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Our planning fee pricing for income tax planning services is determined using a standardized matrix based on Net Worth, Income, and Meeting Frequency. This base planning fee price may be adjusted to account for increased complexity or the occurrence of a future income event. To project tax savings, we analyze prior year tax returns to determine their past tax liability to project out the following year’s tax liability. Based on facts collected and confirmed by the client, we then identify and evaluate applicable tax strategies and the estimated annual tax savings they would produce if implemented. The estimated annual tax savings are then divided by the annual engagement price proposed to/agreed to by the client to determine the multiple on estimated annual tax savings generated as it relates to the planning fees paid. Please note, these initial projections are preliminary and based on our current understanding of the client’s situation. Outcomes may vary based on client’s decisions or chosen course of action regarding the implementation of recommended strategies, their specific goals, and risk tolerance.
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Market Month in Review – April 2025
Centura Wealth Advisory’s October 2024 Market Month in Review discusses the current market changes and updates that have taken place.
Q1 2025 Market Wrap: You get a tariff. You get a tariff. Everybody gets a tariff!
The first quarter of 2025 was marked by heightened volatility across global markets, driven by escalating trade policies and shifting investor sentiment. The uncertainty related to tariff decisions, including surrounding President Trump’s “Liberation Day” tariff announcement on April 2, dominated sentiment over the quarter, causing both the S&P 500 and the Nasdaq 100 to enter […]
Long-Term Investing: Why Market Timing Fails and Diversification Wins
With Chris Osmond, Chief Investment Officer at Centura Wealth Advisory Investing in today’s market can feel overwhelming, especially when headlines highlight record market highs or economic downturns. But as Chris Osmond, Chief Investment Officer at Centura Wealth Advisory, emphasizes, the key to long-term wealth growth isn’t timing the market—it’s staying invested and diversifying effectively. The […]
Ep. 107 Navigating Post-Election Exemption Planning
What Post-Election Exemption Planning Means for Your Estate With the current federal estate tax exemption set to sunset at the end of 2025, high-net-worth individuals have a rare opportunity to optimize their wealth transfer strategies. In this episode of Live Life Liberated, host Bryan Schick is joined by Dan Stolfa, Senior Wealth Advisor and former […]
Advanced Gifting Strategies: Reducing Tax Burdens with Appreciated Assets
Wealth management isn’t just about accumulating assets; it’s also about ensuring they are used effectively to benefit you, your loved ones, and the causes you care about. Advanced gifting strategies, such as donating appreciated assets, offer a powerful way to reduce your tax burden while making a meaningful impact. By gifting assets like stocks, real […]
Market Month in Review – February 2025
Centura Wealth Advisory’s October 2024 Market Month in Review discusses the current market changes and updates that have taken place.
Ep. 106 The Power of Strategic Financial Planning
The Power of Strategic Financial Planning Success in financial planning isn’t just about making money—it’s about making the right decisions at the right time. As wealth grows, so does the complexity of managing it effectively. That’s why high-achieving professionals and business owners must level up their financial strategy and assemble the right advisory team. In […]
The Importance of Early Valuation for a Tax-Savvy Business Exit
When business owners decide it’s time to exit, whether through selling the company, merging with another entity, or transferring ownership, many of them focus primarily on maximizing the financial return. However, a well-planned exit strategy goes beyond simply receiving the best price—it requires careful consideration of the tax implications. One of the most effective ways […]
Market Month in Review – January 2025
Centura Wealth Advisory’s October 2024 Market Month in Review discusses the current market changes and updates that have taken place.
Q4 2024 Market Wrap: Is a Bear or Stock Market Three-Peat Coming in 2025?
Global markets saw significant developments in the fourth quarter of 2024, concluding a year marked by economic shifts, policy changes, and geopolitical events. The S&P 500 achieved 57 new all-time highs, delivering a remarkable annual gain of 25% and marking its strongest back-to-back performance since 1997/1998. In the fourth quarter, the “Trump Trade” returned in […]
Ep. 105: Are You Leaving Money on the Table? Unlock Wealth You Didn’t Know You Had
If you’re a high-net-worth individual or a business owner, there’s a good chance you might be missing out on significant tax savings. These opportunities, often hidden within the complexities of tax codes and financial strategies, could add up to millions—especially if you own real estate or operate a thriving business. So, how can you uncover […]
Market Month in Review – November 2024
Centura Wealth Advisory’s October 2024 Market Month in Review discusses the current market changes and updates that have taken place.
Ep. 104: How to Protect Wealth & Maximize Tax Efficiency for High-Net-Worth Families & Business Owners
In today’s unpredictable financial environment, high-net-worth families and business owners face unique challenges when it comes to protecting their wealth and maximizing tax efficiency. As markets fluctuate and tax laws evolve, finding strategies that both safeguard assets and optimize returns is paramount. This week on Live Life Liberated, Sean Clark, Partner at Centura Wealth Advisory, […]
Ep. 103: Grantor vs. Non-Grantor Trusts: Tax Strategies for Wealth Preservation
Trust planning can be overwhelming, especially with tax laws that seem to change constantly. But understanding the ins and outs of grantor and non-grantor trusts is key to making smart decisions about your wealth and legacy. In this episode of the Live Life Liberated podcast, Kyle Malmstrom from Centura Wealth Advisory and Adam Buchwalter from […]
Market Month in Review – October 2024
Centura Wealth Advisory’s October 2024 Market Month in Review discusses the current market changes and updates that have taken place.
