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Insights from Tom Moran AIF ®

Chairman | CEO | CIO Moran Wealth Management®

s 2023 draws to a close, I believe it’s an opportune moment 3- Delve into GRATs and Intra-Family Loans
to proactively manage your financial future. At Moran For those who have navigated their entire lifetime gift
AWealth Management®, we are dedicated to ensuring you exemption, there are still viable avenues to ensure a stabilized wealth
fully capitalize on every available opportunity, whether that is transition. GRATs, or irrevocable trusts, are mechanisms where
to optimize wealth transfers to your descendants, advance your you maintain an annuity for a specified term. Upon its conclusion,
philanthropic objectives, or strategize for income tax. residual assets migrate to predetermined beneficiaries. Intra-family
Here’s a concise checklist to guide you: loans, on the other hand, are financial lending to kin or trusts set
1- Capitalize on Annual Exclusion Gifts up for them. Both tactics enable the strategic transfer of asset
The IRS bestows an annual gift tax exclusion. This year, the appreciation. Conversations with financial advisors can provide
limit is set at $17,000 per recipient. Such provisions mean that for tailored insights into the feasibility and alignment of these methods.
every recipient, gifts up to this value do not affect your lifetime 4- Elevate Charitable Gifting
federal gift exemption, which is pegged at $12.92M for 2023 Philanthropy isn’t just a noble endeavor; it’s also a strategic
(or $25.84M for a couple). If one were to consider a family with one. Monetary donations or the gifting of appreciated assets to
two offspring and four grandchildren, the total gifts without charitable institutions can provide tax deductions. Mechanisms like
tapping into the lifetime exemption could sum up to $102,000 (or charitable remainder trusts or charitable lead annuity trusts further
$204,000 for spouses jointly gifting). diversify options. For those aged 70.5 and beyond, considering
Additionally, if you’re considering contributing to the education qualified charitable distributions from IRAs of up to $100,000
of younger family members, the 529 Qualified Tuition Plan is an might be beneficial.
excellent avenue, allowing an accelerated gift of up to $85,000 in 5- Convene a Family Gathering
2023. Notably, tuition and medical fees paid directly to institutions As the holidays approach, it is an ideal time to hold gatherings
don’t count towards your lifetime gift exemptions or the yearly focused on legacy discussions. Every family’s narrative is unique,
exclusions. and such meetings provide an opportunity to reaffirm shared
2- Harness the Lifetime Federal Gift and GST Exemption values, recount historical anecdotes, and define future aspirations.
Beyond annual exclusions, for those contemplating sizable Navigating these discussions can be intricate, and seeking guidance
transfers, the IRS provides a generous lifetime gift and GST from trusted advisors can streamline the process.
exemption. Before 2023 concludes, gifts up to $12.92M can be In summary, Moran Wealth Management® is committed
made without incurring gift taxes. However, it’s worth noting to partnering with you in navigating your financial goals as you
that post-2025, this exemption is expected to reduce. To ensure prepare for the holidays and the new year. Our aim is to realize your
intergenerational wealth continuity, considering such gifts philanthropic, financial, and legacy aspirations as 2023 concludes.
is invaluable. While legislative shifts are always a possibility, We are neither your attorneys nor your accountants and no portion of this material should be interpreted
embarking on proactive discussions is essential. Now might be by you as legal, accounting or tax advice. We recommend that you seek the advice of a qualified attorney
an opportune time to make significant gifts to a spousal lifetime and accountant. Moran Wealth Management ®, LLC is a registered investment adviser. For additional
information about Moran Wealth Management® , LLC, including its services and fees, request the firm’s
access trust or another GST-exempt trust. disclosure brochure using the contact information above or visit adviserinfo.sec.gov.
Moran Wealth Management® is a separate entity and not affiliated with any other entity or
practice that uses the same name.
www.Thomas.Moran@MoranWM.com
Tom Moran Phone: 239.920.4440 www.MoranWM.com
AIF® Chairman, CEO, CIO Moran Wealth Management® Fax: 239.431.5239 5801 Pelican Bay Blvd, Suite 110,
Naples, FL 34108

Investment products and services are offered through Wells Fargo Advisors Financial Network, LLC (WFAFN). Moran Wealth Management is a separate entity from WFAFN. 1221-04126
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