Navigating the Maze of Charitable Giving and Trusts with Melissa Wolf
Owner's Corner by SYM Financial Advisors
Release Date: 08/28/2023
The Entrepreneur’s Path: Scott Holmes on Growth, Risks, and Retirement
Owner's Corner by SYM Financial Advisors
In today's episode of the Owner's Corner Podcast, host Seth Whicker is joined by Scott Holmes, founder of ABI Attachments and Managing Partner at PivotPoint Company. Scott shares his journey from starting ABI Attachments to his current role in merger and acquisition work with PivotPoint. He discusses the importance of having a strong team, the challenges business owners face in preparing for sale, and the value of investing in infrastructure and strategic partnerships. Throughout the episode, Scott emphasizes the significance of being prepared, taking risks, and surrounding oneself with...
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From Global Sales to Local Impact: The Journey of Entrepreneurship with Edward Hayes
Owner's Corner by SYM Financial Advisors
In this episode of the Owner's Corner podcast hosted by Seth Whicker, special guest Edward Hayes discusses the intricacies of the sign business and his journey as a business owner. The conversation delves into the importance of understanding client needs and maintaining a consistent brand message, as well as the diverse industries served by Hayes Design Co. Hayes shares his transition from a global sales career to entrepreneurship, highlighting the challenges and rewards of taking over Burkhart Signs amid the COVID-19 pandemic. He emphasizes the significance of company culture and the...
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Charting the Behavioral Landscape: A Journey of Compassion and Coaching with Steve Gundy
Owner's Corner by SYM Financial Advisors
In this episode of the Owner's Corner podcast, host Seth Whicker converses with Steve Gundy, a seasoned professional in behavioral health and owner of a coaching practice. Gundy shares his journey from his first job mowing lawns to establishing a practice that serves individuals with developmental disabilities, leveraging his personal and professional experiences to build a successful business. He emphasizes the importance of aligning with state regulations, the challenges of service delivery, and the personal fulfillment derived from genuinely helping others. Looking ahead, Gundy aspires to...
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Packaging Unwrapped: A Journey through the Medical Device Industry with Tim Early
Owner's Corner by SYM Financial Advisors
In this episode of the Owner's Corner, host Seth Whicker welcomes Tim Early, CEO of DreamOn Group, for a deep dive into his entrepreneurial journey. Tim's story begins with a move from upstate New York to Florida, marking the start of his career in the medical device industry. His narrative is not just about career choices but also highlights his entrepreneurial spirit. Tim shares candid insights into his early attempts at starting several businesses, discussing the challenges and setbacks he faced along the way. These experiences, though not immediately successful, were instrumental in...
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Bridging the Gap: How Matt Roskuski Helps Companies Work as One
Owner's Corner by SYM Financial Advisors
Owner of Status Go Consulting, Matt Roskuski, has over two decades of executive-level sales and marketing experience. He has worked for organizations of all sizes, from small privately-owned companies to global giants. His experience spans a diverse collection of industries including technology, telecommunications, manufacturing, consumer products, ecommerce and healthcare. Matt’s a native of Ft. Wayne and has a degree in Management from Purdue - West Lafayette. Early in his career, he spent nine years in Colorado and Southern California before returning home for good. ...
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Want to Sell Your Business? Critical Steps to Exit Planning Revealed with Gordon Bell
Owner's Corner by SYM Financial Advisors
Gordon Bell is the Founder and CEO of The Midland Group, a business advisory firm based in Fort Wayne, Indiana. Founded in 1991, The Midland Group has advised clients - both national and international with revenues ranging from $10 million to $5 billion - across a range of industries: manufacturing, distribution, service, and retail. The Midland Group, along with its strategic alliance partners, offers advisory services in Leadership Development, Succession Contingency Planning, Sales and Marketing, Business Development, Operational Excellence, Corporate Development, Mergers and Acquisition,...
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How a Values-Driven Culture Attracts Ideal Clients with Matt Schrock
Owner's Corner by SYM Financial Advisors
In this episode Matt Schrock discusses the journey that led him to joining the family construction business, DJ Construction. He talks about how DJ Construction was started by his grandfather and uncle in 1954 and has grown over the decades to include an office in Kalamazoo, Michigan. Matt describes DJ Construction's leadership structure and how they ensure the right people are in the right roles. He also discusses DJ Construction's focus on their core values of integrity, commitment, relationships, and excellence. Additionally, Matt explains how DJ Construction is putting a dent in the...