Ep. 102: From Planning to Profit: The Centura Wealth Approach
Managing significant wealth comes with complexities that go beyond basic financial planning. For ultra-high-net-worth families—those with a net worth of $20 million or more and annual incomes exceeding $2 million—building a lasting legacy requires a strategic and personalized approach. At Centura Wealth Advisory, Derek Myron and Sean Clark specialize in crafting solutions tailored to the […]
Ep. 101: The Leadership Approach Driving Centura’s Success
What’s the secret to cultivating a workplace where people are empowered, engaged, and driven to succeed? At Centura Wealth Advisory, it all starts with a commitment to core values and a leadership approach rooted in trust and open communication. Krystal Puryear, SHRM-CP, Director of People and Culture, and Nicole Hubbs, Talent Acquisition Specialist, share how […]
Q3 2024 MARKET WRAP: Despite Hurdles, The Hot Streak Continues
Markets in the summer months are historically sleepy as individuals go on vacation and gear up for a new school year, but the third quarter brought anything but sleep to investors worldwide. Equities were marred with bouts of negative activity throughout the quarter – markets experienced a historic 180% surge in the VIX to an […]
Ep 100: How a Fractional CFO Can Elevate Your Wealth Strategy
Managing a successful business requires more than just revenue growth—it demands strategic financial oversight, tax optimization, and precise estate planning. If you are not fully capitalizing on your business’s financial strategy, you could be missing out on significant opportunities. That is why Live Life Liberated is celebrating its 100th episode with a value-packed discussion. In […]
Ep 99: Is Your Business Missing Out on Thousands in Tax Savings?
Many small business owners miss out on significant tax savings each year simply because they’re unaware of certain deductions. One of the most overlooked opportunities is the Qualified Business Income (QBI) deduction. This powerful tax break, introduced in the 2017 Tax Cuts and Jobs Act, allows eligible business owners to deduct up to 20% of […]
Centura’s Company Culture: Hear From Our Team
At Centura, we’re proud of our team and company culture. Why?
Everyone on our team has their own North Star. They center around serving our clients, our community, and their aspirations.
Ep. 98 Investing in Multifamily Real Estate with Rob Ireland
Why Multifamily Real Estate Is a Smart Investment Multifamily real estate has long been recognized as a resilient and potentially lucrative asset class. In a recent episode of Live Life Liberated, Chris Osmond, CFA, CAIA®, CFP®, Chief Investment Officer at Centura Wealth Advisory, sat down with Rob Ireland, Managing Director at Continental Realty Assets (CRA), […]
Q2 2024 Market Wrap: Dependency Issues
After rising more than 10% in the first quarter of 2024, the S&P 500 stumbled out of the gate in the second quarter. The index contracted more than 4% in April and produced the first negative month of the year as the market reassessed the timing of the Fed’s first rate cut.
Ep. 97 Working With Centura: Candid Feedback From Our Client Charlie Neer
A Personal Wealth Management Journey Charlie Neer, Chief Revenue Officer (US) at MiQ, has navigated a transformative financial journey over the past two years as a client of Centura Wealth Advisory. In a candid conversation with Centura’s Managing Director, Derek Myron, Charlie shares his experiences, lessons learned, and how his financial strategy is now more […]
Ep. 96 Exit Readiness: How to Prepare Your Business for Sale
Many business owners assume they are five years away from selling their company. The problem? That five-year window often remains constant, year after year. Without proper planning, the timeline for exit can keep getting pushed back until it’s too late to maximize value and ensure a smooth transition. In a recent episode of the Live […]
NIM-CRUT: Sophisticated Charitable Giving Strategies for High-Net-Worth Individuals
NIMCRUTs, or Net Income with Makeup Charitable Remainder Unitrusts, are advanced charitable giving strategies designed specifically for high-net-worth individuals. These trusts allow donors to make significant charitable contributions while also providing a stream of income for themselves or their beneficiaries. NIMCRUTs offer a number of benefits, including tax advantages, potential for increased income, and the ability to support favorite causes while also meeting financial goals.
In this blog, we will explain what NIMCRUTs are, how they have evolved over time, and how high-net-worth individuals (HNWIs) can use them as part of their financial planning.
What are NIMCRUTs?
A Net Income Makeup Charitable Remainder Unitrust (NIMCRUT) is a charitable trust that allows an individual(s) to make a donation while receiving an income from the trust for a specified number of years or for the lifetime of the individual(s).
The income received by the individual(s) is based on the net income generated by the trust, usually from investments in a diverse portfolio of assets. At the end of the trust term, the remaining assets are distributed to the charities determined by the donor. We’ll get more into the benefits of NIMCRUTs in a second, but let’s first look at how Charitable Trusts came to be.
A Historical Legislative Landscape for Charitable Giving
Knowing how Charitable Trusts have been shaped by legislation over the years will give you a better understanding of NIMCRUTs and how to receive the best tax benefits.
Tax Reform Act of 1969: The first national policy on charitable planned giving is created.
Revenue Rule 77374 (1977): The probability test for charitable remainder annuity trusts is established. There now has to be less than a 5% probability that you’re going to exhaust the initial capital contribution.
Tax Relief Act of 1997: A maximum payout rate of 50% is established, as well as a 10% minimum remainder requirement.
Tax Relief Healthcare Act of 2006: A Charitable Remainder Trust (CRT) will no longer lose its tax-exempt status for having an unrelated business taxable income (UBTI) in the trust. However, there is now a 100% excise tax on the UBTI in the trust.
Knowing the rules that have been established over the years for Charitable Trusts will allow you to get the most out of their benefits while also being aware of potential pitfalls.
How High-Net-Worth-Individuals Can Utilize NIMCRUTs To Save Money
One of the most valuable features of a Net Income with Makeup Charitable Remainder Unitrust (NIMCRUT) is its ability to facilitate tax-free growth of funds over a set period or lifetime. This characteristic sets NIMCRUTs apart from simple Charitable Remainder Unitrusts (CRUTs), and may make them particularly attractive to certain individuals due to the added benefit of a “makeup” feature.
