Whittier Trust presents an overview on how to build a family foundation that will provide a strong family legacy while maintaining continuity. This webinar offers insight on how to formalize a family foundation, the different roles each generation of your family plays, how to use grant-making as a positive training tool and other helpful best practices.

The discussion incorporated real-life scenarios to show how:

  • Philanthropy can be an excellent training ground for NextGens to learn about financial and business analysis.
  • Engaging in philanthropy can offer a safe and neutral space for young family members to demonstrate responsibility and acumen.
  • Intentional philanthropy goes beyond doing good for your community, and how it can strengthen interpersonal ties, bridge generations and build a family’s legacy.
  • After the sale of a family business, formalized philanthropy provides a reason to meet, collaborate and promote shared values.

Whittier Trust’s Ashley Fontanetta, Vice President, Philanthropic Services; Channing Grigsby, Vice President, Philanthropic Services; and David Shaw, Publishing Director, Family Business Magazine, provide an overview and best practices for NextGen philanthropy and family continuity.

Whittier Trust Company and The Whittier Trust Company of Nevada, Inc. are state-chartered trust companies, which are wholly owned by Whittier Holdings, Inc., a closely held holding company. All of said companies are referred to herein, individually and collectively, as “Whittier”. The accompanying materials are provided for informational purposes only and are not intended, and should not be construed, as investment, tax or legal advice. Please consult your own investment, legal and/or tax advisors in connection with financial decisions and before engaging in any financial transactions. These materials do not purport to be a complete statement of approaches, which may vary due to individual factors and circumstances. Although the information provided is carefully reviewed, Whittier makes no representations or warranties regarding the information provided and cannot be held responsible for any direct or incidental loss or damage resulting from applying any of the information provided. Past performance is no guarantee of future results and no investment or financial planning strategy can guarantee profit or protection against losses. These materials may not be reproduced or distributed without Whittier’s prior written consent.

From Investments to Family Office to Trustee Services and more, we are your single-source solution.

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Whittier Trust presents Jerrold D. Green, President and CEO of the Pacific Council on International Policy, to speak to us about the geopolitics of the unfolding tragedy in Ukraine. As Russia continues its brutal attempt to subjugate a free and democratic Ukraine, the global community is both adjusting its view on the international system, heretofore focused largely on China, as well as on how best to support Ukrainian independence as a non-member of NATO. As the largest land war in Europe since World War II tragically unfolds, Russia is becoming increasingly isolated and Putin more menacing. These unprecedented geopolitical realities are evolving and changing in real-time, thus necessitating constant vigilance and reassessment.

The Pacific Council on International Policy promotes global engagement across Los Angeles and California, with the belief that everyone has a role to play in global affairs. The Pacific Council builds the capacity of local citizens to become global affairs champions, harnesses the collective power of individuals, businesses, and institutions, and exports LA’s talents and specialties to the rest of the world.

The Council is committed to representing and addressing California’s diverse perspectives and challenging all citizens to think critically about global issues. The Council is proud to have Whittier Trust as a corporate member and partner.

Whittier Trust Company and The Whittier Trust Company of Nevada, Inc. are state-chartered trust companies, which are wholly owned by Whittier Holdings, Inc., a closely held holding company. All of said companies are referred to herein, individually and collectively, as “Whittier”. The accompanying materials are provided for informational purposes only and are not intended, and should not be construed, as investment, tax or legal advice. Please consult your own investment, legal and/or tax advisors in connection with financial decisions and before engaging in any financial transactions. These materials do not purport to be a complete statement of approaches, which may vary due to individual factors and circumstances. Although the information provided is carefully reviewed, Whittier makes no representations or warranties regarding the information provided and cannot be held responsible for any direct or incidental loss or damage resulting from applying any of the information provided. Past performance is no guarantee of future results and no investment or financial planning strategy can guarantee profit or protection against losses. These materials may not be reproduced or distributed without Whittier’s prior written consent.

