One of the most common questions we receive from high net worth clients is how to protect and effectively transfer assets. While there are many different ways to accomplish these objectives, one specific strategy has recently garnered some interest for married couples.
In March the Internal Revenue Service announced that the 2020 tax year due date for individual’s federal income tax filing would be extended from April 15, 2021, to May 17, 2021. With the extension, you have an opportunity to avoid a few headaches resulting from a very difficult year and still have a few tax planning opportunities to reduce your 2020 taxes.
Last month, the financial planning department did a presentation to clients on financial planning basics. If you missed the presentation, or are interested in any of the material that we discussed, please feel free to reach out to anyone in the planning department.