CIBC Private Wealth Management Blog
Cathy Schnaubelt
Wealth Strategies

5 Lifetime Gift Strategies for You and Your Family to Consider

Cathy Schnaubelt
August 08, 2019

Fortunately, there are a number of strategies that can help preserve your assets, facilitate the transfer of wealth and ease the tax burden on yourself and your estate. Here are five commonly-used lifetime gift strategies for you and your family to consider if you have significant wealth to transfer to future generations. Grantor Retained Annuity Trust (GRAT) A grantor...
Wealth Strategies

2 Reasons to Consider a Dynasty Trust

Cathy Schnaubelt
August 01, 2019

The many advantages of gifting assets to a trust include asset protection, tax planning and maintaining family control until the beneficiary reaches adulthood. A dynasty trust—any trust that lasts longer than one generation below that of the grantor—can be a useful estate planning tool for multi-generational families. While it’s important to consider the advantages and limitations of...
Wealth Strategies

Moving Forward After a Loss

Cathy Schnaubelt
July 11, 2019

No matter how much time you’ve had to prepare, losing your partner due to death, incapacity or divorce can be devastating. Not only do such major life events take an emotional toll, they can uproot your day-to-day life in more practical ways—often from a financial perspective.   If your spouse handled the household finances, moving forward independently can be a challenge during those...
Wealth Strategies

How to Navigate Loss

Cathy Schnaubelt
June 26, 2019

This is the second blog in a three-part series that focuses navigating loss. Navigating the loss of a spouse or partner—whether due to death, mental incapacity, or divorce—is never easy. Major life events like these often require a multitude of legal and financial decisions that can be confusing under the best of circumstances. When combined with the emotional trauma of dealing with such...
Wealth Strategies

Preparing Yourself Financially for Loss

Cathy Schnaubelt
June 20, 2019

We’ve all heard the saying, “Hope for the best, but prepare for the worst.” Unless you’re a total risk seeker, you may apply this proverb to your daily life. Maybe you wear your seatbelt, own health insurance, or carry an umbrella with you, even when it’s not raining. Though most of us engage in these types of routine prevention measures without question, we often fail to take the same...
Wealth Strategies

Determining and Collecting Spousal Support in a Divorce

Cathy Schnaubelt
May 17, 2019

Though spousal support often seems to receive the most attention in a divorce, it’s usually not determined until later in the divorce proceedings. Only after a plan is in place for dividing property and other assets can the need for either spouse to receive or pay spousal support be fully understood. Calculating Spousal Support The amount of support either spouse is entitled to—if any—is...
Wealth Strategies

Preparing for Divorce? First, Get Organized

Cathy Schnaubelt
April 11, 2019

3 Steps to Help Get Your Financial Affairs in Order Divorce is rarely an easy process. Besides the emotional stress it tends to create, the complexities—and paperwork—that come with dividing assets can make getting divorced a challenge for all involved. While a variety of factors can impact the outcome, one element that you’re able to control is your level of preparation leading up...
Wealth Strategies

6 Reasons Why You Should Have an Estate Plan

Cathy Schnaubelt
April 04, 2019

While you may think that only the ultra-wealthy need an estate plan, anyone—regardless of age, marital status or net worth—can benefit from having a plan in place if the unexpected happens. Still, more than half of American adults—and 78% of millennials—lack basic estate planning documents like a will or living trust, according to the American Association of Retired Persons (AARP).  It’s...
Wealth Strategies

The Pros and Cons of Credit Cards

Cathy Schnaubelt
March 27, 2019

Credit cards are often seen as a rite of passage for the financially independent—especially among young adults. Today, there’s no shortage of options available to those who want to borrow funds, whether it’s for a specific purchase, to supplement income between pay periods, or to get a small business off the ground. Because of the many advantages credit cards offer over cash and debit...
Wealth Strategies

Helpful Considerations For Giving Gifts And Funding Expenses

Cathy Schnaubelt
March 21, 2019

If you’re fortunate to have enough wealth to transfer to your family members upon your death, you might want to start thinking about ways to distribute it now, to reduce the size of your estate and potential estate taxes . The IRS allows you to make gifts up to a certain limit each year without being taxed at the federal level. Additionally, there are several exceptions to this rule—notably,...
Wealth Strategies

Three Challenges That Can Disrupt Your Strategic Giving Plan (And How to Handle Them)

Cathy Schnaubelt
March 08, 2019

Over the course of your lifetime and beyond, a number of challenges can arise that threaten to disrupt your strategy. Fortunately, a disciplined approach can help you overcome these obstacles to keep your giving plan on track. 1. Receiving Too Many Requests It’s common to receive a multitude of requests from various charities over the course of the year—and to want to respond favorably...
Wealth Strategies

Six Financial Issues To Discuss Before Getting Married

Cathy Schnaubelt
February 28, 2019

The decision to get married can be one of the most exciting and important decisions you’ll make during your lifetime. However, in practical terms, marriage often represents the merging of assets—and as such, has numerous financial implications. With many adults waiting longer to get married, it’s common for people to have distinct financial goals and challenges before finding a...
Wealth Strategies

9 Ways To Gift Your Assets To Charity

Cathy Schnaubelt
February 21, 2019

People choose to give for many different reasons—some altruistic, some fueled by more practical purposes such as the potential tax advantages. Regardless of your motivations, if you’re considering incorporating charitable giving into your financial plan, it’s important to understand the various ways you can give to maximize impact while reaping the applicable benefits. The following methods...
Wealth Strategies

What To Do After You’ve Purchased A Life Insurance Policy

Cathy Schnaubelt
February 14, 2019

Many factors go into purchasing a life insurance policy that suits your needs. And, like any part of your overall financial plan, your insurance program doesn’t end once you’ve decided on a policy and purchased it. Certain decisions and actions should be taken over the policy’s life, beginning with deciding who should be the policy owner and determining how to fund the premiums, and then...
Wealth Strategies

Choosing A Life Insurance Policy To Meet Your Needs

Cathy Schnaubelt
February 07, 2019

Any good wealth management plan involves the periodic evaluation of your financial goals and objectives—and a well-designed approach to help achieve them. Although often overlooked as a planning tool, life insurance can serve a broad spectrum of needs for individuals, families and business owners. Since there are a multitude of policies available, choosing the right life insurance policy and...