Gateway Financial Partners - Tim Hammond

10/26/2026

Some financial decisions are easy to make quickly.

Others require coordination between your financial advisor, CPA, estate planning attorney, and sometimes even family members.

That is especially true when you are considering things like:

• Realizing investment gains or losses
• Making significant gifts to family
• Reviewing trusts or beneficiary designations
• Donating appreciated investments
• Making other year-end tax moves

October can be a good time to start identifying what needs attention while there is still time to have the right conversations.

Year-end planning tends to work better when it is actually planning, not a last-minute checklist.

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10/22/2026

How you give can carry just as much weight as the amount you're giving.

Cash is the most familiar option, but some people choose to give appreciated investments instead, which may help them avoid paying tax on the gain. Others use a donor-advised fund to spread their giving over time.

And if you’re 70½ or older, a qualified charitable distribution from your IRA may be worth looking into.

Timing can play a role too. Some families group several years of gifts into one year, depending on their tax picture.

None of these is the right answer for everyone. But taking a few minutes to think through the options can help your generosity go a little further for the causes you care about.

10/21/2026

Parents and grandparents sometimes lend money to family members for a home, business, education, or another major expense.

Even when the arrangement is informal, there may be tax, estate, and documentation considerations worth reviewing.

That can include:

• The interest rate
• Repayment terms
• Written documentation
• The borrower’s ability to repay
• How the loan may interact with the broader estate plan

The right structure will depend on the family’s circumstances and goals.

10/20/2026

Could your cost basis change the way you transfer wealth?

It’s one of those details that doesn’t come up often, but it can make a real difference. Cost basis is generally what you originally paid for an asset, and it’s used to figure out any gain when that asset is eventually sold.

Here’s where it gets interesting.

Giving an appreciated asset to someone during your lifetime usually means they take on your original cost basis.

Under current law, assets passed on at death may receive a “step-up” in basis to their value at that time. That difference could affect how much tax your loved ones might owe down the road.

That doesn’t mean one approach is always better than the other.

Gifting during your lifetime can have its own benefits, and every family’s situation is different.

But if you’re thinking about passing on stocks, real estate, or other assets that have grown in value, cost basis is worth understanding before you decide how and when.

10/19/2026

Nobody can know exactly what the future holds.

But we can think through the possibilities today.

What if you retire earlier than you expected?

What if your family changes?

What if your priorities shift?

What if someone else eventually needs to manage your affairs?

Good planning doesn’t count on one version of the future. It makes room for several.

10/15/2026

An estate plan can be completely up to date on paper and still have details worth revisiting.

An old beneficiary. An account titled differently than expected. A trust that hasn’t been reviewed since your circumstances changed.

Small oversights can create bigger complications later.

Don’t make these common estate planning mistakes and your loved ones will thank you

10/14/2026

Tax consequences matter, but they shouldn't be the only consideration.

Before making a tax-driven investment decision, ask:

1. Would I still sell without the tax benefit?

2. Does this investment still fit my financial goals?

3. How would selling affect my portfolio's allocation and risk?

4. What are the potential costs or consequences of selling?

A tax strategy should support your overall financial plan, not drive it.

09/28/2026

When your business is one of your largest assets, the decisions you make inside the company can have a meaningful impact on your personal financial picture.

A few areas business owners may want to revisit regularly:

1. Salary versus distributions.
How you compensate yourself can affect payroll taxes, retirement plan contributions, cash flow, and other planning considerations.

2. Reinvestment versus taking cash out.
Reinvesting in the business may support future growth, but it can also mean more of your wealth remains concentrated in the company rather than in personal savings and investments.

3. Retirement plan design.
Depending on the business and its needs, strategies such as a 401(k), SEP IRA, or cash balance plan may offer opportunities to build retirement savings while considering potential tax benefits.

4. Owner benefits.
Health, disability, and life insurance provided through the business can play an important role in your broader personal financial plan.

5. Debt and personal guarantees.
Business debt may not always stay confined to the business. Personal guarantees can create financial exposure that should be considered alongside the rest of your plan.

The business plan and the personal financial plan should not live in separate worlds. Reviewing them together can help identify where they are aligned and where additional planning may be worth considering.

09/23/2026

This line is often credited to Darwin, but it was written by a business professor, which feels appropriate.

The businesses that make it through an ownership transition aren't always the biggest or the most profitable. They're the ones that prepared for the change deliberately, with a plan, a timeline, and people ready to step in.

09/17/2026

Business owners need three documents most estate plans skip: a buy-sell agreement, a written succession plan, and key person insurance.

Kiplinger breaks down why:

A business owner's estate plan should protect the company and its employees as well as the entrepreneur's heirs. These three documents are critical.