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When it comes to wealth management, planning is everything. At BNY Mellon Wealth Management, planning underscores each of the five practices within our Active Wealth framework: investing to maximize compounding; borrowing strategically; spending dynamically; managing taxes; and protecting legacy.
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That last practice — protecting legacy — is where some of the most critical planning decisions occur. After all, one of the most important goals in creating sustainable, multigenerational wealth is to leave behind a legacy that supports an individual's family, values and philanthropic interests. This requires a significant amount of planning, both financial and non-financial, to protect assets against any unintended consequences — including taxes — that might threaten long-term goals.
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Tax efficiency can help reduce the detrimental effect that federal, state and local taxes on income, estates, capital gains and property can have on wealth. Tax-efficient investing can help combat costs in the short term, but there are other techniques that can mitigate costs over generations.
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About Policy and Taxation Group
Policy and Taxation Group is your voice in Washington on economic freedom. We advocate for policies that allow American families to fully enjoy the economic liberties and benefits of a robust free market unique to our nation. For over 25 years, we have been the loudest voice in the nation’s capital on eliminating the death tax. This ill-conceived tax has a destructive impact on families, family businesses, job creation, and the national economy.
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Have questions or would like more information about becoming a Supporter or donating? Please contact John Marino at [email protected].
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