Services

Income

The right asset distribution, paycheck, and plan should be comprehensive and detailed. Simply establishing a systematic withdrawal without thinking about the efficiency, asset location, and proper distribution order is the cardinal sin of advanced income planning. Work with our team of fiduciary advisors who can guide you with a step-by-step process to not only establish your income shortfall but help you create a plan to spend your money confidently.

Will your money last as long as you do? What will inflation’s impact have on your retirement? Prices are increasing on everything from groceries to healthcare. Is my retirement at risk? Why is the rate of inflation rising? How will you decide how much of your savings should be invested in the market? Let’s do a simple calculation to help determine whether you’ve saved enough to retire. What are alternative methods to create income without relying on a volatile stock market?

Investments

An investment strategy is meant to be unique. A cookie-cutter type allocation using a traditional 60/40 blend of stocks and bonds is far from unique. Each client at Schilreff Wealth Management is unique, so our team builds custom investment allocations and strategies that are specifically tailored to each individual’s dynamic risk tolerance, our investment committee’s 6-step due-diligence process and the proactive strategy sessions we host with you, will ensure your investment allocations evolve along with the economy, the political scene, and the latest marketing trends.

As Fidelity’s Peter Lynch so memorably said,

As investors, we can’t control the markets, but we can control how we participate in them. Your participation in your equity portfolio will determine the short, mid, and long-term results of your financial picture. If you have retired or are close to retirement, let us help you to develop withdrawal and tax strategies that will support your lifestyle.

Tax

There is a big difference between tax preparation and tax planning, and there is a good chance that your CPA, Tax preparer or Enrolled agent is not truly looking into strategic ways to help you lower your tax bill. Most accountants and tax preparers simply work off deadlines, and their job is to report what already happened and make sure your return is filed on time. What if your tax plan and your accountant look at your education proactively? What if a set of strategies were presented to you that would help you lower the amount of tax you pay both now and in the future?

Our tax strategist and his team will review your previous tax returns and your current situation and make suggestions that could significantly lower your tax bill and the amount you pay to the IRS. Would you like to avoid surprises at tax time? How will inflation affect your tax bill? Wh proactive planning can help give you financial confidence. How your financial team might coordinate with a tax professional to help create a tax-efficient strategy.

Healthcare

One of the biggest fears our clients have is that a nursing home or a healthcare emergency could result in a spend-down scenario. You need to develop a plan to cover the potentially devastating costs that long-term care presents. Which type of policy fits your situation best? What’s the best way to fund or pay for the care? Are you self-insured, or do you need insurance to ensure you have enough to cover this cost? Our advisors are equipped with the knowledge and expertise to help you develop a healthcare plan. From choosing the right health insurance to making Medicare decisions and purchasing supplement insurance, to buying a long-term care insurance policy, our team will make sure you have the t’s crossed and the I’s dotted.

Legacy

The Great Wealth Transfer represents an unprecedented passage of capital and values from one generation to the next, with approximately $30 trillion passing from baby boomers to 90 million millennials over the next decade. This huge intergenerational transfer of wealth is beginning to take shape. As these Baby Boomers prepare to leave their assets to loved ones, we help them choose suitable wealth transfer strategies that maximize tax efficiency.

It may be tempting for clients to assume this refers to estate taxes; however, it’s often their heirs’ income taxes that need to be prioritized. Therefore, in addition to addressing estate taxes, we consider ways to convert the value of a client’s tax-deferred assets into a tax-free inheritance. Furthermore, many clients will have family circumstances that call for control over their distribution of assets. We will explore solutions to accommodate such needs. A “domino effect” caused by changes to taxes, trust, gifting limits, and more have been set forth by the Secure Act (effective January 1st, 2020). You, your spouse, and your heirs could be negatively impacted if your plan has not been updated to reflect these changes

Wealth & Asset Management

Maintaining financial confidence in a volatile market and preserving your wealth requires a tactical approach to managing your assets. Our wealth management strategies align your investments with your financial plan and long-term goals so that your wealth can be preserved and enjoyed.

Risk Management & Insurance

Protecting your wealth against unforeseen loss is increasingly important as you accumulate wealth and assets. As part of our comprehensive planning process, we will analyze your current personal and employer-provided insurance coverage and your capital demand to determine the optimal level of life and long-term care insurance for your needs.

Retirement Income Planning

Growing your retirement income involves a careful balance of risk and return. That’s why we work with you to develop a strategic roadmap for your unique future with the understanding that any plan we design must perform better today, tomorrow, and at retirement.

Estate Planning

Without proper planning, your estate can be subject to some of the highest tax rates. Our estate plan strategies can assist you in transferring your assets in a tax-efficient way so that your beneficiaries receive the maximum value of your estate. Plan now so that as little as possible is lost to taxes and other expenses.

Business Succession Planning

Whether you’re considering a transition from the day-to-day operations of your business or an exit, now or in the near future, we will assist you in solidifying a plan that helps provide you with the liquidity to fund your retirement goals. We will establish your options within your current financial position and provide you with a plan to achieve your goals.

Charitable Planning

Ensure that your charitable goals are carried out according to your wishes. We will work with you, your estate planning attorney, and CPA if needed, so that your philanthropic vision and giving are optimized for your favorite causes. A well-structured charitable plan will benefit those causes you care about for successive generations.

Consolidated Reporting

Periodic reviews of your portfolio and risk tolerance are necessary to ensure you remain on your strategic roadmap. Our consolidated reporting capabilities enable us to generate performance and risk reports so that you’re able, in concert with our fiduciary services, to determine what adjustments, if any, are needed so you’re better prepared for what tomorrow may bring.

Social Security Planning

There are many questions to answer and strategies to consider before you claim your Social Security benefit. The decision you make could affect your retirement income and quality of life for years to come. Find out more about how to optimize your benefit and protect it from taxes within your overall financial plan.

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