In recent weeks, we’ve witnessed devastating fires raging through parts of California, leaving countless families facing the unimaginable. For many, their homes—long seen as the cornerstone of the American Dream—were reduced to ash. It’s a stark reminder that while homeownership is a worthy goal, it shouldn’t be the only focus of our financial journey.
As we move forward, it’s essential to ask ourselves: Are your assets truly protected? Are they diversified in ways that minimize risk? And perhaps most importantly, are you setting up a financial legacy that will ensure your children are well taken care of, no matter what challenges arise in the future?
The harsh reality is that we live in a world where natural catastrophes—like the hurricanes that have impacted Florida or the wildfires in California—are becoming more frequent. With the unpredictability of climate change, geopolitical shifts, and economic volatility, it’s more important than ever to take a proactive approach to your financial planning.
The Power of Diversification
While homeownership has long been a central pillar of financial success, it’s crucial to understand that wealth should be built on a foundation that includes a variety of assets. Diversification is one of the most powerful tools you can leverage to safeguard your wealth. By allocating assets across different investment vehicles—such as stocks, bonds, real estate, gold, Bitcoin, private credit, municipal bonds, and other assets globally you can manage your risk more effectively. This way, even if one sector or geography faces challenges, your broader portfolio remains strong.
Creative Solutions for Liquidity
It’s also important to pay attention to liquidity, but this doesn’t just mean having cash on hand. In fact, one of the most creative ways to address liquidity is by designing a portfolio that can solve for specific needs, such as income generation or funding yearly expenses for your estate. Liquidity is not just about immediate access to cash—it’s about building a portfolio that provides flexibility and access to resources when you need them most.
For example, you can strategically incorporate income-generating assets like private credit, municipal bonds, and dividend-paying stocks, all of which can provide consistent cash flow for ongoing expenses or emergencies. You can also create liquidity through the careful use of non-traditional assets like gold or cryptocurrency, which may be liquidated or converted to cash in times of need or in times of opportunity. Having liquidity means optionality. The key is to think creatively about how your investments can work together to create a comprehensive strategy that meets your cash flow needs while continuing to appreciate over time.
This approach goes beyond just thinking about the stock market or homeownership—two options that are often seen as the default. With the right balance of liquid and illiquid assets, you can build a portfolio that not only protects and compounds wealth but also provides the necessary liquidity to meet your financial goals and those of your heirs.
Protecting Your Legacy with Trusts
One of the most challenging aspects of natural disasters for parents is the worry about what will happen to their children if there is no house to pass down. The loss of a home can feel like the loss of a family legacy—something built with years of effort and sacrifice. But it’s important to remember that your legacy is not limited to real estate. There are many ways to ensure that your children are taken care of, even if a house is no longer part of the equation.
A well-structured trust can be an incredibly powerful tool for protecting your wealth, no matter the asset type. In fact, trusts can hold a wide variety of assets—ranging from real estate to stocks, bonds, gold, Bitcoin, private credit, and even business interests. By placing these assets into a trust, you can not only protect them from creditors, probate, and potential disputes, but you can also ensure that they are distributed according to your wishes.
This strategy allows you to create a legacy for your children and future generations, offering them financial security and peace of mind, no matter what happens to your home. Whether it’s an inheritance of diversified investments, income-generating assets, or other appreciating assets, a trust ensures that your legacy is preserved and protected.
Building Resilience Through Financial Well-Being
In times of uncertainty, it’s natural to feel anxious, especially when your home, your investments, and your future seem vulnerable. But just as we focus on mental well-being to build resilience and cope with stress, the same approach can be applied to our financial well-being. Money, after all, is one of the leading sources of anxiety for many people.
Building a resilient financial foundation—through diversified assets, trust structures, and strategic planning—can offer peace of mind in the face of adversity. It’s about creating a financial framework that supports you through life’s uncertainties, just like mental wellness strategies help us navigate emotional challenges. The more you can plan, diversify, and protect your wealth, the more resilient and confident you’ll feel, even when the unexpected happens.
Start the Conversation Today
The recent events in California and Florida remind us all of the importance of being prepared. If you’re ready to explore how diversification, trust structures, and other wealth-preserving strategies can help secure your financial future, we invite you to start a conversation with us.
Together, we can create a roadmap that not only helps protect your wealth but also gives you the freedom to focus on what truly matters—your family, your passions, and your legacy.
