Tax Planning

Once a solid foundation for legacy planning is laid, we then start to build on that foundation through navigating existing laws and tax code to make informed decisions in service of your legacy goals.  A recurring theme in maximizing financial legacy impact is minimizing taxes and for good reason.  Morningstar research has shown that the average investor lost 1-2% of return annually to federal income taxes from 1926 to 2018.  Two percent of extra return annually on a $100K portfolio could result in an additional $1 million after 40 years1.  That is a lot of wealth surplus that could be used toward legacy goals!

In partnership with specialized tax advisors – whether you already have one or need a referral from Charis Legacy Partners (always free from any referral fees, of course) – we will advise on an array of different tax minimization strategies, including asset location, tax loss harvesting, capital gain harvesting, tax-deferred savings strategies, leveraging HSAs, back-door Roth strategies, Roth conversions, charitable gifting strategies (e.g. charitable bunching, gifting appreciated property, Qualified Charitable Distributions, employer charitable matching programs), etc.


1 This is for illustrative purposes only to show the effect of 2% return compounded annually.