From Investments to Family Office to Trustee Services and more, we are your single-source solution.

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Whittier Trust is excited to provide access to a panel of experts from Keck Medicine of USC thanks to our longstanding relationship with the medical center. You’re invited to hear about revolutions in diagnosis, treatment, and tips for optimal and joyful aging. Topics will also include heart health, eye health, and Alzheimer’s prevention.

Whittier Trust Company and The Whittier Trust Company of Nevada, Inc. are state-chartered trust companies, which are wholly owned by Whittier Holdings, Inc., a closely held holding company. All of said companies are referred to herein, individually and collectively, as “Whittier”. The accompanying materials are provided for informational purposes only and are not intended, and should not be construed, as investment, tax or legal advice. Please consult your own investment, legal and/or tax advisors in connection with financial decisions and before engaging in any financial transactions. These materials do not purport to be a complete statement of approaches, which may vary due to individual factors and circumstances. Although the information provided is carefully reviewed, Whittier makes no representations or warranties regarding the information provided and cannot be held responsible for any direct or incidental loss or damage resulting from applying any of the information provided. Past performance is no guarantee of future results and no investment or financial planning strategy can guarantee profit or protection against losses. These materials may not be reproduced or distributed without Whittier’s prior written consent.

From Investments to Family Office to Trustee Services and more, we are your single-source solution.

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The last three years have produced some of the most extreme backdrops in the history of global economies and markets.  We were still in the midst of the longest expansion ever in the U.S. in 2019.  The only cloud on the horizon to disturb the calm back then was the question of when the cycle would eventually end.

We didn’t have to wait long for our answer as a global pandemic tore the world apart in early 2020.  The ensuing chaos was unprecedented as we experienced profound human pain and suffering and also the deepest and shortest recession ever.  Medical innovation and robust policy responses led us out of the abyss and into the remarkable post-Covid recovery of 2021.

Another new normal has emerged in the aftermath of the pandemic.  As we look ahead, we are in unchartered territory in terms of the anticipated decline in stimulus, the speed and nature of recent inflationary pressures, economic and profit growth sustainability, and the risk of reverting to the mean from elevated valuations.

Please join Sandip Bhagat, Whittier’s Chief Investment Officer,  as he discusses our outlook for the economy and markets in 2022.

Whittier Trust Company and The Whittier Trust Company of Nevada, Inc. are state-chartered trust companies, which are wholly owned by Whittier Holdings, Inc., a closely held holding company. All of said companies are referred to herein, individually and collectively, as “Whittier”. The accompanying materials are provided for informational purposes only and are not intended, and should not be construed, as investment, tax or legal advice. Please consult your own investment, legal and/or tax advisors in connection with financial decisions and before engaging in any financial transactions. These materials do not purport to be a complete statement of approaches, which may vary due to individual factors and circumstances. Although the information provided is carefully reviewed, Whittier makes no representations or warranties regarding the information provided and cannot be held responsible for any direct or incidental loss or damage resulting from applying any of the information provided. Past performance is no guarantee of future results and no investment or financial planning strategy can guarantee profit or protection against losses. These materials may not be reproduced or distributed without Whittier’s prior written consent.

From Investments to Family Office to Trustee Services and more, we are your single-source solution.

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A new economic cycle and bull market began about a year ago on the heels of a short-lived Covid recession. Buoyed by massive policy stimulus, economic growth has been strong, earnings growth has been stellar and stock market returns have been nothing short of spectacular.

As we approach an inflection point on fiscal and monetary policy, investors are now starting to focus on an anticipated deceleration of growth. Beyond this shift in stimulus, there are other concerns swirling in the market as well.

The proposed infrastructure package comes bundled with higher taxes that are generally restrictive for growth. The perennial debate over the debt ceiling is now front and center. Supply chain constraints may keep inflation high and raise the specter of stagflation. And the Delta variant of the coronavirus continues to circulate and slow down the pace of reopening.

