Recent Updates Regarding Washington State Taxes
Washington Capital Gains Tax Beginning January 1, 2022, a flat 7% tax on net long-term capital gains went into effect. Many advisors believed the tax to be unconstitutional and that it would be repealed if/when challenged. However, the WA Supreme Court upheld the tax in March of 2023 in Quinn v. Washington. Additionally, the public […]
The Hard Work of Inheritance
Preparing for the Personal Process of Estate Settlement Boomers, Gen X, Millennials, and Gen Z: No matter where an individual sits on the family tree, they all need to be planning—together—for the inevitable death of a family member. When an individual loses a parent, sibling, or child, there are so many emotions at play. Few […]
Getting Started in Private Market Investment
Investor interest in private markets has surged over the past decade. To understand why, it’s essential to grasp what these investments entail and the factors driving their growth. Here, we offer insights into the complexities and benefits of private market investments and outline Whittier Trust‘s distinctive approach. Demystifying Private Market Alternatives Private market alternatives might sound exotic, but they’re […]
Five Key Questions to Ask Before Transitioning the Family Business
What ultra-high-net-worth individuals need to consider when mulling an exit. In my role at Whittier Trust, I’ve seen firsthand how critical it is for ultra-high-net-worth individuals (UHNWIs) to have a well-thought-out exit strategy for their family businesses. Despite the intensive planning that typically goes into wealth management, recent research from the Exit Planning Institute suggests […]
Overview of Investments in Nevada
Future generations can gain the full benefit of your business legacy with a seamless transition to a successor trustee. Investing is a balancing act between risk and reward in the best of times, but today’s uncertain economic climate and fluctuating markets present an unprecedented challenge for investors. While some people choose to stay with traditional […]
Making the Puzzle Fit: Aligning Your Concerns with Your Investment Timeline
Asset allocation is widely regarded as the single most important factor driving portfolio returns. It is grounded in financial theory and historical data but also incorporates the individual circumstances and risk tolerance of each investor. In essence, it is mostly science but does incorporate some art. Time horizon is one of the most fundamental considerations […]
Home Means Nevada: 4 Key Reasons Nevada Should Be Home For You—And Your Wealth
Home Means Nevada—those are three words that every Nevadan knows. Aside from being the title of our state anthem, these words are plastered on bumper stickers, t-shirts and souvenirs across the Silver State. Nevada is renowned for its stunning natural landscapes and bustling entertainment scene and it continues to attract new residents drawn by its unique opportunities and lifestyle. […]
Estate Planning for Trusts with Real Estate Assets
Future generations can gain the full benefit of your business legacy with a seamless transition to a successor trustee. Investors with significant real estate portfolios often have an enterprising spirit to grow net worth through real estate, and succession planning may be difficult for this type of successful wealth builder. Many are reluctant to relinquish control to […]
Don’t Wait For The Sunset
The November election will impact whether the 2017 Tax Cuts and Jobs Act expires as scheduled, but the time to act is now. Ultra-high-net-worth individuals (UHNWIs) are anticipating the sunset of the 2017 Tax Cuts and Jobs Act (TCJA), which is set to expire at the end of next year. The TCJA was enacted to address […]
Ensuring a Smooth Generational Transfer
Transferring the ownership of a family business from one generation to the next can be challenging, particularly in today’s world, where the financial values and business objectives of multiple generations may differ. As an advisor, I have witnessed the various difficulties families face while navigating the process of transitioning the family business to the next […]