Recorded on November 12, 2024
The event, introduced by John Crow, Regional Managing Director and President of Cresset Trust Company, centered on wealth strategies and estate planning in light of potential post-election tax changes. Cresset Managing Directors and Wealth Strategists, Richard Lowry and Michelle Chapin, stressed the importance of proactive year-end planning to prepare for possible shifts in tax and estate laws. They shared strategies to help affluent families protect assets, structure wealth transfers, and maximize tax efficiency, encouraging attendees to review estate plans, consider charitable giving options like charitable remainder trusts, and consult advisors ahead of possible legislative changes. The session underscored the value of flexible planning and Cresset’s commitment to supporting clients through complex financial landscapes.
Key Themes
- Proactive and Flexible Planning: Families were encouraged to remain adaptable and work closely with advisors to prepare for various policy outcomes, allowing them to optimize strategies in uncertain conditions.
- Post-Election Wealth Strategy: The strategists advised proactive planning due to potential shifts in tax laws, focusing on reviewing and adjusting current financial and estate plans.
- Tax Efficiency and Wealth Transfer: Emphasis was placed on utilizing trusts, charitable giving, and other tax-efficient strategies to safeguard wealth across generations.