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Navigating the Maze of Charitable Giving and Trusts with Melissa Wolf
Owner's Corner by SYM Financial Advisors
Melissa Wolf, CPA joined Baden Gage & Schroeder, LLC in 2012 with over seven years of tax experience specializing in gift, trust and estate planning. She directs tax engagements for clients with personal income, fiduciary income and gift tax service needs. Melissa has extensive experience in assisting clients with the formulation of retirement and estate plans. Melissa joins me for a powerful conversation spanning various topics, from Melissa's diverse journey to becoming a CPA, to nuanced aspects of charitable giving, donor-advised funds, and the utilization of various trusts. We discuss...
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When Passion, Community, and Business Meet with Maggie Browning
Owner's Corner by SYM Financial Advisors
Maggie Browning is the Franchise Partner of the Burn Boot Camp locations at Fishers and Zionsville, Indiana. Burn Boot Camp is a network of fitness facilities that envisions a world where women love themselves today and are inspired by who they’ll be tomorrow. Before working with Burn Boot Camp, Maggie worked as the Deltek Systems Analyst at Walker Consultants and the Project Administrator at McShane Construction Company. She holds a Bachelor of Science in Business Management and Administration from Bradley University. Maggie joins me today to discuss the advantages and challenges of...
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Running and Growing a One-Person HVAC Business with Reid Arnold
Owner's Corner by SYM Financial Advisors
Reid Arnold is the owner of Arnold Mechanical LLC. Reid began his journey in the HVAC industry at the young age of 10 in his family’s small heating and air company. He became more involved in the family business and learned more about the trade as he got older until, at age 21, he started a career in law enforcement. In 2021, Reid left the police department and began providing heating, remodeling, electrical, and plumbing services before focusing his work on HVAC and founding Arnold Mechanical. Reid joins me today to share what it takes to grow a one-man HVAC and home maintenance...
info_outlineMelissa Wolf, CPA joined Baden Gage & Schroeder, LLC in 2012 with over seven years of tax experience specializing in gift, trust and estate planning. She directs tax engagements for clients with personal income, fiduciary income and gift tax service needs. Melissa has extensive experience in assisting clients with the formulation of retirement and estate plans.
Melissa joins me for a powerful conversation spanning various topics, from Melissa's diverse journey to becoming a CPA, to nuanced aspects of charitable giving, donor-advised funds, and the utilization of various trusts. We discuss the mechanics of revocable and irrevocable trusts, as well as family and personal residence trusts, and how they can be effectively used in estate planning. Indiana's unique charitable credits, gift tax return protocols, and strategies to maximize tax benefits for charitable donations were also highlighted. This conversation shines a light on the legalities of gifting and the importance of collaboration among financial advisors, accountants, and attorneys for optimum planning.
This week on The Owner’s Corner:
- How to use donor advised funds for charitable giving.
- Do you need a check before giving?
- What is a revocable trust?
- How long will a family trust last?
- What if the beneficiary is not ready to handle the assets?
- How to use a trust in estate planning?
- The purpose of the gift tax return.
Our Favorite Quotes:
- “So one that I've seen that I really do like is matching their earned income. Yes, a lot of times when someone's setting up a trust, they want to make sure there's still a work ethic out there for the kids and the grandkids. So one that I love is matching their earned income or matching two times their earned income. That's a great one.” - Melissa Wolf
- “We review all of our beneficiaries every year with each client, to try to make sure along with their estate plan that everything's still aligning, because things do change, circumstances change.” - Seth Whicker
- “You would want to put something in that is going to grow, not something that already has grown. You don't want to put your lake home that already has $400,000 for the appreciation because you're not gonna get a step up on your basis.” - Melissa Wolf
Connect with Melissa Wolf:
- Email: [email protected]
- LinkedIn Baden Gagen & Schroeder, LLC.
About SYM Financial and The Owner’s Corner Podcast
The Owner’s Corner is a show for business owners. In each episode, host and financial planner Seth Whicker sits down with business owners and the professionals that serve them to talk about what it takes to build a business. Our guests come from many industries and walks of life to share their biggest wins, mistakes made along the way, and their thinking about the all-important exit planning.
Email Seth at [email protected] with questions, comments, and to schedule a one-on-one conversation.
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Disclosure: This material is not an offer or solicitation to buy or sell any product and does not constitute as investment, legal, or tax advice and should not be used as a substitute for the advice of a professional legal or tax advisor. The opinions expressed herein are those of SYM and are subject to change without notice. SYM recommends you engage your CPA/tax preparer to for tax strategies specific to your circumstances. Certain links above are to third-party sites and are not affiliated with SYM Financial Corporation (“SYM”). SYM is an independent investment adviser registered under the Investment Advisers Act of 1940, as amended. Registration does not imply a certain level of skill or training. More information about SYM, including our investment strategies, fees and objectives can be found in our ADV Part 2, which is available upon request.