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Navigating Family Wealth: Unlocking Potential Through Legacy and Generosity

2 weeks ago By Wendy Rogers

My grandfather started a feed and seed business in 1935 in rural South Georgia, out of a desire to help save or protect the crops of his friends and neighbors. Over the course of the next 70 years, the family business grew into one of the largest off patent crop protection chemical companies in the world. When our family made the decision to sell the family business to a Fortune 50 company, we found ourselves in the business of strategic wealth management and generational wealth transfer. We began to focus on preservation and growth of not only financial assets but…

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Advisor

Keys to Introducing Legacy Planning

1 month ago By Alan Pratt

As an advisor, what do you wish for your clients? Do you want them to be focused on the distribution of their assets when they die? Or would you rather see them live joyful, rich lives now? If you want to dig into that latter concept, you are in the right place! Conversations with clients can be so much more fulfilling—for them and for you—when you develop a legacy plan that includes them and their descendants. By helping your clients plan for their legacy, not merely for their estate, you can invite them into what will hopefully grow into an…

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Advisor

Innovate with Real Estate Gifts

3 months ago By Evan Lange

Real estate is one of the best charitable gifts an individual can make, and you can use these two main strategies to educate your clients on the opportunity. For a concise summary to share with clients, see our real estate fact sheet here with the details of these strategies, but below are the basics of how to make real estate gifts a reality for your clients. Strategy #1 – Gift Before a Sale Gifting all or a portion of a piece of property before the sale occurs. Key Points: The gift, meaning actual transfer of ownership, needs to occur before…

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Advisor

When Giving Hurts

5 months ago By Evan Lange

You may have heard of the bestselling book When Helping Hurts, which provides a framework for poverty alleviation by walking with the materially poor in humble relationships instead of just giving temporary handouts on money. The same can apply to generosity. It often starts materially or monetarily, but in its highest form, it often looks like sacrificial living. When I left the law firm to join The Signatry about 5 years ago, a colleague of mine told me to read this book and see that giving materially is not necessarily the best way of generosity. I agree with that statement…

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Advisor

3 Common Questions on Business Interest Gifts

6 months ago By Evan Lange

Whenever I speak or write about business sales and giving business interest gifts, I always emphasize the importance of giving BEFORE the sale of the business. Every year, I will receive a call from an advisor, attorney, or accountant saying, “My client is selling a business next week (or some other shorter time period). Can we still do a gift before the sale?” It happens often! In an attempt to answer this question, here are three quick pointers you should know: 1. Why is it important to gift business interest before a sale? By giving business interest to a donor…

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Advisor

Three Ways 2020 Could Impact Estate Planning

7 months ago By Ben Bell

Now is the time to review estate plans for 2020. The beginning of the year is a time when many people have a resolution to evaluate, reevaluate, or plan their estate for the first time. With the turn of the calendar below are a few items of note which can affect planning an estate in 2020. Here are three things to consider as you engage with clients in this important conversation. 1. SECURE Act Effective January 1, 2020, the SECURE Act changes the age of required minimum distributions (RMDs) to age 72 and, in effect, eliminates the “Stretch-IRA” strategy for…

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Advisor

Starting 2020 with 20/20 Vision

9 months ago By Evan Lange

Over 60% of Americans will make New Year resolutions for 2020. Some of the most popular resolutions for 2020 are losing weight, reading more, spending more time with family, and flying less to help prevent emissions into the environment. While I typically do not have a “resolution” for the New Year, I will build a plan and goals for the next 12 months. What are the goals for financial advisors, lawyers, and accountants for 2020? A quick web search will provide hundreds of tips to improve and grow your practice. These tips include: investing and utilizing new technology, exploring new…

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Advisor

Generosity in the Story of Christmas

10 months ago By Evan Lange

Christmas is my favorite time of year. I love the joy and cheer, sweet treats, and the wonder in my children’s eyes when they come down the stairs on Christmas morning. But the thing I love most is the Christmas story! In Chip Ingram’s book, Genius of Generosity, he gives a beautiful picture of how true generosity is demonstrated in the Christmas story. To better explain this, let’s look at the six types of gifts given in the Christmas story. Gift of Treasure – The Wise Men As the leading astrologers of their time, the Magi studied the stars and…

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Advisor

Year-end checklist for Advisors

11 months ago By Evan Lange

The leaves and the weather are changing, so that means it is time to start year-end planning sessions with your clients. Take some extra time this fall to consider some of these simple year-end charitable and tax-planning strategies: Bunch a bunch Because of the 2017 tax law changes, several clients may not have enough itemized deductions to surpass the 2019 standard deduction threshold ($12,200 for individuals and $24,400 for married couples filing jointly). However, clients can maximize their deductions by doubling or tripling up charitable contributions one year and skipping the next year(s). This strategy is referred to as “bunching”…

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