What is the NIM-CRUT Makeup Feature?
With a NIMCRUT, if the trust produces more income than it’s supposed to pay out, the excess money will go back into the trust’s principal. Likewise, if the trust produces less income than it’s supposed to pay out, the beneficiaries may receive less money that year but will have it “made up” to them from an excess year. This feature can lead to the same amount of income over time but without ever attacking the principal. With a CRUT, no matter what kind of year the trust has financially, you’re getting the same amount which can lead to the trust’s principal decreasing gradually.
Donating assets to a Net Income with Makeup Charitable Remainder Unitrust (NIMCRUT) can be a beneficial way to reduce taxable income and avoid capital gains tax. By contributing assets to the trust, an individual is able to diversify their holdings while also mitigating the risk associated with certain types of assets, such as stocks or real estate. This approach to charitable giving allows individuals to make significant donations while also receiving favorable tax treatment and potentially enhancing their financial situation. It is important to note that the specific tax implications of donating to a NIMCRUT will vary based on individual circumstances and the laws governing charitable giving in the donor’s jurisdiction.
It’s important to consult with trusted and professional financial planners when setting up a NIMCRUT as there are potential benefits and drawbacks that should be evaluated with expertise before making a decision.
Connect With Centura
At Centura Wealth Advisory, we go beyond a traditional multi-family office wealth management firm to offer advanced tax and estate planning solutions which traditional wealth managers often lack in expertise, knowledge, or resources to offer their clients.
We invest heavily into technology and systems to provide our clients with fully transparent reporting and tools to make informed decisions around their wealth plan.
Read on to learn more about our 5-Step Liberated Wealth Process and how Centura can help you liberate your wealth.
Disclosures
Centura Wealth does not make any representations as to the accuracy, timeliness, suitability, or completeness of any information prepared by any unaffiliated third party, whether linked to or incorporated herein. All such information is provided solely for convenience purposes and all users thereof should be guided accordingly.
We are neither your attorneys nor your accountants and no portion of this material should be interpreted by you as legal, accounting, or tax advice. We recommend that you seek the advice of a qualified attorney and accountant.
For additional information about Centura, please request our disclosure brochure as set forth on Form ADV using the contact information set forth herein, or refer to the Investment Adviser Public Disclosure website (www.adviserinfo.sec.gov). Please read the disclosure statement carefully before you engage our firm for advisory services.
Ep. 95 Understanding Alternative Investments: Why You Should Look Beyond Stocks and Bonds
Expanding Your Investment Horizons Alternative investments offer significant opportunities for superior risk-adjusted returns and portfolio diversification. Yet, many high-net-worth investors find their portfolios under-allocated to these assets. In Episode 95 of the Live Life Liberated podcast, Chris Osmond, CFA, CAIA®, CFP®, Chief Investment Officer at Centura Wealth Advisory, shares insights on the role of alternative […]
Ep. 94 How to Lower Your Capital Gains Taxes with Adam Buchwalter
Navigating State Taxes on Capital Gains For high-net-worth individuals, founder-led business owners, and C-level executives, managing capital gains taxes is a crucial component of wealth preservation. In this episode of Live Life Liberated, Centura Wealth Advisory’s Managing Director, Derek Myron, speaks with Adam Buchwalter, Partner at Wilson Elser, about the intricacies of state-level capital gains […]
Q1 2024 Market Wrap: Equities Keep the Good Times Rolling
After experiencing zero in 2023, the S&P 500 took more than two years before making a new all-time high. Fast forward to the end of the first quarter, witnessing the S&P 500 march its way to 22 new all-time high levels, on pace for the most ever.
Ep. 93 Our Proprietary Liberated Wealth® Process for Ultra-High-Net-Worth Clients
Unlocking Exponential Results with Centura Wealth Advisory Navigating wealth management as an ultra-high-net-worth individual requires a sophisticated, proactive approach that delivers exponential financial results. Centura Wealth Advisory’s Liberated Wealth® Process is a five-step, structured journey designed to help founder-led business owners, C-level executives, and other high-net-worth individuals optimize their financial strategies while preserving and growing […]
Ep. 92 How High-Income Business Owners Can Supercharge Their Retirement Savings
How Can High-Income Business Owners Supercharge Their Retirement Savings? Business owners with significant surplus cash flow often seek ways to maximize their retirement savings while minimizing tax burdens. Traditional retirement plans like 401(k)s and SEP IRAs offer tax deferral, but they come with contribution limits that may not fully utilize the financial potential of high-income […]
Ep. 91 Effective Use Cases of Life Insurance for Wealth Transfer, Tax Planning, and More
Life insurance is often viewed as a way to provide a death benefit. However, for high-net-worth individuals and business owners, life insurance can serve as a strategic financial tool for tax planning, and wealth transfer, and even as an alternative investment. In this episode of the Live Life Liberated podcast, Centura Wealth Advisory’s Sean Clark, […]
Ep. 90 Tax Countdown: Planning for the Expiration of the TCJA
In 2017, the Tax Cuts and Jobs Act (TCJA) introduced major changes to income and estate tax laws, offering tax cuts and adjustments that have shaped financial planning for high-net-worth individuals and business owners. However, these provisions are set to expire on December 31, 2025, which could result in higher tax rates and reduced exemptions. […]
Q4 2023 Market Wrap: the US Avoided a Recession in 2023
With so much uncertainty surrounding the Fed’s monetary policy and the contagious effects their aggressive rate hiking cycle would inflict on the economy, we entered 2023 with great pessimism and uncertainty.