We look at the topics of monetary tapering and tightening, fiscal cliff, higher taxes, debt ceiling and transitory inflation to answer one key question. Are these potential headwinds likely to become major disruptors of growth in the coming months? Or will they merely be distractions on a bumpy road to recovery? Join Sandip Bhagat, Whittier Trust’s Chief Investment Officer, as he discusses our perspectives and outlook.

Whittier Trust Company and The Whittier Trust Company of Nevada, Inc. are state-chartered trust companies, which are wholly owned by Whittier Holdings, Inc., a closely held holding company. All of said companies are referred to herein, individually and collectively, as “Whittier”. The accompanying materials are provided for informational purposes only and are not intended, and should not be construed, as investment, tax or legal advice. Please consult your own investment, legal and/or tax advisors in connection with financial decisions and before engaging in any financial transactions. These materials do not purport to be a complete statement of approaches, which may vary due to individual factors and circumstances. Although the information provided is carefully reviewed, Whittier makes no representations or warranties regarding the information provided and cannot be held responsible for any direct or incidental loss or damage resulting from applying any of the information provided. Past performance is no guarantee of future results and no investment or financial planning strategy can guarantee profit or protection against losses. These materials may not be reproduced or distributed without Whittier’s prior written consent.

From Investments to Family Office to Trustee Services and more, we are your single-source solution.

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When a family sells its business, the overlap between business and family can unearth unexpected challenges. Proactive succession planning that navigates best practices and costly pitfalls can keep both the business and the family on track. This webinar will highlight fundamental differences between preparing the business for a third-party sale and grooming it for a NextGen transition. Both approaches require time and planning to achieve the best outcomes. The paths are quite different, so knowing where your business is headed can make all the difference in the range of benefits your family receives after the transaction.

In this webinar, Whittier Trust’s Senior Vice President Matthew W. Markatos, CFA, and Vice President Elizabeth M. Anderson, CEPA, along with Family Business Magazine’s Publishing Director, David Shaw, cover the benefits and pain points of selling a family business and how waiting to prepare can be an unnecessary risk.

Whittier Trust Company and The Whittier Trust Company of Nevada, Inc. are state-chartered trust companies, which are wholly owned by Whittier Holdings, Inc., a closely held holding company. All of said companies are referred to herein, individually and collectively, as “Whittier”. The accompanying materials are provided for informational purposes only and are not intended, and should not be construed, as investment, tax or legal advice. Please consult your own investment, legal, and/or tax advisors in connection with financial decisions and before engaging in any financial transactions. These materials do not purport to be a complete statement of approaches, which may vary due to individual factors and circumstances. Although the information provided is carefully reviewed, Whittier makes no representations or warranties regarding the information provided and cannot be held responsible for any direct or incidental loss or damage resulting from applying any of the information provided. Past performance is no guarantee of future results and no investment or financial planning strategy can guarantee profit or protection against losses. These materials may not be reproduced or distributed without Whittier’s prior written consent.

From Investments to Family Office to Trustee Services and more, we are your single-source solution.

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Donor-advised funds are remarkably flexible and versatile. Learn how many of our clients – whether or not they consider themselves to be philanthropic – are employing DAFs to minimize their income tax burden, reduce family conflict, structure their charitable giving for greater impact, diversify assets while avoiding capital gains tax, teach their children positive values and financial literacy and make managing their foundations less stressful. What impact might pending policy changes have on this increasingly popular planning tool? Whittier Trust’s Pegine Grayson (SVP/Philanthropic Advisor) will be joined by GHJ Advisors’ Rajpal Gibson (Senior Tax Manager and High Net Worth Practice Leader) for this interactive discussion.

