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Retirement Planning

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Top 3 Year-End Planning Tips for Lawyers

As I’ve spoken with many lawyers throughout 2020, I’ve been impressed by how resilient most law firms have been.  Most lawyers have seen their firms hold steady, and some have even seen growth in 2020.  I consider that an amazing testament to the long-established truth that nothing of any importance gets done without the input […]

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Watching the Sunset – Current Estate Tax Laws vs New Proposals

With the presidential election behind us and Joe Biden entering the Oval Office in January, questions and uncertainties still exist regarding his proposed tax package. With the “Blue Wave” of Democratic control over the White House, Senate, and House of Representatives seemingly less likely, major tax reform that was a pillar of Biden’s presidential platform […]

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Post Election 2020 – Where Do Taxes Go From Here?

On November 17th, we hosted a virtual conversation with BDF’s income and estate tax planning experts during which we shared our insights on what the results of the election mean for estate and income tax changes in the future as well as what you need to consider before year-end given the potentially changing landscape. We […]

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Working Wealthy – Time Passing, Fast and Slow

I’m guessing Daniel Kahneman will never read this blog, so he won’t be offended by my riff on his Thinking, Slow and Fast book title. Pardon the term, but in these days of COVID-19, time seems to have taken on a very different meaning and reality. And, being a relatively new parent, I’m acutely aware […]

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Retirement Benefits for Lawyers

I have the privilege of working with many law firm partners as clients.  In my experience, law firms often have some of the best benefits for their partners and associates.  I have also found that many times lawyers don’t take the time to fully comprehend all of their firm-provided benefits and how those benefits impact […]

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Estate Tax Exemption – Use it Now!

Federal tax law levies a tax on the value of assets you own at death.  The estate tax is levied at a 40% rate and can severely impact the transfer of wealth to future generations.  Many business owners are simply unaware that the value of their business exposes them to the tax and that may […]

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How Did Financial Professionals Navigate the Pandemic?

The effect of the coronavirus has been widely felt and will continue to make an impact on the future of the world for years to come. Financial professionals (private equity professionals, investment bankers, and asset managers) felt the impact both personally and professionally throughout the first half of 2020. Many financial professionals were adjusting to […]

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Exiting Your Business? 3 Critical Considerations

Selling a business is the culmination of years of hard work and dedication to a way of life.  The seller has one opportunity to get the sale “right” to maximize retirement wealth and preserve that which will be transferred to future generations.  Of course, there are many detailed considerations, but the early focus should be […]

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3 Important Updates to the 2020 Required Minimum Distribution Waiver

On June 23rd, the IRS issued additional guidance regarding 2020 required minimum distributions (RMDs).  As you may remember, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) waived many required minimum distributions for 2020.  However, there were still a few taxpayers that may not have been afforded relief under the CARES Act – that […]

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Working Wealthy – 2020 is the new 2009

Perfect is the enemy of good. I’m not certain who said it first. I understand it relates back to an Italian proverb, and it appears Voltaire was the first to pen a paraphrasing of it. In any event, let’s not get bogged down with precision on the source of the learning. Let’s focus on how, […]

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Your Financial Plan and Lessons From a Historic First Six Months of 2020

Despite market volatility, staying disciplined kept your plan on track in 2020.

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The Balance Sheet – The Map for Financial Professionals

Professional investors need to have a good grasp on the balance sheet of a business they are investing in. Having a deep understanding can inform strategy and help make the best decisions. The same goes for your personal wealth. Without a full view of your assets and liabilities, you are flying blind. Previously, we have […]

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