Ep. 89 How to Plan for the Looming Estate Tax Issue
The Tax Cuts and Jobs Act (TCJA) significantly increased estate and gift tax exemptions, offering relief for high-net-worth families. However, with the law set to sunset on December 31, 2025, the exemption will be cut in half—exposing many more estates to a 40% tax rate on assets above the threshold. In this episode of Live […]
Ep. 88 Unbundling Financial Services and Maximizing Value for High-Net-Worth Individuals
The financial services industry has undergone a major transformation, shifting from commission-based models to fee-based Registered Investment Advisors (RIAs). While this change aimed to align client and advisor interests, it also led to the bundling of investment management with financial planning—raising the question: Are clients actually getting maximum value from bundled services? In this episode […]
Ep. 87 Investing Amidst Uncertainty: A 2024 Election Discussion with Michael Townsend
With the 2024 U.S. presidential election approaching, investors are facing increased market uncertainty. Geopolitical tensions, potential tax law changes, and congressional instability—including the ousting of the Speaker of the House and the risk of a government shutdown—are all adding to the complexity. In this episode of Live Life Liberated, Matt Griffith, CFP®, Senior Wealth Advisor, […]
Ep. 86 Keys to Building an Amazing Corporate Culture and a Rockstar Team
Fostering a Thriving Corporate Culture in a Hybrid World With hybrid work environments becoming the norm, many companies struggle to maintain a strong culture, attract top talent, and build cohesive, high-performing teams. At Centura Wealth Advisory, we have implemented innovative strategies to create an engaging, supportive, and productive workplace—whether employees are in San Diego or […]
Ep. 85 How Centura Creates Value for High-Net-Worth Individuals
As wealth increases, financial planning needs become more complex. Centura Wealth Advisory (Centura) specializes in serving high-net-worth and ultra-high-net-worth individuals, helping them optimize taxes, protect assets, and structure their wealth efficiently. In this episode of the Live Life Liberated podcast, Kyle Malmstrom and Sean Clark, MBA, share insights into Centura’s Liberated Wealth® process and discuss […]
Top Mistakes Wealthy Families Make in Estate Planning
Preserving and transferring wealth across generations is a significant concern for affluent families. The desire to pass down as much of one’s hard-earned assets as possible while minimizing tax burdens is a universal goal. Achieving this goal, however, requires strategic guidance, expert knowledge, and a comprehensive overview of all assets and goals.
Market Wrap: Anyone For a Game of Tug-of-War?
For the past several quarters, the market has seemingly ignored communications from the Fed, particularly the point that interest rates will continue to rise and remain elevated for as long as it takes to restore inflation to their 2% target. This trend persisted up until August in the aftermath of Chairman Powell’s Jackson Hole speech and the subsequent September Federal Open Market Committee (FOMC) meeting.
Ep. 84 Delivering Exponential Client Value via Joint Casework with Gregg Gottlieb
The Power of Joint Casework in Wealth Advisory Advisors, are you looking to deliver exceptional value to your high-net-worth clients? The wealth management landscape is evolving, and collaboration is proving to be a key driver of success. In this episode of Live Life Liberated, Samantha Lawrence, CFP®, Associate Advisor at Centura Wealth Advisory (Centura), speaks […]
ING Trusts and IRS Scrutiny: Risk Vs Benefit
ING trusts, also known as Incomplete Non-Grantor trusts, have gained popularity as a tax planning strategy for high-net-worth individuals. These trusts offer significant benefits, but recent scrutiny from the IRS and state tax authorities has raised concerns about potential risks.
Ep. 83 ING Trusts: How to Minimize State Income Taxes
The Power of an ING Trust: Reducing State Income Taxes For high-net-worth individuals living in high-tax states, state income taxes can be a significant financial burden. However, there is a way to lower these taxes without physically moving: an Incomplete Non-Grantor (ING) Trust. In episode 83 of Live Life Liberated, Centura Wealth Advisory’s Kyle Malmstrom […]
Ep. 82 The QPRT Strategy: How to Reduce Estate and Gift Taxes
When planning to pass wealth to future generations, minimizing estate and gift taxes is a key consideration. One strategy that offers significant tax advantages is the Qualified Personal Residence Trust (QPRT). In this episode of Live Life Liberated, Seth Meisler, CFA, CFP®, CPA/PFS, MBA, and Samantha Lawrence, CFP®, discuss how the QPRT strategy works, its […]
Private Fiduciaries and Their Role in Estate Planning
Private fiduciaries can play a critical role in managing and protecting the assets of their clients. They also help ensure that their clients’ wishes are carried out after they are gone and their assets reach their desired beneficiaries.
QPRT Trusts and Gift Tax Efficiency: Transferring Real Estate with Reduced Tax Implications
Transferring real estate to future generations can be a complex process, often accompanied by significant tax implications. However, with careful planning and the right strategy, you can minimize the estate tax burden and efficiently pass on your real estate assets to your loved ones. One effective tool for achieving this goal is the Qualified Personal Residence Trust (QPRT).
Ep. 81 How to Achieve Tax Efficiency With Private Placement Life Insurance With Chris Hyman
Understanding Private Placement Life Insurance (PPLI) for High-Net-Worth Individuals For high-net-worth and ultra-high-net-worth individuals, protecting and growing wealth while minimizing taxes is a key priority. However, not all assets generate tax-efficient income, making tax planning strategies essential. One such strategy is Private Placement Life Insurance (PPLI), which offers tax efficiency, flexibility, and investment customization. In […]
ING Trusts: Control Your Assets and Minimize Income and Estate Taxes
When it comes to estate planning, one of the key considerations for many individuals is how to retain control over their assets while minimizing the burden of estate taxes. ING Trusts offer a compelling solution that allows you to achieve both objectives.
Market Wrap: The Magnificent Seven Push Markets Higher
Move over, FAANG! The Magnificent Seven have taken over the markets. Representing the seven largest companies in the S&P 500, Alphabet, Apple, Meta, Microsoft, Amazon, Tesla, and Nvidia have been anointed by investors as leading the market and tech rally. The first half of 2023 was powered by mega-tech stocks, with the rest of the […]
PPLI vs. Traditional Life Insurance: What’s the Difference?
