Mark Kravietz’s Post

Wishing you all a safe and happy 4th of July. #IndependenceDay #July4

New findings from data firm Altrata reveal that "within the next decade, 1.2 million people worth at least US$5 million will transfer an estimated US$31 trillion to their heirs," the majority of which are individuals in their mid-to-late 40s, debunking a common myth that the next major wealth transfer will go to millennials. This upcoming transfer can make thorough #EstatePlanning more pertinent than ever, including "how this money is transferred during an individual’s lifetime, or through inheritance, and what the beneficiaries will do with it," especially as generational differences and similarities reveal themselves in response to various geopolitical, social, and cultural issues and developments. #WealthManagement #WealthTransfer #Finance #GenX https://lnkd.in/eHGbYj8t

"While the future of the TCJA provisions remains uncertain, proactive and strategic estate planning can help, [using] strategies like optimized timing of income and deductions, retirement contributions, Roth conversions, loss harvesting, charitable giving, and, perhaps, a reexamination of business structures." In addition to a list of #EstatePlanning insights for 2026, this CPA Advisor piece highlights an important reminder: mid-affluent individuals and families can take advantage of these benefits as well. ALINE Wealth Management and Hightower Advisors, LLC or any of its affiliates do not provide tax or legal advice. This material was not intended or written to be used or presented to any entity as tax or legal advice. Clients are urged to consult their tax and/or legal advisor for related questions. #LegacyPlanning #Tax #EstatePlanning #AssetManagement

With an aging population, people may want to consider what it means to inherit money from the family. Yahoo News notes that boomers are preparing for the great wealth transfer, which is interesting because they are the generation with a lot of stock and houses that they got during an ideal market. Those assets will soon transfer, meaning everything, especially for the younger generation, who have been in a struggling economy for quite some time. #WealthTransfer #AgingPopulation

What percentage of business owners *don't* have a succession plan in place? The number may shock you. According to a new study by Edward Jones, conducted with Morning Consult and NEXT360 Partners, it stands at around 64%. Additionally, 16% "feel unprepared for their succession plan, grappling with unexpected hurdles and emotional decisions." The major barriers preventing business leaders include "uncertainty about the business’s future (32%), lack of knowledge on where to start (32%), and difficulty in identifying a suitable successor (26%)." A clear succession plan can be crucial for sustainable business ownership and management. Based on the results of this survey, it seems that more leaders could benefit from understanding this concept and considering its implementation. #SuccessionPlanning #Finance #ExitStrategy #Leadership #Business

Succession planning for small businesses can already be challenging. A new SCOTUS ruling could threaten responsible succession planning for those businesses, as NFIB notes. "This decision enables the IRS to continue taxing small businesses based on an artificial and inflated assessment of the company’s worth following the death of an owner." Time will only tell how this will affect small businesses; it could potentially prevent them from creating an effective business strategy and exit plan. ALINE Wealth Management and Hightower Advisors, LLC or any of its affiliates do not provide tax or legal advice. This material was not intended or written to be used or presented to any entity as tax or legal advice. Clients are urged to consult their tax and/or legal advisor for related questions. #SuccessionPlanning #SmallBusiness

Financial planning is usually pretty complex, but AI may make it easier. Fortune discusses how investors are gearing up for the technology to take over the industry, but it could be incredibly useful. AI is already being used to set up customer chatbots and prevent fraud. This is important given that young people are planning more than other generations and are more welcoming of AI technology to assist in their daily lives. Helping customers with budgets is an easy way for investors to utilize AI without being completely overwhelmed by its capabilities. #FinancialManagement #Retirement

Season 2 of HBO's hit fantasy show House Of The Dragon was released this past weekend, with valuable parallels to real-life estate & succession planning and key lessons for all viewers. For one, House Targaryen's many misunderstandings and secrets lead to chaos and irreversible conflict. In real life, a lack of clear communication regarding your estate "can result in confusion and disputes among heirs," making it essential to host proactive and transparent conversations. The Targaryens also have a host of advisors to provide counsel in various matters -- in a similar vein, seeking out professional advisors can be a valuable option that helps you navigate an often complex landscape and "legal, financial, and tax implications." Had to share these excellent considerations #EstatePlanning, for anyone watching the show this week! #Retirement #Finance #GOT #HouseOfTheDragon

NAPA discusses how young savers are reporting higher confidence in their ability to plan for retirement. Gen Z has lived through a lot of economic turmoil, especially with the job market being rather disparate, and therefore, young people are getting ahead of their retirement planning. While economic changes will always happen and come at unexpected times, reports show that Gen Z is investing more in financial education and saving as much as possible. It will be interesting to see how these trends develop. To learn more, check out the article here: https://lnkd.in/ezg2YF-S #GenZ #RetirementPlanning #Saving