As the year draws to a close, you might find yourself reflecting on everything you’ve accomplished. Yet, while celebrating successes is important, this is also the perfect time to ask a critical question: Is your wealth truly protected? For those who have worked hard to build their success, ensuring financial security isn’t just a task—it’s a responsibility.

At Finley Davis Financial, we understand what’s at stake. From managing potential liabilities to safeguarding your wealth for future generations, we’re here to help you take meaningful action before year-end. Let’s explore why now is the time to focus on asset protection and the strategies that can help secure your legacy.

The Pain Point: Vulnerability
Success brings opportunities, but it also brings exposure. Without a proactive asset protection strategy, your wealth could be at risk from:
• Legal threats: Lawsuits, divorce, or business disputes can quickly undermine your financial stability.
• Market volatility: Fluctuations in the economy or markets can jeopardize your investments without a well-diversified portfolio.
• Tax inefficiencies: Without proper planning, estate and income taxes can eat away at your wealth.

For many high-net-worth individuals, the biggest concern is not just protecting today’s wealth but ensuring it grows and transfers efficiently to future generations. The end of the year offers a powerful opportunity to assess these vulnerabilities and take strategic action.

Year-End Strategies for Asset Protection
The clock is ticking, but there’s still time to make meaningful changes that will safeguard your business and personal wealth. Here are the strategies we recommend:

1. Review Your Estate Plan:
   The current federal estate tax exemption is scheduled to sunset in 2026, which could result in higher taxes for your estate. By acting now, you can leverage tools like irrevocable trusts or gifting strategies to reduce your taxable estate and protect your legacy.
2. Consider Liability Shielding:
   Business owners should review their corporate structures to ensure adequate liability protection. For personal assets, consider asset protection trusts or umbrella insurance policies to guard against unforeseen legal challenges.
3. Diversify Investments:
   Economic uncertainty makes diversification critical. Rebalancing your portfolio at year-end ensures you’re not overly exposed to a single market sector, reducing potential risks while maintaining growth opportunities.
4. Utilize Retirement Accounts for Protection:
   Contributions to qualified retirement accounts, such as 401(k)s or IRAs, can provide asset protection in many states while offering tax-deferred growth opportunities.
5. Tax Planning for Wealth Transfer:
   The annual gift tax exclusion allows you to transfer up to $17,000 per recipient in 2024 without triggering tax implications. Use this strategy to reduce your estate’s taxable value and support your heirs.
6. Protect Your Business Interests:
   For business owners, ensuring your operating agreements, buy-sell agreements, and succession plans are up to date can protect your enterprise from disruption and preserve its value for the future.

Finley Davis Financial: Your Advocate in Comprehensive Wealth Protection
Protecting your wealth is more than a checklist—it’s about safeguarding the foundation of your life and ensuring that your legacy remains intact for generations. At Finley Davis Financial, we understand that your financial success is deeply personal, and our mission is to provide private wealth management strategies that reflect your unique values, priorities, and ambitions.

As your advocate, we’re not just reactive; we’re proactive. Our approach goes far beyond surface-level solutions, addressing the complexities and vulnerabilities that come with significant wealth. Whether it’s shielding your assets from unforeseen liabilities, structuring your estate to minimize tax burdens, or ensuring your business interests are protected through sound planning, every recommendation we make is tailored to your goals.

Contact us to discuss your unique situation.

_{Tax and legal services are not provided by Lion Street Financial, LLC, and Lion Street Advisor, LLC.}