Life insurance is an important consideration when it comes to securing your family’s financial future.
Centura’s Managing Director, Derek Myron, Featured in San Diego Business Journal’s Wealth Management Roundtable
San Diego, CA – Centura is proud to announce that Derek Myron, the company’s Managing Director, was featured in the recent wealth management roundtable organized by the San Diego Business Journal (SDBJ).
Private Placement Life Insurance (PPLI)
PPLI is an elegant type of variable life insurance contract that leverages the tax advantages of traditional coverage and provides access to a wider array of investment options. If structured properly, funds may be allocated across a highly customized pool of investments.
The Role of PPLI in Tax-Efficient Financial Planning
Private Placement Life Insurance (PPLI) is a financial tool that offers unique benefits for high net worth individuals. PPLI is a form of life insurance designed for accredited investors and qualified purchasers, providing a broad range of investment options with significant tax advantages.
Diversification: A Key Strategy for Mitigating Risk in Your Portfolio
Investing in the stock market can be an exciting and rewarding experience, but it can also be unpredictable and risky. One way to mitigate risk is to have a diversified portfolio, which means investing in a variety of different assets to spread out risk.
Holistic Planning for High Net Worth Individuals and Families
Financial planning is crucial for individuals and families with high net worth. These individuals often have complex financial situations that require specialized expertise to manage effectively.
How Centura Wealth Creates Exponential Value for Our Clients
Exponential value, as we define it, is the concept of taking two things and creating synergies that result in something greater than the sum of its parts. In other words, 1+1=4. We believe that tax planning is one of the best ways to create exponential value for our clients.
Market Update: Banking Sector Continues to Navigate Choppy Waters
Over the last 6 weeks, we’ve experienced 3 of the 4 largest US Bank failures in history, with First Republic Bank the being most recent domino to fall.
2023 Updates to Gift Tax and Other Estate Limitations
Our tax system has two critical components that impact the transfer of wealth from one generation to the next: gift tax and estate tax.
Market Wrap: The Fed Brings the ‘Pain’ to Banks
According to the Wall Street Journal, in the days following SVB’s collapse, the 25 biggest US banks gained $120 billion in deposits. Small banks experienced $108 billion in outflows over the same period, resulting in the largest weekly deposit decline for small banks on record.
Cut Your Tax Bill: How to Navigate the Cap on SALT Deductions
The Tax Cuts and Jobs Act of 2017 brought significant changes to the US tax code, including a cap on state and local tax (SALT) deductions. This cap, also known as the SALT deduction limitation, has left many taxpayers looking for ways to reduce their tax bills.
2023 Tax Updates and Deadlines You Need to Know
Tracking tax deadlines is essential to healthy financial management.
Section 1202: How Business Owners Can Save Millions of Dollars in Taxes
Section 1202 of the IRS code can potentially save eligible business owners millions of dollars in taxes. However, it is an underutilized section as few business owners know how to successfully implement this strategy.
Estate Planning 101: What You Need to Know
Estate planning is a crucial process that helps individuals to manage and distribute their assets in the event of death or incapacitation.
Ep 71: Inside Centura’s Elite Advisor Collaboration Program
At Centura Wealth Advisory, we believe that collaboration is key to achieving financial success for their clients. In Episode 71 of our podcast, Live Life Liberated, we discussed our new program, the Elite Advisor Collaboration Program (EACP), which aims to help financial advisors achieve success by collaborating with other top-tier professionals. Collaborating for Success EACP […]
Ep. 70: Everything You Need to Know about Pass-Through Entities
Pass-through entities are a popular business structure for small business owners that allow profits and losses to pass through to the owners’ personal tax returns instead of being taxed at the corporate level. In Episode 70 of the Live Life Liberated podcast, Chuck Levun, a tax and business attorney with Levun, Goodman and Cohen, shares […]
Ep. 69:The Importance of Passion and Professional Help in Starting a Business
Starting a business can be both exciting and challenging. Many entrepreneurs start their businesses out of passion, hoping to create something new, solve a problem or fill a gap in the market. However, passion alone is not enough to ensure the success of a business. A range of skills, including effective communication, problem-solving, and financial […]
The SECURE 2.0 Act: What These Changes Mean for Taxpayers
On December 23, 2022, we received a gift from Congress. A 4,000 page bill called the Consolidated Appropriations Act of 2023. Inside this bill is what is now being called the “SECURE 2.0 Act” (SECURE 2.0). In 2019, the SECURE Act, also known as the Setting Every Community Up for Retirement Enhancement, made significant changes to IRAs and retirement plans.
5 Steps to Support Sophisticated Wealth Management
Sophisticated wealth management is a term used to describe financial planning and investment strategies that are tailored to the unique needs and objectives of high net worth individuals. This type of wealth management typically involves a holistic approach that considers the client’s entire financial picture, including their investments, taxes, estate planning, and other financial matters.
How to Elevate Your Advisory: a Guide for Financial Planner and Wealth Advisors
As a financial planner or wealth advisor, you know planning the future of the firm is essential for long-term success.
How to Seek Greater Returns in a Risky Environment
In the current risky environment –with inflation and interest rates on the rise– we are often asked by clients, “How do we manage risk? How will these changes impact our portfolios? Why are these changes happening?”
At Centura, we use alternative investments and believe in taking an institutional approach to our asset allocation. In this challenging market, we guide our clients towards alternative investments such as private real estate, private equity and private credit.
How Does Real Estate Fit into Your Financial Plan?
For many, real estate investing plays a significant role in achieving personal financial goals—and can be a crucial component of one’s long-term financial strategies. This considered, real estate is likely a factor you’ve considered when developing your financial plan.
