Truepoint Talks: Planning Opportunities in a Down Market

On March 31, Truepoint presented a “Truepoint Talks” webinar, focused on planning opportunities in a down market. Steve Condon was joined by the following members of our team to take a look at the broader financial planning, tax and estate planning opportunities in this environment: Eric Chaimowitz (tax specialist), John Evans (wealth advisor), Eric Ross (financial planning specialist) and David Bross (estate planning specialist). We also took a close look at the recently passed CARES (Coronavirus Aid, Relief, and Economic Securities) Act and the possible implications for our clients.

Here’s the full recording of the webinar with some of the highlights included below:

Coronavirus Aid, Relief, and Economic Security (CARES) Act: Key Impacts on Individuals

  • Cash payments (“recovery rebates”)
  • Suspension of 2020 required minimum distributions (RMDs)
  • Changes to charitable contributions

Down Market Strategies: Financial & Estate Planning Ideas to Consider

  • Roth conversions
  • In-kind IRA distributions
  • Annuity surrenders – full/partial
  • Income distribution restructuring
  • Estate planning vehicles – Grantor Retained Annuity Trusts and Spousal Limited Access Trusts
  • Gifting strategies

For many of us, the current environment brings back memories of 2008 when we were in the midst of the great financial crisis. There was a great uncertainty about what the economic environment would mean to investors’ long-term financial security. While we don’t know what the current economic environment will bring in terms of the road to recovery, and what that path will look like, we do know that we will get beyond this, and then we will recover.

At Truepoint, we appreciate the opportunity to serve our clients every day, particularly during challenging times. We know how difficult they can be to weather, but as our presentation demonstrated, we’re always looking for opportunities to build financial security by capitalizing on the current environment.

Truepoint Wealth Counsel is a fee-only Registered Investment Adviser. Registration as an adviser does not connote a specific level of skill or training. More detail, including forms ADV Part 2A & 2B filed with the SEC, can be found at TruepointWealth.com. Neither the information, nor any opinion expressed, is to be construed as personalized investment, tax or legal advice. The accuracy and completeness of information presented from third-party sources cannot be guaranteed.

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