Category: Centura Wealth Advisory
44. How To Optimize Retirement Plan Distributions (In Light of Proposed Tax Changes) — Part Two

44. How To Optimize Retirement Plan Distributions (In Light of Proposed Tax Changes) — Part Two

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The Build Back Better Act has recently been passed by the U.S. House of Representatives.

While it is yet to become a law, there are steps you can take today to minimize the legislative proposal’s impact on your wealth transfer, in case it is passed.

In this episode, Derek Myron and Kyle Malmstrom dive into the potential tax implications of the proposal for retirement plan owners. They also share how they are helping clients at Centura Wealth Advisory to prepare for these expected tax changes.

Derek and Kyle discuss:

  • Why they believe the new proposal to be an “assault on the U.S. retirement plans”
  • People who might be severely affected by this potential tax law change
  • How existing wealth transfer strategies might become obsolete under the new proposal
  • Best practices to minimize your estate taxes
  • And more

Resources:

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43. Articulate Your Vision With Lois Weinblatt

43. Articulate Your Vision With Lois Weinblatt

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Entrepreneurs, are you struggling to articulate your vision in a way that resonates with every member of your company?

In this episode, Jonathan Freeman speaks with Lois Weinblatt, international vision coach, facilitator, and speaker at True North Visionaries. They break down the visioning process and help you find clarity, so that you can make better decisions, enroll your team to see where you are headed, and improve engagement across the organization. 

Lois discusses:

  • How to articulate your vision on an organizational level
  • The importance of vision in employee recruitment and client communications
  • Tips to keep your team aligned with your vision, especially in the virtual environment
  • Potential challenges during the visioning process — and how to overcome them
  • And more

Resources:

Connect With Lois Weinblatt:

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About Our Guest:

Lois Weinblatt is an international vision coach, facilitator, and speaker at True North Visionaries. Lois founded True North Visionaries in 2013 to help visionary leaders and organizations around the world gain clarity and achieve success. Before starting True North Visionaries, Lois held many sales and business development roles spanning over six years.

 
42. How To Optimize Retirement Plan Distributions (In Light of Proposed Tax Changes)

42. How To Optimize Retirement Plan Distributions (In Light of Proposed Tax Changes)

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Over the years, you may have accumulated a large sum of wealth in your retirement accounts.

But withdrawing that money tax-efficiently can feel like a challenge, especially under proposed tax changes currently being discussed.

In this episode, Derek Myron and Kyle Malmstrom discuss how the expected estate tax changes may potentially affect your retirement plan distributions, and share effective strategies to help you transfer your accumulated wealth to your desired beneficiaries in a tax-efficient manner.

Derek and Kyle discusses:

  • A brief overview of the proposed Build Back Better Act
  • Different ways to take your money out of Individual Retirement Accounts (IRAs)
  • “Live-on” assets versus “leave-on” assets — what is better for you
  • Reasons to start planning your wealth transfer as early as possible
  • And more

Resources:

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41. How To Become a Master Business Leader With Mitch Simon

41. How To Become a Master Business Leader With Mitch Simon

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Whether you want to recruit the best talent, motivate your current team, or boost business performance, success boils down to one key element –– leadership.

In this episode, Jonathan Freeman speaks with Mitch Simon, the founder of Simon Leadership Alliance, and a master business and leadership coach. Jonathan and Mitch reveal their strategies to enhance your leadership skills, build a high-performing team, and accelerate your business growth.

Mitch discusses:

  • How to maintain a strong company culture in a virtual environment
  • Ways to encourage a collaborative team spirit within your organization
  • Why the workplace is the new frontier for personal development
  • The underrated benefits of hiring a professional leadership coach
  • And more

Resources:

Connect With Mitch Simon:

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About Our Guest:

Through his team building retreats, results-focused workshops, executive coaching, and top ranked leadership program, Mitch Simon inspires executives, entrepreneurs and leaders around the globe to lead through their care. He proves that by focusing on both authenticity and full self-expression, even the newest leader can bypass the overwhelm and self doubt, and instead lead with a momentum that drives purposeful work and builds high-performing teams. Mitch has a J.D. MBA and has been an executive coach in San Diego for over 17 years.

