Resources for You

While Piedmont’s team members are experts in their fields, we also believe in continuing to educate ourselves and our clients. This page includes links to professional articles, relevant websites, and Piedmont client stories.

Wednesday, February 10, 2021 Piedmont Investment Call 2021

Hosted by Mike Shields, John Simms, Daniel Smith, and Eric Riedlin of Monticello Associates.

 

Listen in as Eric Riedlin of Monticello Associates joins Mike, John, and Daniel to review 2020 and look ahead to 2021! The information referenced in the recording is available below and titled as Piedmont Investment Slides. Please reach out to us if you have any questions or comments. Thank you to those who joined us and those who listen later. Here’s to a very successful 2021!

  Piedmont Investment Slides  

  Piedmont Investment Call Audio File  

December 10, 2020 Locking in Tax Savings, Piedmont Provides Guidance

In the midst of a chaotic 2020, clients desire certainty. Estate planning has never been more important or top of mind.

One particular client with substantial assets wanted to ensure that she could use the current sizable gift tax exemption in 2020. She was not comfortable giving her assets away to her children because of the concern that she and her husband might need her wealth down the road.

Piedmont introduced the client to an experienced estate tax attorney who, at Piedmont’s suggestion, drafted a spousal lifetime access trust (SLAT) to accomplish the client’s goals. The husband understood that he would have the flexibility to avail himself of the trust assets if needed. That certainty gave the client and her husband much comfort that, upon the wife’s eventual death, her estate tax would be minimized, her children would benefit, and the trust assets would still be available to her husband for life. 

Piedmont has over 90 years of experience in helping families work through major life and financial transitions. To learn more about how we have assisted families in times of uncertainty, please contact us!  Our experienced team would love to assist you with an estate plan review at any time.

September 17, 2020 Seeking to Reduce Investment Risk, Piedmont Provides Guidance

A business owner has focused her time on growing her business. As her assets grow, she contacts Piedmont for investment advisory services, realizing that her investment portfolio is quite concentrated.

She is grateful for the security of her business. However, given increased market volatility due to the COVID-19 pandemic, she seeks guidance in repositioning her portfolio.

The client’s Piedmont team evaluated her portfolio and provided guidance on reallocating her investment dollars. She deeply appreciated the time Piedmont spent and the strategic steps Piedmont took to help her create a diversified portfolio in a tax-efficient manner.

We are calm, confident, and ready to assist during this unexpected and challenging time.

June 12, 2020 Sleeping Better at Night, Piedmont Offers Guidance

In this uncertain and unprecedented COVID-19 environment, a client family of Piedmont is focused on transitioning back to the office from working remotely, arranging childcare, and keeping their household running.

Tax laws are evolving rapidly, and this couple does not have the capacity to review all the changes and understand the implications for them.

Piedmont’s tax team stays current on tax law changes to determine how clients can benefit. Piedmont reached out to the couple informing them that their children could save income tax due to a recent retroactive change in the Kiddie Tax rules. Piedmont’s team amended the children’s prior returns, and they received refunds.

We are calm, confident, and ready to assist during this unexpected and challenging time.

Monday, February 17, 2020 Piedmont Investment Call 2020

Hosted by Mike Shields, John Simms, Daniel Smith, and Eric Riedlin of Monticello Associates.

 

Listen in as Eric Riedlin of Monticello Associates joins Mike, John, and Daniel to review 2019 and look ahead to 2020! The information referenced in the recording is available below and titled as Piedmont Investment Slides. Please reach out to us if you have any questions or comments. Thank you to those who joined us and those who listen later. Here’s to a very successful 2020!

Piedmont Investment Slides

Piedmont Investment Call Audio File

November 18, 2019 Piedmont Provides...Trusted Protection

A widow and widower, each with their own families, married each other late in life. The wife wanted her family to benefit from her estate tax exclusion, so she was reluctant to split gifts with her wealthier husband and potentially use part of her exclusion. Solving the problem was particularly important because the wife wanted to be sure that her estate provided for her handicapped grandchild.

Piedmont advisors customized a plan to benefit both families, and the wife and her family are now comfortable that their collective financial interests are protected.

Piedmont has more than 90 years of experience in helping families work through major life and financial transitions. To learn more about how we have assisted families in these types of situations, please contact us! Our experienced team would love to assist you with an estate plan review at any time.

 

Louise Maultsby Bristol
Senior Trust Officer
Louise.bristol@piedmonttrust.com
336.574.8662

October 11, 2019 Be Prepared for an Untimely Death

Whom should I call when something happens to my spouse?

We are often asked this question. Life throws all of us difficult circumstances, and Piedmont's caring competent team is ready to assist during these distressing times. Here's an example:

Problem: An untimely death

A client retired on December 31, excited about her next phase of life including relaxing travel and more time with grandchildren and her already-retired husband. Just six months later, her husband died suddenly from a heart attack after a Sunday afternoon playing golf.

Piedmont Capability: Providing calm during the storm

We were among the first calls the wife made following her husband's untimely death. We stepped in to assist with various projects ranging from arranging cremation details to packing up her husband's belongings. We viewed these assignments as a critical part of our service to this family.

Result: Informed decision making

We walked alongside the family as they recovered from their tragic loss. Our knowledgeable team members have seen a surviving spouse rush into the "to dos" of the estate administration because doing something - anything - feels like progress, but we know that it's important to take time before making financial decisions.

In an uncertain and upsetting time, Piedmont is a trusted and reliable resource. Knowing that, our client gave herself permission to slow down and grieve. Because we are prepared to help clients deal with grim situations, we were ready at the appropriate time to help her

with the next phase of decision making just as she and her husband had planned. As we assisted our client, we let her know of a recent Supreme Court case* that will benefit her family going forward because related family trusts won't have to file income tax returns in as many states as they have in the past. Our team members stay up to date on changes in state and federal law and look for opportunities like this to talk with clients about how these changes affect their family.

Piedmont has more than 90 years of experience helping families work through major life and financial transitions. In a time when the wealth management industry is dominated by large institutions, Piedmont offers an alternative: confidential, professional, and personal service focused exclusively on the complexities of family wealth.

*North Carolina Department of Revenue v. Kimberly Rice Kaestner 1992 Family Trust, 588 U.S.__(June 21, 2019)

To learn more about how we have assisted families, please contact us!

 

Louise Maultsby Bristol
Senior Trust Officer
Louise.bristol@piedmonttrust.com
336.574.8662