What Rights Do Donors Have Over Donor-Advised Funds?
A current lawsuit in California raises several questions about what rights donors retain when they donate property to a donor-advised fund....
The attorneys at CHWM are focused on providing clients with both short-term and long-term plans that achieve the greatest after-tax benefits. We often work as part of the taxpayer’s team of lawyers, accountants, and financial advisors. Of particular concern is the impact that tax consequences have on planning for retirement.
For individuals and businesses, every transaction requires an evaluation of both the tax and the non-tax consequences of the proposed structure. The firm reviews changes in tax law as they occur to protect and advise clients of both opportunities and pitfalls in an increasingly complex tax environment. We prepare comprehensive tax projections to illustrate proposed options and the relative tax costs of alternative approaches. The firm’s experience in counseling both individuals and business entities within the framework of overall income, gift, and estate tax planning allows it to provide these services in a cost-effective manner.
In the business world, we have been involved in tax-free exchanges of real estate, the sale and acquisition of all kinds of businesses, and allowing clients to retire without lowering their standard of living. Our vast experience coupled with in-depth knowledge of what the investment world has to offer has allowed our clients to achieve their retirement goals with a minimum level of risk. While we focus on reducing the amount of tax you owe, as a full-service firm, we are able to render our tax planning advice in conjunction with our estate planning, tax preparation, business formation and succession planning services that other tax professionals may not offer.
CHWM regularly counsels individuals who are participants in qualified retirement plans regarding the income and estate tax aspects of distributions and plan benefits. By formulating an appropriate strategy before retirement plan payments begin, substantial tax savings can be achieved. We pay special attention to individuals with 401k plans and Individual Retirement accounts (or IRAs). Whether you have a 401k, IRA, or Roth IRA will greatly affect one’s tax burden both before and during retirement.
The retirement tax planning process, along with comprehensive income tax planning, is usually part of the estate planning process which the firm provides to its clients. Our firm frequently uses trusts designed to achieve the particular objectives of each family and reduce the overall tax burden during retirement. The wrong decision can cost a client as much as 70% of their retirement benefits in taxes.