Losing a loved one is one of the most challenging and emotional periods in anyone’s life. When assets, such as property and investments, are left to their beneficiaries, many families have a difficult time knowing where and how to start the process of settling the estate.

In today’s episode, we’ll focus on estate planning, specifically the responsibilities and tax implications that a beneficiary has when they inherit those assets. I’m joined by our very own Mark Kenney and Amanda Glennon, who both have years of experience guiding families through this process to ensure that the actions and decisions that are made won’t have financial consequences later.

In our conversation, you’ll learn how changes to the SECURE Act have impacted how inherited assets are taxed and distributed, the new estate tax exemption rules for Massachusetts residents, and why developing a relationship with an advisor to create an estate plan makes the entire process easier to handle during such an emotional time.

In this podcast interview, you’ll learn:

• How changes to the SECURE Act have accelerated the timeframe to deplete inherited assets for non-spouses.
• What cost basis means and how it applies to inheriting property or investments.
• The values of an estate that are excluded from state and federal estate taxes.
• How long a beneficiary can expect to wait before the estate is settled.
• The difference in taxation from inheriting an IRA and a Roth IRA.
• The added value in dealing with a Financial Advisor in person vs over the phone when handling an estate.

Want the Full Show Notes?

To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit SHPfinancial.com/podcast

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In early 2023, SHP Financial passed the $1 billion threshold in AUM, or assets under management. If you’ve ever wondered what goes into running a firm of this size, how we choose our managers, and how we help our clients create comprehensive financial plans, today’s episode is for you.

Today’s guest is William Malagodi. William has extensive experience building out hugely successful firms. In this conversation, we explore the art of manager selection, how we manage our day to day operations, and go above and beyond to deliver for our clients.

In this podcast interview, you’ll learn:

• How financial planners learn about the firms and resources they work with and recommend to clients.
• Why it’s all but impossible to use just free information from the internet to build a robust, stress-tested portfolio.
• SHP’s philosophy on risk based and allocation based portfolios.
• What a comprehensive portfolio review at SHP looks like.

Want the Full Show Notes?

To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit SHPfinancial.com/podcast

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Today, we’re joined by Chris Smith, creator of the Campfire Effect and host of the Family Brand Podcast. Chris works with leaders and advisors in the financial planning space to help them tell their stories, scale their businesses, and unlock growth and change.

We’ve worked with Chris in the past to develop and tell the story of our brand, and we wanted to take this opportunity to share wisdom and insights you can use in your own life and business.

In this conversation, we discussed how financial planning is more than a numbers game, what separates a technically competent financial planner from a truly great one, and how to tell you’re receiving the kind of service you, your family, and your legacy deserve.

• In this podcast interview, you’ll learn:
  The important questions you should be asking any prospective financial advisor that go beyond portfolio construction and risk assessment.
• How a good financial advisor helps challenge and support you to live your best life.
• Why your financial advisor needs to provide you with guidance and leadership to ensure your successful retirement.
• The surprising things we learned on our multi-year journey to understand how to best serve our clients.
• Two simple things you can do to transform your mindset.

Want the Full Show Notes?

To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit SHPfinancial.com/podcast

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• YouTube