Tag: Liberated Wealth™

ING Trusts: How to Minimize State Income Taxes (Ep. 83)

ING Trusts: How to Minimize State Income Taxes (Ep. 83)

There is a wide disparity in tax rates between U.S. states. For example, the top tax rate in California is 13.3%, while South Dakota has 0% state tax on trusts!

However, if you live in a high-income-tax state, you can still benefit from lower tax rates without moving physically.

In this episode, Kyle Malmstrom, Managing Director, and Roby Kotcamp, CFP®, Senior Wealth Advisor, explain how to use an Incomplete Non-Grantor (ING) Trust to minimize state income taxes.

Kyle and Roby discuss:

  • Types of assets suitable for an ING Trust
  • The correct sequence of steps to ensure the ING Trust is set up properly
  • An example showcasing the practical application and scope of an ING Trust
  • Potential pitfalls of the ING Trust strategy
  • Alternative strategies for states where an ING Trust is not possible (E.g., California)
  • And more

Resources:

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The QPRT Strategy: How to Reduce Estate and Gift Taxes (Ep. 82)

The QPRT Strategy: How to Reduce Estate and Gift Taxes (Ep. 82)

While passing on your wealth to future generations, you might want to make it as estate tax-efficient as possible.

If your estate amount exceeds the estate tax exemption limit, a Qualified Personal Residence Trust (QPRT) might be for you.

In this episode, Seth Meisler, CFA, CFP®, CPA/PFS, MBA, Senior Wealth Advisor, and Samantha Lawrence, CFP®, Associate Advisor, discuss how the QPRT strategy can help reduce your wealth transfer taxes.

Seth and Samantha discuss:

  • How a QPRT works and the process for setting it up
  • The major tax benefits involved (estate and gift)
  • Who is the ideal candidate for the QPRT strategy
  • Potential risks related to QPRTs that you should keep in mind
  • And more

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How to Achieve Tax Efficiency With Private Placement Life Insurance With Christopher Hyman (Ep. 81)

How to Achieve Tax Efficiency With Private Placement Life Insurance With Christopher Hyman (Ep. 81)

High-net-worth and ultra-high-net-worth individuals are often focused on protecting and growing their wealth while minimizing taxes. However, not all of their assets generate “tax-efficient” income.

This is where private placement life insurance (PPLI) can come into play.

In this episode, Derek Myron interviews Christopher Hyman, Director of Insurance Solutions at Centura Wealth Advisory. They explain how PPLI serves as a tax-efficient way to grow assets from taxes while offering high flexibility and low fees, as well as providing death benefit protection.

Derek and Chris discuss:

  • How PPLI works and who it is best suited for
  • PPLI’s major tax advantages for high-net-worth individuals (net worth above $10 million)
  • Potential risks in PPLI that investors should know about
  • How PPLI can be highly personalized to meet client-specific needs
  • And more

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About Our Guest:

Chris has been in the financial services industry for over fifteen years, nine of those serving ultra-affluent families and privately held businesses. As Director of Insurance Solutions, Chris is responsible for modeling in-depth customized planning solutions that fit the diverse needs and goals of Centura clients, as well as assisting in the ongoing stewardship of those plans. Before joining Centura, Chris served as the sole Case Design specialist for an advisory member firm of M Financial Group, where he developed life insurance solutions for high net worth clients, geared toward estate planning, tax efficiency, and executive compensation.

Chris earned his Bachelor of Science (B.S.) in Accounting from the University of Delaware. He resides in Wilmington, Delaware with his wife Amanda, and their three children. His primary joy is spending time with family and friends. He also enjoys reading, fitness training, outdoor activities, and traveling to the shore.

Centura Client Experience from the View of a Retired Business Owner (Ep. 80)

Centura Client Experience from the View of a Retired Business Owner (Ep. 80)

Are you thinking about selling your business? Do you feel overwhelmed and unsure about the process?

