Category: Finance
How to Lower Your Capital Gains Taxes with Adam Buchwalter (Ep. 94)

How to Lower Your Capital Gains Taxes with Adam Buchwalter (Ep. 94)

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Some states (like California, New Jersey, and New York) charge significant capital gains taxes. 

However, there are 8 states that have zero capital gains tax!

This disparity creates some tax planning opportunities for people living in highly taxed states.

Tune in to Derek Myron’s conversation with Adam Buchwalter, Partner at Wilson Elser, about effective tax-saving strategies for high-net-worth individuals, founder-led business owners, and C-level executives who want to reduce their capital gains taxes from a large liquidity event.

Adam and Derek discuss:

  • The benefits of setting up a non-grantor trust in a state with lower tax rates
  • ING Strategies and their tax implications
  • Why the same strategy may not work in New York or California (and what to do instead)
  • Tax advantages of QTIP Trusts
  • And more

Resources:

Connect with Adam Buchwalter:

Connect with Derek Myron:

Connect with Centura Wealth Advisory:

About Our Guest:

Adam Buchwalter is engaged in the practice of estate and tax planning, including developing strategies for limiting estate and income taxes, providing for a disabled child, selecting fiduciaries to manage one’s affairs, and setting up ancillary documents including powers of attorney and advance directives for health care. Adam’s practice also deals with all aspects of estate administration, from probate and gathering assets to preparing estate tax returns and distributing assets to the estate’s beneficiaries.
Our Proprietary Liberated Wealth® Process for Ultra-High-Net-Worth Clients (Ep. 93)

Our Proprietary Liberated Wealth® Process for Ultra-High-Net-Worth Clients (Ep. 93)

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Are you ready to dive into the world of proactive and comprehensive wealth management designed to help ultra-high-net-worth individuals achieve exponential results?

In this episode, Sean Clark speaks with Derek Myron, founder, CEO, and managing director of Centura Wealth Advisory (Centura), about the innovative Liberated Wealth® process. Discover the five-step journey Centura’s clients embark on, from uncovering their goals to designing personalized strategies, implementing solutions, and ongoing stewardship to ensure continued success.

Sean and Derek discuss:

  • Sophisticated planning for founder-led business owners and C-level executives
  • Differentiating “above-the-line” planning for exponential results
  • The importance of ongoing stewardship and annual review processes
  • How Centura delivers a white glove treatment at every step
  • Centura’s collaborative approach and referral system for advisors and other professionals
  • And more

Resources:

Connect with Sean Clark:

Connect with Derek Myron:

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How Can High-Income Business Owners Supercharge Their Retirement Savings? (Ep. 92)

How Can High-Income Business Owners Supercharge Their Retirement Savings? (Ep. 92)

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Business owners with a lot of surplus cash flow often want to put it away in a qualified plan and defer taxes. The problem is that they might feel restricted by the contribution limits.

However, there is a way to set up a qualified plan and potentially contribute millions of dollars.

To learn more about this strategy, join Centura Wealth Advisory’s Sean Clark, Wealth Advisor, and Christopher Hyman, Director of Insurance Solutions, as they explain how to design such qualified plans, the types of businesses they are suited for, and any caveats to look out for.

Sean and Chris discuss:

  • The difference between defined contribution and defined benefit plans
  • A brief overview of how contribution limits are determined
  • How the plan works from setup to maintenance to termination (especially when a business is sold)
  • How to defer more money than conventional retirement savings plans (e.g., 401k, SEP IRA, etc)
  • The benefits of integrating life insurance into your qualified plan
  • And more

Connect with Sean Clark:

Connect with Christopher Hyman:

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Effective Use Cases of Life Insurance for Wealth Transfer, Tax Planning, and More (Ep. 91)

Effective Use Cases of Life Insurance for Wealth Transfer, Tax Planning, and More (Ep. 91)

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Life insurance is often only viewed as a way to get a death benefit.

But if you look beyond its conventional definition, you’ll see how life insurance has several use cases in tax planning, wealth transfer, and as an alternative investment!

Join Centura Wealth Advisory’s Sean Clark, Wealth Advisor, and Christopher Hyman, Director of Insurance Solutions, for an enlightening conversation about the role of life insurance in comprehensive wealth management — especially for high-net-worth individuals.

Sean and Chris discuss:

  • How life insurance provides the much-needed liquidity to pay off estate taxes
  • Life insurance as an alternative asset class
  • Four tax advantages of life insurance
  • How business owners can effectively utilize insurance in risk management, exit planning, and other scenarios
  • A rapid-fire Q&A session about insurance
  • And more

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Tax Countdown: Planning for the Expiration of the TCJA (Ep. 90)

Tax Countdown: Planning for the Expiration of the TCJA (Ep. 90)

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In 2017, the Tax Cuts and Jobs Act (TCJA) introduced some significant changes to tax laws, both on the income and estate side.

Now, as we approach its expiration on December 31st, 2025, it is important to plan for the looming tax changes!

Join our senior wealth advisors Matt Griffith, CFP®, and Roby Kotcamp, CFP®, as they unpack the potential tax changes and their implications for high-net-worth individuals and business owners.

Matt and Roby discuss:

  • How income tax rates and deductions might be affected
  • Expected changes in the lifetime exemption for estate and gift tax
  • Strategies that may help you take maximum advantage of the prevailing tax laws
  • Why you should act now instead of waiting until 2025
  • And more

Resources: 

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Connect with Roby Kotcamp:

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How to Plan for the Looming Estate Tax Issue (Ep. 89)

How to Plan for the Looming Estate Tax Issue (Ep. 89)

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The once-generous estate and gift tax exemptions set by the Tax Cuts and Jobs Act (TCJA) are due to sunset on December 31, 2025.

