Wealth Planning Illuminated
Latest episodes
Join the wealth strategists of CIBC Private Wealth as they shine light on the topic of wealth planning by sharing their insights and ideas on how to use wealth in ways that are important to you—whether for your own needs, the people you hold dear or the causes that you care about.
April 4, 2024
Income taxation of trusts
A common question for a grantor or a beneficiary of a trust is: “How will income in my trust be taxed?” The answer to that question can be complex and dependent on many factors, but there are some general rules for the federal income taxation of trusts that may help answer this important question.
Listen now13 minutes
March 7, 2024
Inherited IRAs after SECURE
The SECURE Act and subsequent guidance from the IRS significantly changed how inherited individual retirement accounts (IRAs) must be withdrawn after the owner’s death. Understanding the key rules associated with inherited IRAs is important to anyone who is a beneficiary – or may become a beneficiary – of an inherited IRA.
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February 1, 2024
Tangible personal property
Items of tangible personal property – jewelry, artwork, household furniture and the like – are often collected over a lifetime. Because of the sentiment these items might represent and the inability to easily divide certain pieces, personal items in an estate can often create the greatest source of conflict among beneficiaries. Fortunately, there are several actions you can take today to help avoid – or at least minimize – conflict later.
Listen now15 minutes
January 4, 2024
Budgeting 101
Budgeting means creating a unique plan for spending and saving your money: it involves analyzing your income, expenses and financial goals to ensure that your spending aligns with your priorities. There are several steps you can take to create a custom budget for yourself.
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December 7, 2023
Corporate Transparency Act
The Corporate Transparency Act is a law that goes into effect on January 1, 2024, and will impact many limited liability companies, limited partnerships and corporations. If you own or control an entity — whether for estate planning purposes or as an active business — it is important to know how this new law impacts you and how you can comply.
Listen now36 minutes
November 2, 2023
Philanthropic mission statements
A philanthropic mission statement can provide clear direction to you, your family and others about your charitable intentions and motivations. Considering your motivations for giving, giving styles and causes can help you craft that philanthropic mission statement, which will guide and inform your philanthropy – today and into the future.
Listen now14 minutes
October 6, 2023
Helping with a home purchase
The current high cost of housing and interest rates can make it difficult to purchase a home. Not surprisingly, individuals often wonder how they can assist a loved one in home ownership. Fortunately, there are several strategies to consider.
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September 21, 2023
Understanding community and separate property
When a married couple owns property, state laws may dictate how their property may be distributed at death or divided in a divorce. It is important to understand how your state of residence treats property ownership of spouses, especially if you are moving to a new state.
Listen now15 minutes
September 7, 2023
Moving to a new state
There are many factors that prompt a move to a new state, including location of family, better climate and, of course, taxes. If you are moving from a higher-tax state to a lower-tax state, it can be particularly important to effectively establish your domicile in your new state.
Listen now9 minutes
May 19, 2023
Planning for your modern family
“Family” is a powerful word, loaded with meanings and emotions. And today, family structures go far beyond historical legal and cultural definitions. For any of today’s families, the essential planning questions of yesterday still apply. In general, the special planning considerations for families that differ from “traditional” families fall into a few main categories.
Listen now15 minutes
May 4, 2023
Protecting what is yours: financial risk of divorce
Prenuptial agreements shouldn’t be thought of as an exit plan for a marriage or “just” a legal document, but rather a conversation that can help a couple to understand what they could be facing in their marriage and decide for themselves how to handle their financial affairs. Certain considerations may help you decide if a prenuptial agreement is right for you.
Listen now12 minutes
April 20, 2023
Protecting those you love: personal safety risk
There are many types of personal security risks that you and your family may face. Being aware of and managing such risks can help you feel empowered rather than fearful. The process for assessing your risk should follow a clear methodology that identifies areas of vulnerability, followed by a plan for eliminating or reducing those vulnerabilities.
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April 6, 2023
Protecting what you built: household, liability and online risk
Safeguarding family wealth requires recognizing, acknowledging and preventing exposure to risks—and risks come in all shapes and forms, including people, computers or legal actions. All have the potential to damage your financial security and your family’s wealth.