Whittier Trust Company and The Whittier Trust Company of Nevada, Inc. are state-chartered trust companies, which are wholly owned by Whittier Holdings, Inc., a closely held holding company. All of said companies are referred to herein, individually and collectively, as “Whittier”. The accompanying materials are provided for informational purposes only and are not intended, and should not be construed, as investment, tax or legal advice. Please consult your own investment, legal and/or tax advisors in connection with financial decisions and before engaging in any financial transactions. These materials do not purport to be a complete statement of approaches, which may vary due to individual factors and circumstances. Although the information provided is carefully reviewed, Whittier makes no representations or warranties regarding the information provided and cannot be held responsible for any direct or incidental loss or damage resulting from applying any of the information provided. Past performance is no guarantee of future results and no investment or financial planning strategy can guarantee profit or protection against losses. These materials may not be reproduced or distributed without Whittier’s prior written consent.

From Investments to Family Office to Trustee Services and more, we are your single-source solution.

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Family businesses often take on various functions on behalf of individual family members, including bill paying, household management, investment management, oversight of insurance procurement, and tax and legal matters. Personal insurance and the intersect between the business and the family often remains an overlooked component of a total risk profile.

This webinar will:

  • Highlight areas of opportunity to align personal insurance with the family’s needs.
  • Provide an overview of the personal insurance marketplace.
  • Raise awareness of common areas where successful families may be vulnerable.
  • Offer insight into how asset protection strategies and entities such as trusts and LLCs can be better managed within the context of insurance.

Join Kimberly Frasca-Delaney, Senior Vice President, Client Advisor at Whittier Trust; David Beeton, Private Risk Advisor and Assistant Vice President with the Private Client Group at Willis Towers Watson; and David Shaw, Publishing Director, Family Business Magazine, for a discussion of how families can use personal lines of insurance as a first line of defense.

This webinar is sponsored by Whittier Trust & Family Business Magazine.

Whittier Trust Company and The Whittier Trust Company of Nevada, Inc. are state-chartered trust companies, which are wholly owned by Whittier Holdings, Inc., a closely held holding company. All of said companies are referred to herein, individually and collectively, as “Whittier”. The accompanying materials are provided for informational purposes only and are not intended, and should not be construed, as investment, tax or legal advice. Please consult your own investment, legal and/or tax advisors in connection with financial decisions and before engaging in any financial transactions. These materials do not purport to be a complete statement of approaches, which may vary due to individual factors and circumstances. Although the information provided is carefully reviewed, Whittier makes no representations or warranties regarding the information provided and cannot be held responsible for any direct or incidental loss or damage resulting from applying any of the information provided. Past performance is no guarantee of future results and no investment or financial planning strategy can guarantee profit or protection against losses. These materials may not be reproduced or distributed without Whittier’s prior written consent.

From Investments to Family Office to Trustee Services and more, we are your single-source solution.

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Here’s an incentive to move estate planning to the top of your to-do list: The next few years are an opportunity to maximize wealth transfer to the next generation.

The Tax Cuts and Jobs Act of 2017 increased the federal gift and estate tax basic exclusion amount (BEA) to $11.58 million per individual, or $23.16 million per couple, adjusted for inflation. But this increase doesn’t last forever — and in 2025, the exclusion is, as of now, supposed to go back to 2018 levels.

“Under the current tax law, the BEA automatically revert back to $5 million (adjusted for inflation) on January 1, 2026,” said Thomas Frank, executive vice president and Northern California regional manager at Whittier Trust.

For those with estates valued in excess of the current $23.16 million per-couple exemption, it may make sense to consider making lifetime gifts now, before a possible drop, he added. Here’s why you should discuss the opportunity with your advisor—and how it can benefit you and your heirs.

The Current Law May Affect Your Estate

While the law may seem most germane to individuals who have estates in excess of $11 million ($22 million for couples), it’s also relevant for individuals who have estates in the $6 million to $11 million range (double that for couples). That’s because, if the BEA were to fall back in 2025, you may find yourself with an estate that is subject to taxation. Considering gifting now can be a smart strategy to ensure that your estate won’t be taxed upon your death.

