Year-End Tax Planning for High-Income Households: Roth Conversions, Charitable Bunching, and Gain/Loss Management Year-end tax planning is the process of coordinating your income, deductions, portfolio gains and losses, retirement accounts, charitable giving, and upcoming liquidity events before December 31. Key takeaways A Roth conversion, a charitable gift, and a stock [...]
Beneficiary Designations: When and Why They Matter and When to Review Them Beneficiary designations determine who receives certain assets when an account holder passes away. These designations apply to retirement accounts, life insurance policies, annuities, and some brokerage accounts. Many investors complete these forms when opening an account and may [...]
The 10-Year Rule for Inherited IRAs in 2026: How to Avoid Costly Tax Mistakes For decades, the “Stretch IRA” was one of the most effective estate planning strategies available. It allowed children and grandchildren to inherit retirement accounts and distribute assets over their own life expectancies, potentially deferring income taxes [...]
The 5-Year Retirement Countdown: A Retirement Planning Checklist for Chicago Executives For many executives in Chicago, Barrington, Oak Park, and throughout the Chicagoland area, the five years leading up to retirement represent one of the most important financial planning periods of their lives. During this time, decisions regarding executive compensation, [...]
The Ultimate Guide to Dynasty Trusts: Using Generation-Skipping Trusts to Preserve Multi-Generational Wealth For high-net-worth families in Barrington and the greater Chicago area, building wealth is often about more than personal financial security. Many families want to create a lasting legacy that benefits children, grandchildren, and future generations. One estate [...]
7 Tax-Loss Harvesting Mistakes That Could Cost Investors Thousands For high-net-worth families and business owners, market volatility can create opportunities to improve after-tax returns through tax-efficient investing in Chicago. When implemented properly, tax-loss harvesting can help offset realized capital gains, improve long-term tax efficiency, and keep more assets invested over [...]
Navigating the 2026 Illinois Estate Tax Landscape: A Planning Guide for Barrington Families As of 2026, Illinois continues to impose a state estate tax with a $4 million exemption threshold and graduated tax rates that may reach up to 22% on taxable amounts above the exemption. Unlike the federal estate [...]
Mutual Funds vs. Individual Securities: Tax Considerations for High-Net-Worth Investors For high-net-worth investors in Barrington and the greater Chicago area, after-tax outcomes can materially impact long-term portfolio results. While mutual funds are commonly used for diversification and ease of implementation, their structure may introduce tax inefficiencies and additional costs that [...]
Estate Settlement for High-Net-Worth Families: A Fiduciary Guide for Investors Settling an estate is not simply an administrative task—it is a multi-phase financial, legal, and tax process that can materially impact long-term wealth outcomes for beneficiaries. For high-net-worth families in Barrington and the greater Chicago area, the complexity is amplified [...]
Summary New in 2026: a 0.5% AGI floor on charitable deductions and a top rate drop from 37% to 35% may reduce your deduction value. In 2025, QCDs can satisfy RMDs, keep income off your return, and may help with AGI-based items—but funds must reach charities by December 31. Additional [...]
