End-of-Year Planning Starts Now

Some benefits of early EOY planning

While it might feel early to start thinking about your end-of-year financial plans, the late summer and early fall can serve as a natural point to stop and think about your goals for the rest of the year. 

Starting to explore your options now can give you and your family extra space and time to revisit your strategy and make new plans if necessary. With that in mind, we wanted to share a few key areas we can review before the end of the year to ensure your strategy remains aligned with your goals. 

Key Areas To Review Ahead of the End of the Year

• Check in on your taxes – Running a tax projection midyear or before the fall can provide clarity on where you stand. It can help uncover potential surprises or opportunities while there’s still time to make adjustments to funds set aside to cover your tax liability. 
• Charitable giving plans – If charitable giving is part of your plan, now is a good time to decide what type of gift makes the most sense. Cash, appreciated securities, donor-advised funds, and qualified charitable distributions can all be strong options, but each may take time to evaluate, coordinate, and document properly.
• Annual gifting strategies – Gifting can support family members, education planning, or broader estate goals, but it should be handled carefully. If gifts may involve multiple recipients, trusts, or larger transfers, it helps to plan early so that reporting and documentation do not become a year-end rush.
• Concentrated holdings – A large position in one stock, business, or other asset can increase risk, especially if that position has grown over time. Review how much of your net worth is tied to one holding, what the tax impact of trimming it might be, and whether a gradual reduction or rebalancing strategy makes sense.

If you’d like to review your current positions and discuss possible year-end planning moves, please don’t hesitate to reach out. A timely review can help identify opportunities and avoid last-minute pressure.