So, how might real estate fit into your financial plan? Let’s discuss.
Tax Deductible Donations: Rules of Giving to Charity
Donating to charity carries many benefits for taxpayers, such as allowing people to connect with a personal cause and preserve legacy–and it doesn’t hurt that donating to charity can lower your tax bill.
If donating to a charity is part of your tax plan, here are a couple of tips so you can maximize your tax-deductible donation before year-end.
Selling Your Business: Navigating Taxes and What to do Next
During the process of selling a business, owners have many obstacles to navigate: processes, taxes, and, of course, deciding what to do next.
In this article, we’ll discuss the different types of taxes a business owner may encounter when selling their business, as well as options for how to invest the proceeds.
Who Am I Missing on My Team to Sell My Business?
As you start thinking about the process of selling your business, compare this process to a game of baseball. Where do all pick-up baseball games start? With picking your team.
So, captain, who’s your first pick?
Insider Tips From High-Level Financial Advisors
With rising interest rates and inflation reaching a 40-year high, investors, planners and affluent individuals are searching for solutions to create financial strategies to meet their goals.
Sophisticated Charitable Giving Strategies for Affluent Individuals
Affluent individuals and families may choose to implement charitable giving strategies for the wealth of benefits these strategies provide.
Five Reasons Why Holistic Planning Is Important
Wealth management combines various financial services to consult and address the needs of affluent individuals.
Holistic financial planning considers the big picture of an individual’s finances while including both short and long-term goals.
Why American Investors Should Invest in India’s Economy
With rapid growth across the economy and innovations in manufacturing, digital and information technology, India is proving to be an exciting investment for American investors. Additionally, India is home to a rapidly growing economy, the largest youth population in the world, and rising global competitiveness.
Using Private Credit to Hedge Against Rising Interest Rates
As the Federal Reserve continues its process of quantitative tightening, many investors are concerned about rising interest rates and inflation. Opportunities in private credit can help investors hedge against these risks.
First, let’s discuss the process of quantitative tightening and what these changes mean for investors.
Why Investors Use Multifamily Real Estate as a Hedge Against Inflation
With inflation reaching 40-year highs, investors are eager to find investments to hedge against the decreasing value of their money. Multifamily real estate can provide opportunities for investors to protect themselves against their declining purchasing power.
What is a Charitable Lead Annuity Trust (CLAT)?
Taxpayers, especially high-net-worth individuals, commonly experience the issues of high-income taxes and wealth transfer taxes in their financial planning.
How to Plan and Invest in a Rising Interest Rate Environment
At Centura, we are dedicated to our role as stewards in leading our clients to purposeful financial planning and investing strategies to ensure their success.
The Importance of Systems and Processes in Financial Management
Financial management is a process by which an individual or an organization organizes and enhances its financial situation through strategies such as investment management, retirement planning and tax planning.
Strategies For Managing a Concentrated Stock Position
At Centura, we are dedicated to providing superior risk-adjusted returns and employing passive, active, and alternative investment strategies in our portfolio designs for our clients.
How Do You Calculate Your Net Worth?
Net worth goes beyond searching for your favorite artists, musicians, and authors on Google to see how financially liberated they are. Hypothetically speaking, any individual could calculate their own net worth by counting their assets, debts, and liabilities.
Your Retirement Checklist: Elements to Consider
At Centura Wealth Advisory, stewardship is at the core of everything we do. We believe in partnering with our clients to liberate their wealth management process. Part of our role as stewards is walking our clients through the entire financial planning process, from the present day to the coming years.
Four Methods for a Successful Succession Planning Strategy
The general lifecycle of a business typically follows a few different stages. These stages include start-up, development and establishment, and finally maturity. As a business owner, once you’ve reached the maturity stage of your business, you are likely considering what the future of your company holds.
What will happen to your company when you retire?
What is the Relationship Between an Accountant and a Financial Advisor?
As you look to achieve your financial goals, you may be considering working with a financial advisor or an accountant. Depending on your financial needs and goals, you may need both. So, what is the difference between the two, and when do you need to enlist the help of each?
How Centura Supports Goals-Based Investing
In today’s world, the amount of information an individual has access to is endless. With that being said, it can be challenging to navigate the world of wealth management. With ever-changing market cycles and fluctuations, it’s important to understand your financial goals and how they will guide your portfolio.
Keys to a Successful M&A
A merger or acquisition (M&A) can have a huge impact on your business, regardless of if you are the seller or the buyer. Mergers and acquisitions can offer business owners the opportunity to create more value for their business, expanding beyond what they could do alone. The process of merging or acquiring a company, however, can be a lengthy, complicated process.
Exit Planning vs Succession Planning vs Legacy Planning: What’s the difference?
The terms succession planning and exit planning are sometimes used interchangeably. At the same time, legacy planning is a part of succession and exit planning strategies but can be addressed on its own for those high-net-worth individuals (HNWIs) who are not also business owners. While succession, legacy, and exit plans require care and attention, there are some important differences.
5 Steps: The Liberated Wealth Process®
Our tax planning generally starts with your existing baseline. After a comprehensive review, we illustrate and synthesize the complexities of your tax profile into sophisticated options. Our goal is to reduce your tax burden and drive meaningful outcomes for you, your family and friends, and charitable organizations.
How to Optimize Your Retirement Plan
Part of our role as stewards to our clients is walking them through the entire financial planning process, from present-day to the coming years. One of the main areas we address with our clients is optimizing their retirement plans.
An Insider’s Guide to Tax Deductions
As far as deductions go, it’s important to be aware that half the cost of your 1040 form can be deducted if you are a sole proprietor (an unincorporated business owned and run by one individual).
