Whittier Trust’s Year End Wealth Management Checklist

As the year draws to a close, it’s an opportune time to reflect on their financial journey and strategically plan for the future. At Whittier Trust, we understand the unique needs of high-net-worth individuals and families. Our year-end checklist is designed to help you make informed decisions, optimize your financial position, and pave the way for continued success in the coming years.

1. Comprehensive Financial Review

Kickstart your year-end financial planning with a thorough review of your current financial situation. Evaluate your investment portfolio, assess the performance of your assets, and ensure that your financial goals are aligned with your current circumstances and future aspirations. Whittier Trust’s team of experienced advisors can provide a holistic analysis of your financial landscape, helping you identify areas for potential growth and optimization.

2. Tax Planning Strategies

With tax laws constantly evolving, staying ahead of changes is crucial for maximizing wealth. Collaborate with our tax experts to implement effective strategies that minimize your tax liability. Explore opportunities for tax-efficient investing, charitable giving, and other strategies tailored to your unique financial profile. By proactively addressing tax considerations, you can retain more of your wealth and support the causes that matter to you.

3. Estate Planning

Estate planning is a cornerstone of wealth management, ensuring the seamless transfer of assets to future generations. Review your estate plan to verify that it reflects your current wishes and accounts for any recent changes in your family or financial situation. Whittier Trust’s estate planning specialists can assist in structuring trusts, minimizing estate taxes, and creating a legacy plan that preserves your wealth for generations to come.

4. Charitable Giving Strategies

For many of our clients, philanthropy is a core component of their financial plan. Evaluate your charitable giving strategies to align them with your values and objectives. Explore innovative ways to support causes that matter to you, such as establishing a donor-advised fund or incorporating impact investing into your portfolio. Our advisors can help you create a philanthropic plan that makes a meaningful impact while maximizing tax benefits.

5. Risk Management

Our clients also have complex financial structures that require vigilant risk management. Review your insurance coverage, including life, property, and liability insurance, to ensure that it adequately protects your assets and aligns with your risk tolerance. Whittier Trust’s risk management experts can guide in optimizing your insurance portfolio and mitigating potential risks to your wealth.

6. Investment Portfolio Reassessment

Market conditions can fluctuate, impacting the performance of your investment portfolio. Conduct a comprehensive review of your investments, considering your risk tolerance, financial goals, and market trends. Our investment professionals at Whittier Trust can help you rebalance your portfolio, explore new opportunities, and position your investments for success in the upcoming year.

7. Liquidity Management

Maintaining adequate liquidity is essential for addressing unforeseen expenses and capitalizing on investment opportunities. Review your liquidity needs and ensure that your portfolio is structured to provide the necessary flexibility. Whittier Trust’s financial planning experts can assist in optimizing your liquidity management strategy, balancing short-term needs with long-term financial goals.

8. Retirement Planning

For our clients, retirement planning extends beyond traditional considerations. Evaluate your retirement strategy, taking into account lifestyle preferences, healthcare needs, and legacy planning. Whittier Trust’s retirement planning specialists can tailor a plan that aligns with your unique vision for retirement, ensuring financial security and peace of mind in your golden years.

As we approach the close of another year, Whittier Trust remains committed to providing unparalleled wealth management solutions for our clients. Our comprehensive year-end checklist serves as a roadmap to guide you through the intricacies of financial planning, ensuring that your wealth not only endures but thrives. By partnering with Whittier Trust, you gain more than a financial advisor; you gain a trusted ally dedicated to navigating the complexities of your unique financial landscape. As you reflect on the past and look toward the future, let Whittier Trust be your steadfast partner in achieving your financial aspirations and securing a legacy that extends far beyond the confines of the calendar year.