting for final clarification.

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College grads: Consider financial actions for your next steps

College grads: Consider financial actions for your next steps

Building a solid financial strategy may be the most important first step to help college grads achieve their dreams.

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Keys to saving taxes with a domicile change

Keys to saving taxes with a domicile change

Considerations when relocating and establishing a new domicile to try to save on taxes.

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Decision made: Why 529 plans are a popular choice for college

Decision made: Why 529 plans are a popular choice for college

A growing number of families are using 529 plans to save for college.

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Birthdays may signal time to take financial action

Birthdays may signal time to take financial action

In addition to birthdays and life changes, such as retirement, age milestones are meaningful for financial planning.

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As FAFSA rules change, more grandparents may save in 529 plans

As FAFSA rules change, more grandparents may save in 529 plans

More grandparents may consider funding a 529 plan for their grandchildren as financial aid rules change.

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Couples have unique option to plan for risk of future higher estate taxes

Couples have unique option to plan for risk of future higher estate taxes

The expiring tax law provides a planning dilemma and opportunity for high-net-worth households concerned about the future of federal estate taxes.

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Tax planning is a focus for all seasons

Tax planning is a focus for all seasons

Staying focused on tax planning can help individuals find ways to improve their tax situation throughout the year.

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Examining ways to fix Social Security

Examining ways to fix Social Security

The latest projections about Social Security indicate the trust fund will be able to pay timely benefits until 2034 when the fund will be depleted.

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There is still time to try to save on taxes before the filing deadline

There is still time to try to save on taxes before the filing deadline

With the April 18, 2023 tax-filing deadline approaching, it’s not too late to consider some strategies that could reduce taxable ...

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Planning considerations for a divorce

Planning considerations for a divorce

Divorce can be overwhelming on an emotional level as well as when dealing with planning issues such as taxes, property division, and custodial arrangements.

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Leading tax questions on the minds of advisors from our webinar

Leading tax questions on the minds of advisors from our webinar

Here are some of the top tax questions asked by advisors on our recent webinar.

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Soaring federal debt signals future tax increases

Soaring federal debt signals future tax increases

Given the current state of federal debt and solvency issues with entitlement programs, it is likely that revenue needs will lead to higher taxes.

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Tax credits open door to new retirement plans

Tax credits open door to new retirement plans

SECURE 2.0 provides tax credits for smaller businesses to establish workplace retirement plans.

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Three ways to offset income from a Roth conversion

Three ways to offset income from a Roth conversion

There may be planning opportunities to mitigate the taxes associated with a Roth conversion.

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Taxpayers face challenges as tax provisions sunset in 2025

Taxpayers face challenges as tax provisions sunset in 2025

Unless Congress acts, current tax rates and most tax provisions in the tax code will sunset in 2025.

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How the expiring TCJA may impact taxes in the future

How the expiring TCJA may impact taxes in the future

Most provisions of the TCJA will expire in 2025 but taxpayers still have time to plan ahead for potential higher taxes.

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Top advisor questions from our SECURE 2.0 webinar

Top advisor questions from our SECURE 2.0 webinar

Tax credits for start-up retirement plans, Roth strategies and easing rules around RMDs were among the top advisor questions about SECURE 2.0.

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Time to prepare for tax season

Time to prepare for tax season

Prepare in advance for tax season to make the most of your tax filing.

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Ten income and estate tax planning ideas for 2023

Ten income and estate tax planning ideas for 2023

Looking at the year ahead, individuals may want to explore opportunities to save more, reduce taxes, or revise their tax planning strategies.

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SECURE 2.0 creates new backdoor Roth opportunity

SECURE 2.0 creates new backdoor Roth opportunity

Beginning in 2024, the SECURE Act allows unused funds from a college savings plan to be transferred to a Roth IRA in a form of backdoor Roth strategy.

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SECURE 2.0 key provisions to impact planning

SECURE 2.0 key provisions to impact planning

The SECURE 2.0 Act seeks to enhance retirement savings and will likely impact a variety of retirement planning and tax strategies.

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Tax season planning under the TCJA

A new perspective on tax deductions

Optimize the small-business tax deduction

Estate planning considerations before the law sunsets

New strategies emerge for Roth conversions

Tax rates lowered, deductions limited in tax law

The tax reform law lowers tax rates and imposes new limits on many deductions.

Many deductions changed in new tax law

The standard deduction doubles while some popular tax deductions are limited or eliminated by tax reform.

Estate planning remains vital

Despite higher exclusion levels for federal estate taxes, estate planning remains vital for taxpayers.

Tax reform creates new deduction for small businesses

Understanding the new 20% deduction for business income is key for small business owners.

New tax law influences individual planning

Individuals may consider various strategies for charitable giving and financial planning in the new tax environment.

$30T in wealth transfer creates opportunity

Advisors may consider expanding their value proposition and professional network to grow their business.

Top strategies for advisors when heirs inherit wealth

Learning about an investor's family can help advisors connect with the next generation.

Social strategies for meeting the next generation

Start with social media and expand to social events to reach out to the next generation of clients.

Use family meetings for more effective wealth transfer

Hosting a family meeting can help investors and their children focus on values, planning issues, and philanthropy.

College savings plans offer tax advantages

Explore tax-advantaged savings when planning for college.

Chris Hennessey is Professor Emeritus of Law at the Babson College School of Executive Education and member of the Putnam Investments Business Advisory Group. His opinions do not necessarily reflect those of Putnam Investments.