September 2021

biden tax plan

Understanding the Biden Tax Plan

Below we will discuss the current tax proposals that are being debated in Washington. Wade Financial Advisory will be evaluating the final enacted legislation to advise on its impact on our clients.

September saw the release of the Democrats’ full tax proposal, which details their plan to pay for expanding access to paid family leave, education, and healthcare, as well as efforts to combat climate change. The proposal is expected to provide more than $2 trillion in new revenue over the next ten years, mostly from high-income households and companies, and negotiations are currently underway. 

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estate planning

Considerations for Passing an Inheritance to Your Children

For many people, building wealth means the opportunity to leave an inheritance to their heirs. If you’d like to leave something behind for your children or grandchildren, it’s important to understand that it will impact much of your financial planning. For example, you’ll likely need to increase your savings and explore which tax-advantaged retirement plans are right for your unique situation, as well as thoughtfully consider your future health care needs.

In order to ensure your desire to leave some of your wealth to your children matches your financial capabilities, we’ll review eight essential personal finance considerations.

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