Thoughts for Summer 2024

Most of you are well underway with summer plans and activities, likely including travel and time with family and friends. Suncoast Prosperity Advisors is also thriving with summer plans and enjoying great business growth, thanks to you!

We feel that summer is a good time to review and reflect on the status of your personal matters and to ensure your “house” is in optimal financial order.

Suncoast Prosperity Advisors believes successful wealth management includes a multi-prong strategy that considers tax and estate planning, philanthropy, legacy, and family culture.

We recognize each family’s situation is unique and can be fluid. We recommend our clients evaluate what may have changed as it relates to family status, health, employment/business, retirement outlook, legacy desires, etc.

Examples of questions to consider:

Are you planning on a life-changing event or did one happen to you/ your family recently? Are you planning to exit or sell a business, or to buy and/or expand a business? Has something occurred that has changed your legacy plans? Are your beneficiary designations on retirement accounts and insurance policies correct for your current wishes? Have you reviewed how your assets are titled, so they ensure a disposition the way that you want, and do you have them titled properly for suitable asset protection?

Financial matters often are at the heart of decision-making. The answers to these questions typically require you to take actionable steps to ensure your wishes and desires are executed. At Suncoast Prosperity Advisors, we want to understand your wishes and desires so that your overall ‘wealth picture’ is properly structured for the best possible outcome, now and into the future.

As a starting point, let us focus on your estate planning. We suggest that our clients have certain basic documents in place. You may or may not have this part of your house in order, but it is easy to accomplish with the right approach and mindset.

Here is a list of the basic documents we suggest:

-Revocable Living Trust

-Will

-Power of Attorney for Financial purposes

-Power of Attorney/ Healthcare Directive

-Living Will

We recommend you have these documents reviewed at a minimum every 3-4 years. Life happens, circumstances change, laws change, and as a result it is important to ensure that your estate planning documents, and legacy wishes are captured and documented accordingly. We work ‘hand-in-glove’ with your estate planning attorney to ensure this occurs.

Our country has major tax law changes occurring on December 31, 2025. Being prepared and having the aforementioned documents already created provides a solid foundation in the event additional add-on estate tax planning is needed.

Allow us to review whether the documents are accurate and up to date with your goals, and we will assist you with more complex consulting along with your attorney, CPA, and insurance professional, if needed. We want you to be able to give to whom you want, when you want, and at the lowest possible costs including expenses and taxes.

In addition to providing your investment guidance, we can assist and consult in the areas of retirement, business succession, financial and estate planning, charitable planning and gifting. We are here to help ensure your success; however you may define it!

Jeff has responsibility of overseeing SEM’s wealth management practice. In this capacity, Jeff is responsible for providing high net worth clients with unbiased, product neutral, advanced planning strategies, design, and implementation while working hand in hand with the firms’ financial advisors and portfolio management team. As an advanced financial planner, he can provide expertise in the following areas:
– Estate and Multi-Generational Planning
– Retirement Income and Cash Flow Analysis
– Business Continuity and Succession Planning
– Retirement Plans and Employee Benefits
– Risk and Liability Management Planning
– Charitable Giving Strategies
– Executive Compensation and Benefit Strategies

Professional History:
Jeff has over 30 years of experience in financial, tax and legal services. In addition to his role with SEM, Jeff has experience in public accounting and trust and estate law. He attained a post-doctoral fellowship in wealth strategies and has been a contributing author to two estate planning books. With degrees in both law and accounting, Jeff brings insight to the many aspects of financial planning. Prior to joining SEM, Jeff held various divisional leadership roles as an executive director at UBS, overseeing various product and service consulting areas as well as a divisional wealth planning strategist in the Southeast US. Jeff was also a Planning Director for MS Smith Barney, a Trust and Estates and Business Attorney and worked in the Tax Division of Ernst and Young CPAs.

Education and Personal Information:
Jeff has a Bachelor of Accountancy degree from the University of Mississippi “Ole Miss” and a law degree from Capital University. He holds several designations and securities licenses and is Life and Health Insurance licensed. Jeff is also a Chartered Retirement Planning Counselor (CRPC) and a Certified Exit Planning Advisor (CEPA). Jeff and his wife live in Tampa, Florida with their children and grandchildren. Jeff enjoys golf, music, college sports and being a “foodie.”