 
40. How To Minimize Estate Taxes Using ILITs With Kristina Hess

40. How To Minimize Estate Taxes Using ILITs With Kristina Hess

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Estate tax exemptions are expected to decrease in the near future.

However, ILITs (irrevocable life insurance trusts) can help you reduce your estate taxes so that you can maximize your wealth transfer to future generations.

In this episode, Kyle Malmstrom speaks with Kristina Hess, estate planning attorney at KR Hess Law, PC. Join Kyle and Kristina as they explain what ILITs are, how to set them up, the tax benefits, and why they are becoming increasingly relevant among high-net-worth individuals.

Kristina discusses:

  • How ILITs reduce your net taxable estate
  • How to move both existing and new life insurance policies into an ILIT
  • The potential elimination of grantor trusts and its impact on estate planning, if it’s passed
  • The ideal candidate for setting up an ILIT
  • And more

Connect With Kristina Hess:

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About Our Guest:

Kristina Hess is a Certified Specialist in Estate Planning, Trust and Probate Law by The State Bar of California. At her core, Kristina is a strategic, yet creative thinker who comprehends the legal issues facing you as they relate to your individual life situation. Combine that with her analytical skills, and Kristina will efficiently equip you with the legal instruments to protect your hard earned wealth and, were something ever to happen, ensure that all you have earned throughout your life, stays within your family structure. Prior to establishing her own firm in 2009, Kristina has a proven track record with over 20 years of legal experience, highlighted with San Francisco’s prestigious law firms such as Shearman & Sterling and Pillsbury Winthrop.

 
39. Get To Know Our New Senior Wealth Advisor Roby Kotcamp

39. Get To Know Our New Senior Wealth Advisor Roby Kotcamp

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We love to build deep connections with our clients! So, this episode is dedicated to helping you get to know our team a little better.

In this episode, Jonathan Freeman, Chief Operating Officer, introduces you to Centura Wealth Advisory’s new Senior Wealth Advisor Roby Kotcamp, CFP®, PMP®. Roby shares his professional and personal background, his core vision and beliefs, and how he plans to add value to our clients’ wealth management.

Roby discusses:

  • The different industries he has worked in prior to becoming a wealth advisor
  • How he specializes in helping high net worth individuals manage their wealth
  • Why Centura’s team approach offers more holistic planning compared to individual advisors
  • His philanthropic interests
  • And more

Connect With Roby Kotcamp:

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About Our Guest:

Roby Kotcamp, CFP®, PMP®, joined Centura Wealth Advisory in September 2021 as Senior Wealth Advisor. Roby has a diverse background in financial leadership and general management roles, spanning environmental services, aerospace, and financial consulting in several global locations. For the past dozen years, he has focused on helping accomplished individuals and families reach their financial objectives, including guiding entrepreneurs through purchase, growth, and liquidity events. Roby enjoys drawing on his diverse domain and global leadership experiences to assist clients in complex circumstances to build a wealth plan that enables them to visualize and achieve their highest priorities.

 
38. AB-150: What Is It and How Does It Impact Your Taxes? With Ken Van Damme

38. AB-150: What Is It and How Does It Impact Your Taxes? With Ken Van Damme

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On July 16th, 2021, California governor Gavin Newsom passed Assembly Bill 150. One of the key components of this bill is the Small Business Relief Act, which has the potential to reduce your taxable income.

In this episode, Kyle Malmstrom speaks with Ken Van Damme, tax partner at Ernst and Young, about what the AB-150 entails. They discuss creative strategies to leverage this new law to optimize your individual taxes, while highlighting the various risks involved.