In this episode, Derek Myron interviews Donovan Weber, who recently sold his business to an international conglomerate. Donovan shares the planning process he went through at Centura Wealth Advisory (Centura) before and after selling his business, the things he discovered along the process and how it helped him achieve his goals.

Donovan discusses:

  • What it’s like to move through Centura’s Liberated Wealth® process
  • How Centura helped him navigate charitable planning and tax efficiency
  • How alternative investments have benefited his overall portfolio
  • His advice for business owners who haven’t considered an exit strategy yet
  • And more

Resources:

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The presented testimonial is from a current Centura client and is for informational purposes only. The statements provided should not be considered as a representation of all client experiences, which may differ substantially.

Private Equity Investment Opportunities in India (2023 Edition) With Manu Rikhye (Ep. 79)

Private Equity Investment Opportunities in India (2023 Edition) With Manu Rikhye (Ep. 79)

With its young population, strong tailwinds, and supportive political regime, India might be the next bright spot for investors.

In this episode, Chris Osmond, Chief Investment Officer speaks with Manu Rikhye, partner at GrowX Venture Management and Merak Ventures, about the Indian investment landscape and how to navigate the risks. Join them to learn about diversifying your portfolio outside of the U.S. markets, especially in private equity.

Chris and Manu discuss:

  • Major trends that are driving private equity investment opportunities in India
  • Sectors in India that are experiencing the most momentum 
  • Increasing interest of US firms in India’s venture capital ecosystem
  • Centura Wealth Advisory’s rigorous approach to due diligence for identifying top-tier asset managers
  • And more

Resources:

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About Our Guest:

An accomplished professional with 16 years of all‐round contribution in financial services, Manu has extensive experience in the offshoring industry and distressed debt management space – with expertise in core business strategy, M&A, and inspirational leadership. A founding member of the Midland Credit Management India Pvt. Ltd, a wholly owned subsidiary of US-based Encore Capital Group, he was responsible for strategy, business plans, budgets, and P&L for the India Debt Recovery Operations for Encore’s US, UK and Australia & New Zealand portfolios. In 2015, Manu led the acquisition of Baycorp, a leading debt purchasing and contingency collections company based in Australia and New Zealand. Prior to Encore, Manu has worked with established brands including Global Vantedge and GE Capital International Services.

Centura Client Experience: Exiting a Business (Ep. 78)

Centura Client Experience: Exiting a Business (Ep. 78)

The sale of a business represents not only the culmination of years of hard work and dedication but also a unique opportunity to amass considerable wealth.

With so much at stake, having a specialized wealth management team in your corner can make a significant difference!

In this episode, Derek Myron speaks with Jimmy Page, who recently sold his business. Jimmy shares his experience of working with Centura Wealth Advisory (Centura) and how it has benefited his wealth management. 

Jimmy discusses:

  • When is the ideal time to start planning your business exit
  • The importance of having a collaborative team of professionals (financial advisors, CPA, estate planning attorneys, etc.)
  • How Centura helped him navigate alternative investments
  • His advice on what to look for in a professional wealth management team
  • And more

Resources:

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The presented testimonial is from a current Centura client and is for informational purposes only. The statements provided should not be considered as a representation of all client experiences, which may differ substantially.

Preparing for Change: How to Adapt to Economic and Tax Legislation Shifts (Ep. 77)

Preparing for Change: How to Adapt to Economic and Tax Legislation Shifts (Ep. 77)

Are you a business owner or high-income executive concerned about recent changes in the economic, political, and tax environment?

In this episode, Kyle Malmstrom and Matt Griffith, CFP®, cover a range of topics, including ways to prepare for a huge liquidity event, tax planning, investment considerations during high interest rates, and an overview of our Liberated Wealth® process.

Kyle and Matt discuss:

  • Key changes in the past 12 months that can impact your wealth
  • Tips for business owners either setting up a new entity or planning their exit
  • What to do if your wealth is tied up in a concentrated stock position
  • The importance of working with a professional advisory team
  • And more

Resources:

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Centura Client Experience from the View of a Retired Certified Public Accountant (Ep. 76)

Centura Client Experience from the View of a Retired Certified Public Accountant (Ep. 76)

Krista Schmitt, a retired CPA, has spent nearly 30 years working for a Fortune-500 company in the area of accounting and financial information systems.