Up and Coming Technology for Wealth Advisors
The big wirehouses have access to behemoths of technology that supports wealth advisors; however, they can lose the personal touch and the collaboration that a wealth advisory might offer. These technology systems require intense customization and onboarding, which can be difficult to handle on your own.
How Our Advisors Bring Value and Expertise to Our Clients
When client goals are addressed and discussed thoroughly from the beginning, then the process of managing their wealth becomes a collaboration. So, what does our typical client look like, and how do we separate ourselves from other wealth advisories?
Why Stewardship is at the Core of Everything We Do
There are studies that show that overall, clients want more communication. Over time, there has been a shift in expectations for the relationship between wealth advisor and client— the expectation is hearing from your advisor four times a year.
Finding Your North Star
We view our role— both as advisors and employers— to facilitate purposeful meaning in both your finances and in your life. Kyle Malstrom goes on to say, “Our job [as advisors] is also as a life coach, in which we help people understand how to achieve their goals and the best way to get there.”
ESOPs vs. Third Party Sale – What’s the difference?
The advantages of choosing to implement Employee Stock Ownership (ESOP) as a part of your exit plan, vs. selling your company to an outside entity depends on your specific situation.
Estate Tax: What to Expect from Upcoming Changes
Estate Tax is a tax on your right to transfer property at your death. When our first article was written, there were very few taxpayers that encountered the Estate Tax because the exemption level was at an all-time high.
Five Questions to Ask Your Financial Planner
Have you ever asked your financial planner, “What’s your company culture like?” If you’re new to financial planning, it can be difficult to know what questions to start with—even if you’re not new to planning, this is true. Here are five questions to ask your financial planner at your next meeting.
How Intention Influences Financial Planning
One example of intention influencing financial planning is succession planning and inheritance. The intention behind financial planning is to set up your family members for success and provide for future generations. Since there is a passion for protecting your loved ones, the intention fuels the fire of financial planning.
Seeking the Best: An Inside Look at Centura’s #1 Asset
As an advisory, we believe in encouraging people to be their authentic selves and motivating them to achieve their North Star, or the legacy they want to leave behind. The North Star is a bearing point in someone’s journey. It embodies our client’s goals, values, and purpose for their life and wealth.
How to Speak with Aging Family Members About Wealth and Inheritance
The Los Angeles Times reported that “about $36 trillion will flow from one generation to another over the next 30 years.”
This is a huge sum of inheritance to manage, and the conversations leading up to receiving said inheritance might feel uncomfortable or morbid. but they don’t have to feel this way.
How Does Centura Wealth Create Energy?
At Centura Wealth Advisory, we believe in providing our clients with full transparency. In an effort to display this value, we’ve decided to give you a little insight into who our team is. Recently, Centura Wealth has dedicated time to improve its employees’ lives outside of work through encouraging journaling, meditation, appreciation for others, and so on. Hear from our very own Centura Wealth employees about how these practices create energy in the workplace!
Wealth Manager vs. Financial Advisor: What’s the difference?
While the terms “wealth manager” and “financial advisor” may be grouped together or used interchangeably, the two professions actually have quite a few significant differences. Individuals looking for assistance in their financial planning should be familiar with these differences to find the best professional help for them and their financial situation.
How to Sustain Wealth in an Ever-Changing Market
Unique opportunities can include emotional investing that can happen with trends and quick reactions. But there are ways to implement room for risk and create a diverse portfolio that can sustain for generations.
Generational Wealth: Transform Your Strategy to Make It Last
Careful stewardship of generational wealth goes beyond simple preservation and moves squarely into optimization and growth of existing assets. To preserve can mean to lose. IF traditions impede progress, preservation is counter-intuitive. How will you be the steward of your family’s generational wealth? This is also related to financial planning and creating a bulletproof retirement plan with our trusted wealth advisors.
Should You Consider Adding Structured Notes to Your Portfolio?
Professionals have compared structured notes to the innovative mindset behind mutual funds—with the main draw being zero interest rates. In the past, structured notes were a high-risk, high-return investment that only very wealthy investors could get involved in. Recently, however, the transition to using more technology for investing has opened the door for more individuals and families to invest using structured notes.
Meet Centura: Not Your Traditional Wealth Advisors
Centura Wealth Advisory deviates from the traditional standards of everyday wealth advisories. Our main focus as a wealth advisor is to liberate your wealth, creating an independent advisory firm that goes above and beyond traditional money management. We aspire to bring only the best value-added solutions to our clients; not be all things to all people.
Get Ahead of The Curve: Year-End Financial Planning
Trust us, it’s never too early to start year-end planning. Centura Wealth Advisory believes that there are ways to liberate your wealth—that process can be made possible through financial planning.
The Complexity of Inherited Wealth
There are psychological and logistic reasons for the overwhelming feeling of inheriting wealth. Even though it is an increasingly common event, this is a topic that is rarely talked about.
How Do I Prepare to Sell My Business?
While there are many risks to owning a business, there are many reasons why you might be considering selling. Whether you are retiring, moving, or seeking new opportunities, here are some steps you can take to make this process as easy as possible.
How to Liberate your Wealth: A Deeper Look
Planning is a multi-step process that is tedious but essential to moving forward in your wealth. It’s easy to be disorganized financially, that’s where we step in. Centura Wealth helps you create order and organization, and most importantly — peace of mind.
How increased charitable giving can improve your bottom line
Liberating your wealth is achieved with a multifaceted financial plan. Charitable giving is a huge pillar of our Centura Wealth’s mission. Charitable giving is a win-win scenario for everyone. You get to invest in an important cause while improving your bottom line.
Legislative Risk: What do you need to do to prepare?
With any administration change, you are bound to see changes that affect your business or financial plan, we call it Legislative Risk.
With change comes opportunity. And with risk we see potential.
