Our Services / Tax & Estate Planning

Tax and estate planning are very important pieces of an overall financial plan, but can be overlooked if one does not work with the right professional(s) or does not coordinate their strategies with their overall financial plan.

Tax Planning

We work with our clients' tax advisors to make sure that the investment plan, saving strategies, and long-term planning that we help them with are coordinated with their tax plan.  Tax planning usually has the goal of minimizing tax liability, whether that be income tax, capital gain tax, gift and/or estate tax. 


Strategies that we help clients understand and implement include:

  • Reducing taxable income through income deferral
  • Roth contributions and conversions
  • Deduction planning
  • Investment tax planning
  • Year-end planning strategies
  • The treatment of wash sales
  • Tax-exempt investments
  • Realizing gains and losses
  • 1031 exchanges
  • Qualified dividends
  • Option strategies
  • Tax-deferred investing
  • Passive income and losses
  • Mutual fund taxation

This process requires year-round planning, and it begins with an in-depth understanding of the tax implications of various strategies and working with a tax professional to chart the best course for our clients.

Estate Planning

Estate planning creates a master plan for the management of your property during life and the distribution of that property at death.

For most people, estate planning aims to:

  • Gives more control over assets during life
  • Provide care when disabled
  • Allow for the transfer of wealth to whom and when wanted, at the lowest possible cost

Common estate planning issues addressed in the wealth management process include:

  • Transfer of wealth
  • Minimization of transfer taxes
  • Asset protection
  • Charitable giving

Wealth transfer planning involves the smooth transition and distribution of wealth according to your wishes. With proper estate planning, you decide to whom, how, and when your assets will be distributed, as well as who will manage your estate or business. Special issues you may deal with are providing financial security for others, planning for children of a previous marriage, equalizing inheritances fairly, and retiring from your business. Wealth transfer planning also involves the management of assets during disability or incapacity.

A major goal of estate planning is to minimize potential taxes without interfering with your other financial goals. If you give away wealth, during life or at death, you may incur federal—and possibly state—taxes. You can help protect the assets you transfer from excessive depletion by understanding these taxes and the various strategies you can use to minimize them.

If you own substantial assets, creditor protection can be a concern. Creditors can come in many forms. An asset protection plan first identifies potential exposure and then identifies preventive tools and strategies to reduce exposure. Asset protection planning deals with ownership issues, liability insurance, statutory protections, special needs trusts, offshore and domestic trusts, prenuptial agreements, divorce, and business dissolutions.

Charitable giving is motivated by both personal and tax incentives. Congress encourages charitable giving through tax legislation that can minimize your income and estate taxes. Charitable planning involves selecting the gifted property and charitable structure that will target your needs.

Our process does not end with estate planning but coordinates your estate plan with your overall plans for your business, investments, insurance, and employee benefits.

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This material has been provided for general informational purposes only and does not constitute either tax or legal advice. Advanced Wealth Management does not provide legal or tax advice. Investors should consult with a tax or legal professional regarding their individual situations.

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