Navigating Key Components of Family & Estate Financial Planning
Zoe Financial
Zoe is the modern wealth planning platform that allows you to work with trusted advisors nationwide.
Critical components of your financial plan will most often include family planning, as well as equity management, small business strategies, and investment risk.
By Zoe Certified Advisor: Tony Assadi, CFA, CFP?
Home is where we raise our children, grow into adults, and care for our loved ones. When considering the property's future, it is imperative to temper your emotions and consider all courses of action to properly adjust to your estate planning.
As with all estate-related matters, it is prudent to contact your estate planning attorney to explore sensical options and, most importantly, to draft a staged plan which will take effect over the course of your life. Your financial situation and goals are unique to you and your family. The following strategies delineate the three primary means to address real estate assets when planning for the future. Gifting, Bequeathing, and Selling your home to an heir(s) or loved ones.
Equity Compensation: Tax Implications and Strategies
By Zoe Certified Advisor: Michael Holloway, CFP?
How do employers use retention tools to give their key employees “skin in the game”? One of the ways is offering company equity to promote loyalty and access. While the benefits of?equity compensation?can be significant, they can lead to unexpected tax consequences and make it challenging to fully understand your compensation package as an employee.
If you own equity, planning and managing it is key to your financial plan and should be one of your financial priorities. Ultimately, it will allow you to keep as much of your income as possible, while mitigating the risk of being overly concentrated. Having your skin in the game includes knowing how to play it. A helpful starting point is to look at some of the most common methods of equity compensation and understand how they may apply to you.
By Zoe Certified Advisor: Jacky L Petit-Homme, CFP?
It is no secret that investing in the stock market comes with inherent risk. Most retail investors today understand that risk comes with the territory. However, risk is a blanket term that covers numerous reasons why an investment may not perform as expected or provide an outcome as anticipated.?
There are copious amounts of risks that investors should consider when investing. However, one risk that is not often addressed, despite its prevalence in today’s world, is headline risk. I’m not referring to the risk when a publicly traded company or commodity suffers a sell-off due to a negative headline or news story. Instead, I’m speaking to the risk that every investor subjects themselves to when consuming their nightly news or reading their morning paper.?
By Zoe Certified Advisor: Alec Montoya, CPWA?, CFP?
As a business owner, it is important to periodically review your: legal structure, insurance coverage, tax situation, benefit offerings, and succession plan. This blog will review 5 questions to ask yourself and remain aware of critical areas of financial planning for your business.
1. What legal structure should my small business have? Whether your business is a side hustle or your full-time occupation, it is important to consider your legal structure. The structure of your business can impact taxation and personal liability.?
2. How can I manage risk for my small business??Your business may own valuable assets that you want to insure like real estate, equipment, and automobiles. It’s also important to review liability coverage, overhead insurance, and specialized lines of insurance related to your industry.
3. How do I avoid overpaying in taxes as a small business owner? Proactive tax planning is a must. It is easy to be caught off guard during tax season by an underpayment.?
4. What employee benefits should small businesses offer??Employee benefits can be a valuable form of compensation and offer tax benefits. Educating your staff about their benefit package can excite them and promote higher retention.
5. Do I have a succession plan??Your business is likely connected to your personal identity and financial success. It is important for your business to have a succession plan for death, incapacity, and retirement. Your succession plan should empower and position the new owner to continue the legacy you have built.
??Ask Andres, Zoe's Founder & CEO
With the market down, should I change my retirement plan?
Andres: "Usually, the concern when the markets were at all-time highs was it was hard to sell certain things because there were many capital gains. However, when the market is down, people are allowed to make shifts without triggering as many capital gains. So you can lock in some tax losses. From that perspective, the current market helps you position your portfolio to your goals without triggering the capital gains, like you would during all-time highs."?Listen to the full conversation.
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