Tag Archives: Wealth Transfer

“Above-the-Line” Financial Planning: How to Move the Needle on Your Wealth Management Services (Ep. 66)

December 14, 2022Centura Wealth Advisory, Finance, Financial, Financial Planning, UncategorizedCentura Wealth Advisory, Derek Myron, Estate Planning, Financial Plan, financial planning, Liberated Wealth™, Live Life Liberated, Sean Clark, Tax Planning, Wealth Transferlivelifeliberated

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At Centura, we divide financial planning services into two categories: 1) Steps that make your plan just “good enough” and 2) Steps that actually move the needle and make a measurable difference in your wealth.

In this episode, Derek Myron and Sean Clark unpack the four steps that fall “below-the-line” and three steps that fall “above-the-line” in financial planning. They further explain the impact that each step has on your financial plan.

Derek and Sean discuss:

What sets Centura Wealth Advisory’s Liberated Wealth® Process apart
The importance of adopting a forward-looking approach to tax planning
How Centura professionals collaborate with CPAs and estate planning attorneys to improve the client experience
How balance sheet optimization works (and why it matters)
And more

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Tax-Efficient Philanthropy With Charitable Remainder Trusts (Ep. 65)

November 30, 2022Centura Wealth Advisory, Finance, Financial, Financial Planning, UncategorizedCentura Wealth Advisory, Charitable Planning, Charitable Remainder Trust, Derek Myron, Kyle Malmstrom, Liberated Wealth™, Live Life Liberated, Philanthropy, Tax Planning, Wealth Transferlivelifeliberated

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Historically, many Americans have been quite charitably inclined.

If you are one of them, your philanthropic efforts can be optimized with Charitable Remainder Trusts (CRTs) that help you minimize your taxes when donating to your favorite organizations.

In this episode, Derek Myron and Kyle Malmstrom explain the benefits and risks of Charitable Remainder Trusts (CRTs) and why they are starting to regain their relevance in the current environment.

Derek and Kyle discuss:

How to determine if CRTs are ideal for your family
The different types of Charitable Remainder Trusts — and how to plan for them
How payout rates and duration impact your charitable planning
The types of investments that might work best within CRTs
And more

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Centura Client Experience from Retired Executives Point of View (Ep. 64)

November 16, 2022Centura Wealth Advisory, Finance, Financial, Financial Planning, UncategorizedCentura Wealth Advisory, Client Experience, Derek Myron, financial planning, Investments, Liberated Wealth™, Live Life Liberated, Tax Planning, Wealth Management, Wealth Transferlivelifeliberated

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Chuck and Mary Ann Cox became clients of Derek Myron, Managing Director of Centura Wealth Advisory (Centura), in 2004. After 18 years of wealth management and financial planning, Derek continues to serve Chuck today (unfortunately, Mary Ann passed away in 2018).

In this episode, Derek Myron interviews Chuck Cox, a retired executive, about his client experience at Centura. Chuck provides insights into the wealth management approach adopted by Centura and how it has improved his financial well-being over the years.

Chuck discusses:

The challenges he and Mary Ann faced while managing wealth on their own
How Centura advisors helped him in estate planning, tax planning and balance sheet optimization
How alternative investments contributed to his financial goals
Why he was able to assist in his daughter’s business without taking a hit on his own financial position
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.

Centura Client Experience from Retired Executives Point of View (Ep. 60)

August 31, 2022Centura Wealth Advisory, Finance, Financial, Financial Planning, UncategorizedCentura Wealth Advisory, Client Experience, Derek Myron, financial planning, Investments, Liberated Wealth™, Live Life Liberated, Tax Planning, Wealth Management, Wealth Transferlivelifeliberated

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Aubrey Serfling and Lori Long have worked with Centura Wealth Advisory (Centura) as clients for over eight years now. Despite being retired executives today, they continue to work on their charitable endeavors.

In this episode, Derek Myron interviews Aubrey and Lori about their client experience at Centura. They share insights into their wealth management journey which includes comprehensive tax planning, estate planning, balance sheet optimization, and cash flow planning.

Aubrey and Lori discuss:

Major pain points they uncovered during their discovery process
How they have benefited from trusts (e.g. CLATs) and various alternative investments
Balance sheet items that caused maximum problems — and how they addressed them
Their advice to executives who are trying to manage wealth on their own
And more

Resources:

Centura Wealth Advisory’s Liberated Wealth® Process

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The Client Experience at Centura Wealth Advisory With Our Client Marilyn Daniels (Ep. 57)

July 20, 2022Centura Wealth Advisory, Finance, Financial, Financial Planning, UncategorizedCentura Wealth Advisory, Client Experience, financial planning, Investments, Liberated Wealth™, Live Life Liberated, Marilyn Daniels, Wealth Management, Wealth Transferlivelifeliberated

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After her father passed away in 1994, Marilyn Daniels was suddenly thrust into managing a large pool of assets and forced to make several key financial decisions. In 2004 she joined Centura Wealth Advisory (Centura) as a client.

In this episode, Derek Myron interviews Marilyn about her client experience at Centura and how her financial picture has evolved over the years.

Marilyn discusses:

Major wealth transfer challenges she faced while inheriting her parents’ estate
How financial planning has contributed to her charitable endeavors
How Centura’s team of professionals helped her overcome the complexity of wealth management
Her best and worst investments — and what she learned from them
And more

Resources:

Centura Wealth Advisory’s Liberated Wealth® Process

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

December 15, 2021Centura Wealth Advisory, Finance, Financial, Financial PlanningBuild Back Better Act, Centura Wealth Advisory, Derek Myron, estate tax, IRA, Kyle Malmstrom, Liberated Wealth™, Live Life Liberated, Retirement, Tax Planning, Wealth Transferlivelifeliberated

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

November 17, 2021Centura Wealth Advisory, Finance, Financial, Financial Planning, UncategorizedBuild Back Better Act, Centura Wealth Advisory, Derek Myron, estate tax, IRA, Kyle Malmstrom, Liberated Wealth™, Live Life Liberated, Tax Planning, Wealth Transferlivelifeliberated

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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:

The Build Back Better Framework

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Episode 29 – The Potential Impact of New Tax Proposals on Capital Gains Tax and Estate Planning

May 5, 2021Centura Wealth Advisory, Finance, Financial, Financial Planning, UncategorizedBusiness, Capital Gains Tax, Centura Wealth Advisory, Derek Myron, Estate Planning, Financial Advisors, financial planning, Gift Tax, Kyle Malmstrom, Liberated Wealth™, Tax Changes, Tax Proposal, Wealth Transferlivelifeliberated

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With the For The 99.5% Act proposal, estate tax and capital gains tax are expected to rise drastically starting in January 2022. Several tax benefits might also be eliminated.

What can you do now to minimize the impact of this act on your estate planning?

Derek Myron and Kyle Malmstrom answer this question in this episode. They discuss what the new tax proposal entails, the implications if it is passed, and things you can do before the 2021 year-end to minimize your estate taxes and ensure maximum wealth transfer to your beneficiaries.

You will learn:

Tax saving opportunities posed by the current, all-time high benefits
Why you should contact a professional and begin estate planning as early as possible
The benefits of IR-2019-189 regulations for your estate and gift taxes
Strategies to build a blueprint for efficient estate planning
And more!

Tune in now to learn how you can prepare yourself to deal with the expected tax changes!

Resources: Centura Wealth Advisory: (858) 771-9500 | Derek Myron on LinkedIn | Kyle Malmstrom on LinkedIn