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What is Wealth Management

Wealth Preservation / Investment Consulting

Wealth Preservation / Investment Consulting

Above all else, the affluent are concerned about losing their wealth. Despite their wealth, they are not immune to financial setbacks. But wealth preservation is not only about not losing money—it’s about having enough money to fund their lifestyles, whether simple or extravagant.

The goal of wealth preservation is to produce the best possible investment returns consistent with the client’s time frame and tolerance for risk. This is the primary area of focus for most financial advisors. As a wealth manager, investment management is the foundation of the value we provide to our affluent clients.

Wealth Enhancement

Wealth Enhancement

Wealth enhancement is about tax mitigation: minimizing the impact of taxes on clients’ investment returns while ensuring the cash flow they need.

We have seen that mitigating incomes taxes is one of the major financial concerns of the great majority of our affluent individuals and families. Mitigating estate taxes and capital gains taxes also ranks high on their list of concerns.

It’s no surprise that so many affluent share these tax-related concerns. Taxes can—and do—eat up a great deal of wealth. As a wealth manager, We help our clients enhance their wealth by minimizing this impact.

Wealth Protection

Wealth Protection

This includes all concerns about protecting our client’s wealth against catastrophic loss, potential creditors, litigants, children’s spouses and potential ex-spouses and identity thieves—in short, ensuring that your assets are not unjustly taken.

Many affluent individuals are worried about being sued—not surprising, given how litigious our culture has become. This means that as a wealth manager, we will likely need to address controlling risks through business processes, employment agreements and buy-sell agreements, as well as restructuring various assets and considering legal forms of ownership—such as trusts and limited liability entities—that will help put your clients’ wealth beyond the reach of creditors and other parties who may seek to take it.

Wealth Transfer

Wealth Transfer

Effective wealth transfer is all about taking care of heirs: finding and facilitating the most tax-efficient way to pass assets to loved ones in ways that meet the client’s wishes with minimal difficulty and cost.

 Given the fluid nature of today’s tax environment, affluent families need to be proactive in their wealth transfer planning efforts if they truly want their wealth to benefit their heirs to the fullest extent possible. At Daniel Krug & Associates we will help you do so.

Charitable Giving

Charitable Giving

Americans—especially the affluent—are some of the most charitable people in the world. Chances are, you use some of your wealth to support favorite causes or organizations that are important to you.

But those contributions may not be having as big an impact as they could—and it’s possible you’re missing out on some valuable charitable tax benefits that could help both you and your favorite charities. At Daniel Krug & Associates we help you size up the effectiveness of your giving—along with some strategies that could potentially put some real power behind your philanthropy.

Additional Services

Retirement Income Strategies

Believe it or not, everyone has a “circle of wealth” to draw on in retirement. So, a retirement income plan isn’t just for the wealthy. In fact, your circle of wealth may be larger than you think. There is one thing all of us have in common as it relates to our circle of wealth— we want it to grow larger, or at least we want to keep it from getting any smaller.

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Asset Protection

The market can help your money grow, but we all know it doesn’t provide security. Many times, especially in retirement, we need our financial strategies to include some secured income products. For example, annuities (insurance products with guarantees*) can provide a source of supplemental income throughout your retirement.

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Annuities

Everyone dreams of having the right amount of money in retirement and never having to worry if it will disappear or last long enough. There are many annuity products currently on the market that can help provide a secure stream of income during retirement.

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Wealth Accumulation

Time doesn’t stand still, and neither does money. That’s why you can use time to your advantage when investing for wealth accumulation. The longer you invest, the more time your money has to compound. However, time is not the only important factor in wealth accumulation.

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IRA & 401(K) Assets

Rolling over from one qualified plan to another qualified plan allows your money to continue growing tax-deferred until you receive distributions in retirement. If you change jobs and want to move your 401(k) money with you to your new job and your new 401(k), we can help you determine if a rollover is the right move for you if your company allows that.

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Asset Protection

The market can help your money grow, but we all know it doesn’t provide security. Many times, especially in retirement, we need our financial strategies to include some secured income products. For example, annuities (insurance products with guarantees*) can provide a source of supplemental income throughout your retirement.

Learn more

Life Insurance

Life insurance isn’t for those who have died—it’s for those who are left behind. When shopping for life insurance, needs such as replacing income so your family can maintain its standard of living and paying for funeral and estate costs must be considered.

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Long Term Care

For seniors, home health care can cost $50,000 or more per year1, and nursing home care can run as high as $80,0002 a year. Does your retirement plan account for this possibility? Would you be prepared for twice that amount as a married couple?

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Tax Planning And Preparation

Rising taxes are a concern for both pre-retirees and retirees. Therefore, it is critical to incorporate tax planning into your financial decisions. We believe that taxes may pose the biggest threat to your future financial stability because they can cause asset erosion if not handled efficiently.

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Estate Planning

Without a properly structured estate plan, your wishes may not be fulfilled in the manner you expected, and your loved ones could be hurt both emotionally and financially.

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IRA Legacy Planning

IRA accounts have become one of the most prominent types of accounts inherited by beneficiaries. Suppose you don’t anticipate needing your IRA money in retirement.

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Probate

Probate is the potentially lengthy and costly legal process that results in the government overseeing the transfer of your assets upon your death.

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Trusts

There are many different types of trusts, and they can be complex to set up and execute. However, a trust can be a very flexible and advantageous means to transfer your assets in the future.

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