Planning Now Gives You Time and Flexibility

“People often wait until the last minute, but it can be smart to start strategizing, even if you’re unsure of your gifting plans,” said Frank. Lifetime gifting may bring up additional complexities to explore.

Many states have their own estate tax laws, most with much lower exemption amounts, added Frank. So while an estate may be tax-free at the federal level, it may be subject to taxes at the state level. Getting your ducks in a row and assessing several “what if” scenarios about lifetime gifting allows you flexibility and time to make sure your plans make the most sense for you and your beneficiaries.

Don’t Fear the “Clawback”

When the BEA was increased, some individuals worried that the BEA would be “clawed back” if the exemption were to drop before the estate owner died. But IRS regulations clarify that the higher BEA will shield gifts made during this time period, regardless of the date of death.

“Moving assets out of an estate during lifetime not only removes the assets from estate taxation, it also removes any future appreciation on the assets from your taxable estate,” said Frank.

Stress-Test How Your Options Affect Your Heirs

As you consider lifetime gifting, it’s important to assess several strategies to figure out the option that makes the most sense for you and your heirs. The current law allows a “step up” in tax basis for all assets included in an estate. “The new basis becomes the value of the asset at the date of death, which helps heirs avoid capital gains taxes on appreciated assets upon the death of a benefactor,” said Frank. “Because of this, lifetime gifting of highly appreciated assets is discouraged.”

Since you can’t predict the future, it’s best to assess several gifting options now and weigh the pros and cons of each. In the case of highly appreciated assets, the cost of capital gains taxes may be more than your heirs would save on estate taxes. A professional can walk you through options to help you find the smartest strategy.

Consult the Pros with Questions

“I like to say, ‘Don’t try this at home,’” said Frank.

Your unique situation—the mix and allocation of assets in your estate and the laws in your state—will affect how wealth transfer occurs. And the best plan is to have a plan. Speaking with an attorney, accountant or financial professional can guide you through all aspects of the process, so there are no surprises—or unexpected tax bills—along the way.

Written in partnership with Forbes BrandVoice.

From Investments to Family Office to Trustee Services and more, we are your single-source solution.

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In the past decade, we have seen an unprecedented era of low market volatility and positive returns. Conversely, what goes up must come down. With the recent return to bear market territory and high volatility, now is an opportune time to consider wealth planning strategies for your family. Although market volatility can be unsettling for investors, this type of climate can also present estate planning opportunities. In fact, when markets enter into correction, there are several estate planning options that become more attractive.

In this webinar, you’ll learn how to:

  • Leverage gifts to avoid taxes
  • Structure your estate plan for maximum flexibility
  • Identify which planning tools are best in times of market volatility

Join Whittier Trust’s Victoria Kahn, Senior Vice President, Nevada Regional Manager, Nevada Office, and Barbara Spector, Editor-in-Chief and Associate Publisher of Family Business Magazine, as they discuss wealth planning strategies for your family in the face of volatile markets.

This webinar is sponsored by Whittier Trust & Family Business Magazine.

Whittier Trust Company and The Whittier Trust Company of Nevada, Inc. are state-chartered trust companies, which are wholly owned by Whittier Holdings, Inc., a closely held holding company. All of said companies are referred to herein, individually and collectively, as “Whittier”. The accompanying materials are provided for informational purposes only and are not intended, and should not be construed, as investment, tax or legal advice. Please consult your own investment, legal and/or tax advisors in connection with financial decisions and before engaging in any financial transactions. These materials do not purport to be a complete statement of approaches, which may vary due to individual factors and circumstances. Although the information provided is carefully reviewed, Whittier makes no representations or warranties regarding the information provided and cannot be held responsible for any direct or incidental loss or damage resulting from applying any of the information provided. Past performance is no guarantee of future results and no investment or financial planning strategy can guarantee profit or protection against losses. These materials may not be reproduced or distributed without Whittier’s prior written consent.
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From Investments to Family Office to Trustee Services and more, we are your single-source solution.

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