Why Financial Planning is Important Now
Knowledge is power, and this rings true especially with financial planning. For some, financial jargon is reason enough to avoid financial planning. The fancy words, however, still fail to cover the truth about financial planning. Wealth has many complexities and responsibilities, but a big part of the burden is simply doing right by your family and your values. In short, grow your knowledge.
A Brief History of the Estate Tax and Potential Implications for the Upcoming Election
The estate tax is levied on the entirety of one’s estate upon their passing. This article will guide you through the history of the estate tax while making sense of its complexity and volatility.
O-Zones (Opportunity Zones): Is the Juice Worth the Squeeze?
The Tax Cuts and Jobs Act of 2017 brought about a new type of investment offering, Opportunity Zones, which provide a unique way of mitigating capital gains tax. It’s been reported that Qualified Opportunity Funds have raised over over $6.7 billion thru December 2019, and that there are over 200 available funds. Keep reading to learn more about O-Zones and their tax benefits, and to explore the characteristics of an investor that might consider this opportunity.
Risk Premiums and What They Mean for Your Portfolio
Given an ever-shifting market, it’s important to stay abreast of asset class expectations and how changes in market levels over time can help drive asset allocation decisions in an investment portfolio. In our first blog series on capital markets, we presented our forward-looking risk and return estimates. In this blog we will check current markets relative to our projections to illustrate how we use risk to garner insights necessary for optimal portfolio recommendations. Keep reading to learn more about risk premiums and what they might mean for your portfolio.
Stretch IRA – What Proposed Legislation Could Do to Your Wealth Transfer Plans
Two retirement reform bills (the SECURE Act and RESA) have been circling around Washington, and if passed, may make significant changes to many retirement and estate plans. Notably, the proposed changes outlined in the bill(s) have meaningful implications as the rules on inherited IRA’s are up for debate. Both the House and Senate have different views on the technical aspects of how tax shelters for inherited wealth could be reduced. Read our blog to learn about the differences in proposed changes for “Stretch IRA’s” and what they could mean for tax planning, wealth accumulation and wealth transfer.
Baltic Dry Index and Your Investment Outlook: Why You Should Care about the BDI
The Baltic Dry Index (BDI) is a meaningful economic indicator that may return to its heyday as a predictor of future changes in market prices. At Centura, we believe the BDI is a great barometer for global economic health and is likely to be a useful datapoint as trade wars continue to escalate. Understanding how changes in global trade and key macro-economic factors may impact your portfolio is a key consideration related to portfolio planning and investment strategy.
For example, what does a trade war mean for your portfolio?
At Centura Wealth Advisory we specialize in constructing globally diverse portfolios and the Baltic Dry Index (BDI) is one tool we use to measure the current health of the global economy. We model the BDI in combination with other factors to learn how changes may impact markets & portfolios. When designing and managing our clients’ portfolios, we are careful to evaluate emerging trends (e.g., recent changes in BDI rates), to assess where there may or may not be opportunity and/or risk. Read our blog post on Trade Wars and the Baltic Dry Index to understand why we like this indicator and how it may be used by investors and advisors alike.
Active Management and Risk Adjusted Returns
Passive management or active? We believe in both, but not universally. In order to achieve the best of both worlds, a blended approach is what we offer to deliver the best risk-adjusted after-tax returns, and this post explains why. At Centura Wealth Advisory we believe we can add alpha to both stocks and bonds, although the path to do so is very different. With equities, it is all about taxes, and with fixed income it has to do with economics and math.
Charitable Giving: Breaking Down the 60% Deduction
The current low interest rate environment affords savvy financial planners certain tax planning strategies that leverage charitable giving. These strategies utilize charitable contribution limits, as a percentage of Adjusted Gross Income (AGI), to plan and mitigate taxes in the current year and up to the next five. This article explores the new 60% deduction introduced by Tax Cuts and Job Act (TCJA) of 2017.
Capital Market Projections for Asset Allocation and Portfolio Construction – Part 3 in series
Capital market projections play a critical role in the Liberated Wealth® management process. These projections are used in our financial planning, asset allocation, and portfolio construction processes. The goal of these projections is to maximize the portfolio’s expected return for the particular level of risk or minimize the portfolio’s risk in pursuit of the targeted rate of return. The quality of these inputs’ ties directly to the quality of our process outputs, and in striving to drive positive outcomes for our clients we ensure no detail is overlooked and that they are updated on a regular basis.
Capital Market Projections & Monte Carlo – Part 2 in series
Sophisticated projections are critical to crafting a well-designed financial plan and capital market projections are one of many key inputs that play a vital role in doing that. At Centura Wealth Advisory, we pair forward looking capital market projections with the Monte Carlo Method to estimate:
Probability of a client running out of money before their “end of plan” (i.e., death)
Most likely “end of plan” value (e.g., wealth transfer, charitable giving purposes)
Optimal asset allocation strategy for a given plan
Capital Market Projections
Capital market projections play a critical role in the Liberated Wealth® management process. These projections are used in our financial planning, asset allocation, and portfolio construction processes. The goal of these projections is to maximize the portfolio’s expected return for the particular level of risk or minimize the portfolio’s risk in pursuit of the targeted rate of return. The quality of these inputs’ ties directly to the quality of our process outputs, and in striving to drive positive outcomes for our clients we ensure no detail is overlooked and that they are updated on a regular basis.
Your Teen is off to College!
20.4 million kids attended a college, university or trade school in 2017. Using simple math, that means approximately 40.8 million parents sent their babies off to school last year. There is so much to do and to remember!
Financial and Estate Planning for Women
Ladies, in today’s world we are exposed to all kinds of sound bites, headlines and political propaganda….. “the war on women,” “wage inequality,” and other such catch phrases designed to incite feelings of helplessness, fear, betrayal and injustice.