Ken discusses:

  • The eligibility criteria to qualify for AB-150’s tax provisions
  • How you can start preparing for the new tax law until the federal guidelines are released
  • Tips to avoid overpaying in non-refundable taxes
  • The impact of AB-150 on multi-state entities
  • And more

Connect With Kenneth Van Damme:

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About Our Guest:

Kenneth Van Damme is a California CPA with more than 28 years of tax advisory experience. He is a partner in the San Diego office of Ernst and Young as part of the firm’s Private Client Services group. Prior to rejoining EY in 2018, Ken had co-founded and built a very successful CPA firm in San Diego for 17 years known as RPR Partners. Ken has extensive tax consulting experience with structuring real estate and company transactions as well as income tax and estate tax planning for individuals. He is a member of the American Institute of Certified Public Accountants and has a Bachelor’s degree from Western Michigan University and Masters degree from San Diego State University.
37. The Financial Planning Guide for High-Net-Worth Families

37. The Financial Planning Guide for High-Net-Worth Families

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Most high-net-worth families work with various professionals, such as CPAs, estate planning attorneys, and valuation experts.

How can you bring them all together and create a holistic financial plan?

Derek Myron and Kyle Malmstrom answer the question in this episode. Join them as they explain strategies to create a forward-looking financial plan, minimize income and estate taxes, and optimize your wealth transfer for future generations. They also walk you through Centura Wealth Advisory’s comprehensive wealth management process that liberates you from financial burdens.

Derek and Kyle discuss:

  • Ways to know if a particular financial services professional is ideal for you
  • How to avoid a silo approach to your finances and focus on long-term planning
  • Tips for building a customized financial strategy based on your unique goals
  • Best practices to help you prepare for the potential tax changes
  • And more

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36. Leveraging Real Estate as Part of Charitable Planning With Wendy Beerbower

36. Leveraging Real Estate as Part of Charitable Planning With Wendy Beerbower

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Have you ever thought about donating real estate?

Not only can it minimize your capital gains taxes, but also help you amplify the impact of your charitable contributions in the community.

In this episode, Dana Levin, client Relationship Manager at Centura’s Philanthropic Strategies, speaks with Wendy Beerbower, Senior Vice President at Eisenhower Health Foundation. They explore a variety of simple and tax-efficient ways to donate real estate (or other highly appreciated assets) to the charities you care about deeply.

Wendy discusses:

  • Why current market conditions and existing tax laws are optimal to donate real estate
  • How to use charitable remainder trusts (CRUTs) to donate real estate without losing your continuous income stream
  • Ways to leverage retained life estates for a tax deduction for a future gift
  • Tips for nonprofit leaders to attract more real estate donors
  • And more

Connect With Wendy Beerbower:

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About Our Guest:

Wendy Beerbower is the Senior Vice President –– planned and major gifts at Eisenhower Health Foundation, where she has been making an impact for the past four and a half years. Wendy has an interesting background holding a real estate license since 2007, and having worked in real estate at Coldwell Banker and in the FinTech and financing space with EquityKey, in both real estate and nonprofit. She is experienced in all facets of business development process management, including strategic planning, effective people management, and innovative marketing solutions.
35. Structured Notes Simplified With Robert Sowinski

35. Structured Notes Simplified With Robert Sowinski

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The interest rates for fixed income investments have reached historic lows. However, structured notes, which are somewhat unknown to many investors, can help you maintain returns through this environment.

In this episode, Kyle Malmstrom speaks with Robert Sowinski, managing director, structured products at Advisors Asset Management. Robert simplifies the complexities of structured notes and discusses how you can use them to boost your returns –– while accounting for the various investment risks involved.

Robert discusses:

  • An easy-to-follow explanation of how structured products operate
  • How you can cap your downside risk while maintaining a decent upside potential
  • The different timeframes and liquidity options available in structured notes
  • Why structured notes are becoming increasingly popular among retail investors
  • And more

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