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March 16, 2023
Protecting who you are: reputation risk
Given the online world in which we live today, it can be easy for an individual's reputation to be damaged. Luckily, there are certain considerations that can help you protect your reputation.
Listen now7 minutes
March 2, 2023
Protecting your wealth: asset protection
Asset protection may cover everything from how assets are owned and titled, to how they’re insured and protected, to how they can be efficiently managed. As you think about protecting your family's assets, there are some tactics that may be right for you and your family.
Listen now13 minutes
February 16, 2023
Administering a loved one's estate
Most people have little experience dealing with estate administration and are often overwhelmed when they discover they’ve been appointed to oversee it. While there are many activities involved with administering an estate, you may be able to ease the burden by familiarizing yourself with the process.
Listen now15 minutes
February 2, 2023
Aging Wisely: An ever-changing healthcare system
At various stages of life—including, retirement, starting a new business, changing jobs, becoming Medicare-eligible—healthcare is one more decision point and understanding and managing it all can be a big undertaking. However, exploring a few topics can help you make better decisions about your healthcare today and in the future.
Listen now11 minutes
January 19, 2023
Aging Wisely: Cognitive decline in you or a loved one
An aging population is presenting new challenges to families and advisors alike. As we rise to meet these challenges, more attention is being paid to our aging population and its effects on society and individual relationships. Luckily, there is a wealth of resources as well as specific action items that can help smooth the path of inevitable change.
Listen now11 minutes
January 6, 2023
Aging Wisely: Your estate plan and its impact on your family
The most effective estate plan is one that covers all the basics in a very practical way throughout your life. While you don’t need to have significant wealth to need practical planning, you do need to have a vision for how you want your family taken care of. There are some practical planning steps that can help your estate plan be effective for you and your family as you age.
Listen now13 minutes
December 1, 2022
Incentive compensation
No matter where you are in your working life, it is important to understand how the various types of incentive compensation may fit into your overall wealth management and retirement plan. There are a few main types of incentive compensation—each with its own pros and cons relative to risk and return, taxes, vesting requirements and impact on your investment portfolio.
Listen now7 minutes
November 17, 2022
Converting a traditional IRA to a Roth IRA (part 2)
Once you decide to convert a traditional IRA to a Roth IRA, the analysis has only just begun. By considering a variety of factors, you can determine the best way to tailor the Roth conversion to your circumstances and wealth planning goals.
Listen now11 minutes
November 4, 2022
Converting a traditional IRA to a Roth IRA (part 1)
Both traditional IRAs and Roth IRAs are powerful savings tools, and it is important to determine with your advisors whether your current IRAs best fit your retirement plan. If you have a traditional IRA and are thinking about converting it to a Roth IRA, certain considerations may help you determine if it is the best option for you.
Listen now6 minutes
October 20, 2022
Retirement planning: Planning in retirement
When you are in retirement and need to start accessing your savings to fund your living expenses, it can be crucial to understand your spending options and the implications of each choice. There are several considerations that may help you determine how best to fund your lifestyle.
Listen now12 minutes
October 6, 2022
Retirement planning: Planning closer to retirement
As you get closer to retirement, it is important to understand whether you are on target to achieve your goals. Putting together a financial plan -- and regularly revisiting it -- can help you assess your progress and provide the opportunity to make any necessary adjustments along the way.
Listen now12 minutes
September 15, 2022
Retirement planning: Planning in your 20s and 30s
While retirement may seem far away when you are in your 20s and 30s, starting to plan during those earlier years can make a big difference. There are a few steps that you can take now to help your retirement be more successful in the future.
Listen now17 minutes
September 1, 2022
Retirement planning: Introduction
For many, retirement is one of their most important goals, but planning how to get there can sometimes be overwhelming. Whether you are in your 20s, your 70s, or somewhere in between, answering a few questions may help you factor in the right information and begin your path to retirement planning.
Listen now8 minutes
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