Is your estate plan ready for the challenge?

In this episode, Kyle Malmstrom, Managing Director, and Christopher Hyman, Director of Insurance Solutions, refer to strategies to reduce the estate tax liability that may significantly increase for many high-net-worth families after the TCJA expires.

Kyle and Chris discuss:

  • A brief overview of how exemption limits have changed over the years
  • The importance of creating liquidity well before the transfer of estate (especially for business and real estate owners)
  • Tax and liquidity benefits of an irrevocable life insurance trust (ILIT)
  • Why you should seek expert guidance in estate planning and structuring any trusts
  • And more

Connect with Kyle Malmstrom:

Connect with Christopher Hyman:

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Unbundling Financial Services and Maximizing Value for High-Net-Worth Individuals (Ep. 88)

Unbundling Financial Services and Maximizing Value for High-Net-Worth Individuals (Ep. 88)

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As the financial services industry moved to a fee-based model, many firms started to ‘bundle’ their services. For example, investment management may be bundled with financial planning.

But are clients really getting maximum value from bundled services?

In this episode, Derek Myron, CFP®, Managing Director, and Sean Clark, Director of Financial Planning,  explore the benefits of unbundling financial services, especially for high-net-worth individuals and founder-led business owners.

Derek and Sean discuss:

  • The evolution of financial services toward fee-based RIAs
  • The distinction between “above the line” and “below the line” services
  • The value of income tax planning, wealth transfer planning, and balance sheet optimization
  • What to do if you feel you’re underserved (or need help finding a new professional)
  • Helpful advice for business owners considering selling their business
  • And more

Resources:

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Connect with Sean Clark:

Connect with Centura Wealth Advisory:
Investing Amidst Uncertainty: A 2024 Election Discussion with Michael Townsend (Ep. 87)

Investing Amidst Uncertainty: A 2024 Election Discussion with Michael Townsend (Ep. 87)

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Are you worried about the impact of the 2024 election on the markets and your investments?

Especially when geopolitical tensions, the uncertainty of tax law changes, the ousting of the Speaker of the House, and the threat of a government shutdown are adding to the stress?

In this episode, Matt Griffith, CFP®, Senior Wealth Advisor, and Chris Osmond, CFA, CAIA®, CFP®, Chief Investment Officer, speak with Michael Townsend, Managing Director, Legislative and Regulatory Affairs at Charles Schwab & Company. Join them as they explore potential market implications of the upcoming U.S. presidential elections.

Michael discusses:

  • An overview of the current political landscape
  • The ongoing speculation of Biden, Trump, or both dropping out
  • Potential implications of a divided government and/or a split Congress
  • How markets have historically performed before and after elections
  • The importance of cutting through the noise (and emotions) and focusing on long-term goals
  • And more

Connect with Michael Townsend:

Connect with Chris Osmond:

Connect with Matt Griffith:

Connect With Centura Wealth Advisory:

About Our Guest:

Michael is Schwab’s Washington-based political analyst. With more than 30 years of Washington experience, he analyzes legislative, regulatory, and political developments to determine how they would affect individual investors, retirement plan participants, and investment advisers.

Michael is the host of Schwab’s WashingtonWise podcast, which explores the intersection between policy, politics, the markets, and the economy. He is a featured speaker at dozens of employee, client, adviser, and industry events each year, where he discusses the impact of the political and policy environment in Washington on investors and the capital markets.

Prior to joining Schwab in 2000, Michael worked at Powell Tate, Inc., a Washington, D.C., public affairs firm, and previously worked for two U.S. senators from Maine. He holds an M.A. in English from George Mason University and a B.A. in English from Bowdoin College.
Keys to Building an Amazing Corporate Culture and a Rockstar Team (Ep. 86)

Keys to Building an Amazing Corporate Culture and a Rockstar Team (Ep. 86)

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With companies shifting to a hybrid work environment, it has become challenging to maintain a strong corporate culture, attract top talent, and build high-performing teams.

In this episode, Derek Myron, CEO, and Jonathan Freeman, COO, share actionable ideas to build a thriving corporate culture. They tap into best practices that have helped Centura Wealth Advisory (Centura) enhance communication, foster trust, and improve team morale.

Derek and Jonathan discuss:

  • The challenges of expanding a team across the country
  • Centura’s tried-and-tested team building ideas (Waffle Wednesdays, the 48-hour rule, and more!)
  • How to improve communication and trust at every level of the organization
  • What it takes to become an employer of choice
  • And more

Resources:

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Connect With Jonathan Freeman:

Connect With Centura Wealth Advisory:
How Centura Creates Value for High-Net-Worth Individuals (Ep. 85)

How Centura Creates Value for High-Net-Worth Individuals (Ep. 85)

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As your wealth grows, your financial planning needs become significantly more complex.

At Centura Wealth Advisory (Centura), we specialize in serving high-net-worth and ultra-high-net-worth individuals, helping them lighten the burdens of wealth!

In this episode, Kyle Malmstrom and Sean Clark, MBA, talk about Centura’s Liberated Wealth® process, including an overview of our sophisticated wealth management and tax planning strategies.

Kyle and Sean discuss:

  • Why Centura differs from other wealth management firms
  • How to move the needle with above-the-line planning (income tax, wealth transfer, and balance sheet optimization)
  • Centura’s rigorous due diligence process
  • How Centura taps into 50+ planning strategies to find the right solution for clients
  • And more

Resources:

Connect with Kyle Malmstrom:

Connect With Sean Clark:

Connect With Centura Wealth Advisory:

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