Despite her financial background, she knew she wanted to lean on an expert and decided to work with Centura Wealth Advisory (Centura) and has been a client of Derek Myron, Managing Director, for nearly two decades!

In this episode, Derek interviews Krista about her experience as Centura’s client moving through the Liberated Wealth® Process.

Derek and Krista discuss:

  • Why Krista started to feel that investing only in a 401(k) wasn’t enough
  • Her exposure to alternative investments as Centura’s client (and how it impacted her portfolio)
  • The benefits of working with a well-coordinated and trusted team of professionals
  • The best place to start if you do not have a team of advisors yet
  • And more

Resources:

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Connect With Centura Wealth Advisory:

The presented testimonial is from a current Centura client and is for informational purposes only. The statements provided should not be considered as a representation of all client experiences, which may differ substantially.

Collaboration in Financial Services: How One Plus One Can Deliver Exponential Results with Tom Oliveira (Ep. 75)

Collaboration in Financial Services: How One Plus One Can Deliver Exponential Results with Tom Oliveira (Ep. 75)

If you’re a financial advisor, you know that the industry can be tough to navigate alone. The key to growth lies in collaboration with fellow professionals.

Collaboration not only paves the way for accelerated growth, but it can also improve your client service!

In this episode, Derek Myron speaks with Tom Oliveira, Wealth Advisor at Oliveira Wealth, LLC, about how collaboration in financial services can lead to exponential results.

Derek and Tom discuss:

  • Tom’s experience of collaborating with Centura Wealth Advisory on a complex case
  • How collaboration can lead to life-changing results for both firms
  • The scarcity vs. abundance mentality and the importance of trust and transparency
  • What it’s like to participate in our Elite Advisor Collaboration Program (EACP)
  • And more

Resources:

Connect with Tom Oliveira:

Connect with Derek Myron:

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About Our Guest:

Tom began his career in 1994 with an advisory position at Northwestern Mutual.  He helped clients with investments, risk management, retirement income, business and estate planning. In 2006, with a desire to offer his clientele premier wealth management, he started Oliveira Wealth, LLC, a SEC registered RIA to provide customized investment and estate services to high- net worth families and businesses. Oliveira Wealth prides itself on creative tax management strategies, tax favored retirement planning and “outside the box” concepts. He graduated from CSU, Stanislaus with a degree in Finance.  He has achieved industry designations of CLU, ChFC, CASL and RICP.  He enjoys playing pickleball in his spare time.

Private Fiduciaries and Their Role in Estate Planning with David Stapleton (Ep. 74)

Private Fiduciaries and Their Role in Estate Planning with David Stapleton (Ep. 74)

Private fiduciaries can play a critical role in managing and protecting the assets of their clients. They also help ensure that their clients’ wishes are carried out after they are gone and their assets reach their desired beneficiaries.

In this episode, Derek Myron speaks with David Stapleton, President of Stapleton Group, Inc., about private fiduciaries, their role in managing assets and estates, and the benefits they can provide to individuals and families.

Derek and David discuss:

  • Services and benefits offered by private fiduciaries
  • How private fiduciaries differ from trust banks
  • The pros and cons of choosing family members to act as your trustee
  • Real-world examples of what it’s like to work with a private fiduciary
  • And more

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About Our Guest:

David P. Stapleton, a nationally-recognized federal receiver, trustee and restructuring expert, resolves complex problems caused by non-performing commercial loans and shareholder disputes.  In representing creditors, business owners and legal counsel, David quickly identifies the obstacles between the parties involved and implements actions to overcome impasses.  His expertise spans receiverships; assignments for the benefit of creditors (ABCs); bankruptcy plan administration and liquidations; federal equity receiverships; and, financial advisory.