Wealth Management Center
Preserving and enhancing wealth for the future with financial-planning experts Bill Cass and Chris Hennessey
About this blog
Financial-planning experts Bill Cass and Chris Hennessey weigh in each week with a range of insights about complex financial planning needs.
William Cass, CFP®, CPWA®
Director of Wealth Management Programs for Putnam.
Lawyer and CPA, Faculty Director, Babson College School of Executive Education, is a member of the Putnam Business Advisory Group.
RMD waiver expanded for all investors in 2020
The IRS released new guidance that expanded the RMD waiver for use by all investors in 2020.
Small-business owners need to act soon on loan program
There is still funding available loans under the Paycheck Protection Program (PPP), but small-business owners need to apply before June 30, 2020.
As the pandemic weighs on the economy, make sure assets are protected
Given the economic downtown , it’s even more important for investors consider a plan to make sure assets are protected.
Congress extends loan forgiveness for small business PPP
Congress last week passed legislation to extend the timeline and requirements for loan forgiveness under the PPP program.
Historically low rates, market conditions open door for GRATs
Lower asset values combined with historically low interest rates may favor certain wealth transfer strategies such as GRATs.
Value of higher education continues to increase
Much is shifting in the education landscape, but some things continue to improve, including the value of higher education.
Guidelines offer clarity on PPP loan forgiveness for small businesses
The Small Business Association announced guidelines for loan forgiveness for the PPP program for small businesses.
Moving forward when RMDs are suspended
The CARES Act provisions suspended RMDs for this year and may impact investors' financial plans.
Planning for college in challenging times
Planning for college can be challenging in the near term but families and students can still make progress toward their goals.
States, businesses hope for more economic aid in next pandemic relief bill
Many lawmakers are planning for a fourth phase of pandemic relief funding, which could include aid for states and individuals.
Five planning ideas to consider under the CARES Act
The CARES Act provides emergency assistance to those affected by the pandemic with a range of programs from expanded unemployment benefits to loans.
Pandemic highlights need for legal documents
The pandemic highlights the importance of family communications and having legal documents in place.
CARES Act loosens rules for retirement accounts
Among the many provisions of the CARES Act are modifications of the rules involving retirement accounts to help both retirement savers and retirees.
Three things business owners need to know about the CARES Act
The CARES Act has multiple provisions to help small businesses and employees weather the economic downturn.
Massive COVID-19 spending bill to help individuals, businesses
The Senate passed the CARES Act which provides emergency assistance for individuals, families, and businesses affected by the COVID-19 pandemic.
Five planning strategies for volatile markets
Volatile markets can present certain financial planning opportunities.
Video: Planning strategies for designating heirs under new 10-year rule
The new 10-year rule resulted in several planning considerations for investors as they choose beneficiaries for estate plans.
Video: Consider hedging against future higher tax rates with a Roth
Consider Roth IRAs and other tax efficient strategies when planning ahead for potential future higher taxes.
Video: Where are tax rates headed?
The need for additional government revenue will pressure lawmakers to raise tax rates in the future.
New rule under SECURE Act blocks tax abuses using QCDs
The SECURE Act introduced an anti-abuse rule to prevent benefiting twice from taking IRA distributions and QCDs.
Tax planning is a topic for all seasons
There may be more opportunities to use tax-efficient strategies if investors focus on tax planning throughout the year.
Trust strategies rattled by SECURE Act
The SECURE Act recast the rules for leaving retirement assets to heirs, creating challenges for beneficiaries and conflicts with certain trust strategies.
Tax season planning under the TCJA
A new perspective on tax deductions
Optimize the small-business tax deduction
Estate planning considerations before the law sunsets
New strategies emerge for Roth conversions
Tax rates lowered, deductions limited in tax law
The tax reform law lowers tax rates and imposes new limits on many deductions.
Many deductions changed in new tax law
The standard deduction doubles while some popular tax deductions are limited or eliminated by tax reform.
Estate planning remains vital
Despite higher exclusion levels for federal estate taxes, estate planning remains vital for taxpayers.
Tax reform creates new deduction for small businesses
Understanding the new 20% deduction for business income is key for small business owners.
New tax law influences individual planning
Individuals may consider various strategies for charitable giving and financial planning in the new tax environment.
$30T in wealth transfer creates opportunity
Advisors may consider expanding their value proposition and professional network to grow their business.
Top strategies for advisors when heirs inherit wealth
Learning about an investor's family can help advisors connect with the next generation.
Social strategies for meeting the next generation
Start with social media and expand to social events to reach out to the next generation of clients.
Use family meetings for more effective wealth transfer
Hosting a family meeting can help investors and their children focus on values, planning issues, and philanthropy.
College savings plans offer tax advantages
Explore tax-advantaged savings when planning for college.
Chris Hennessey is Professor Emeritus of Law at the Babson College School of Executive Education and member of the Putnam Investments Business Advisory Group. His opinions do not necessarily reflect those of Putnam Investments.