Let’s take the next step in your financial journey—one that goes beyond homeownership and secures a future built on strength, stability, and peace of mind.
If you’re interested in learning more about Bespoke’s approach to private wealth management and how we can help you build a secure financial future, we invite you to reach out to us directly. We’d be happy to set up a confidential consultation at your convenience.
Thank you for considering Bespoke as your partner in wealth management. We look forward to the opportunity to work with you.
The following information is intended for general educational purposes only and should not be construed as legal or investment advice.
On Day 3 of the Onchain Giving Summit hosted by Endaoment, Bespoke founder Matt McClintock speaks to Adam Blumberg, Bespoke Client Services Associate and co-founder of Interaxis, about the importance of incorporating philanthropy into estate planning.
Navigating the intersection of charitable giving and tax planning can unlock significant financial and philanthropic opportunities. Whether you’re looking to maximize your tax benefits, manage appreciated assets, or support causes you care about, various strategies can enhance both your financial plan and charitable impact.
Maximizing Tax Benefits Through Charitable Giving in Estate Planning
Charitable giving is a powerful way to support causes you care about, and it can also play a key role in estate planning. Whether making outright gifts to family members or donating to charitable organizations, there are significant tax benefits available. For cash gifts to qualifying charities, you can deduct up to 60% of your adjusted gross income (AGI). Donations of property, such as real estate, offer deductions ranging from 20% to 50% of AGI, depending on the type of asset and charity. Thoughtful philanthropy not only helps others but can also create lasting tax advantages for your estate.
Navigating Charitable Donations of Cryptocurrency: Timing and Appraisals
When donating cryptocurrency or digital assets to charity, it’s essential to establish the value at the time of the gift. For tax deduction purposes, the gift must be supported by a qualified appraisal, just like any other donation. Fortunately, there are expert appraisers who specialize in valuing digital assets like Bitcoin, ensuring accurate reporting for charitable contributions.
Raise Your Charitable Impact with a Donor-Advised Fund
Donor-advised funds (DAFs) are a smart, flexible option for individuals looking to make large charitable gifts but aren’t yet sure where to direct the funds. After experiencing a major income tax event, many donors want to secure a significant charitable deduction without needing to decide immediately which charities to support. A DAF allows donors to contribute now, receive the tax benefit, and take their time selecting causes to fund later. It’s an ideal solution, especially when gifting non-traditional assets like cryptocurrency. With tools like DAFs, philanthropy becomes more adaptable, offering greater control and financial benefits for donors.
Leverage Charitable Lead Trusts for Tax Benefits and Future Generational Wealth
A charitable lead trust offers a strategic way to support charities while benefiting your heirs. By establishing this trust, you direct it to make fixed annual payments to a qualifying charity, such as a donor-advised fund or family foundation, for a specified term (e.g., 10 or 20 years). At the end of this period, any remaining trust assets transfer gift-tax-free to your chosen beneficiaries, like your children. Additionally, you can receive an upfront tax deduction based on the trust’s initial value. This setup not only supports charitable causes but also provides tax advantages and protects your heirs’ future interests.
Unlock Tax Benefits and Charitable Impact with a Charitable Remainder Trust
A Charitable Remainder Trust (CRT) is a savvy tool for managing appreciated assets like Bitcoin or ETH while supporting charitable causes. By transferring these assets into a CRT, you avoid immediate capital gains taxes when the trust sells them. Instead, you receive an income stream from the trust for a set period or for life. At the end of this term, the remaining assets go to your chosen charity. This strategy not only maximizes your charitable impact but also provides you with tax benefits and ongoing income, making it a powerful option for both philanthropy and financial planning.
This information is intended for general educational purposes only and should not be construed as legal or investment advice.
Large financial institutions are often known for their global reputation, robust resources, and established trust. But when managing significant wealth, it’s critical to look beyond the name and ask these questions to truly understand who is helping manage your wealth.
How do you ensure that your unique interests are prioritized?
Are the relationships with your advisors meaningful and built to last?
Is the institution’s commitment to your success consistent and aligned with your long-term goals?
These are questions worth considering regardless of the size of the wealth manager. However, they are easier to answer when you work directly with individuals who understand your personal journey and are invested in your future. This is where smaller Private Wealth Managers (PWMs) and Multi-Family Offices (MFOs) offer distinct advantages.
Alignment of Interests and Incentives
Large financial institutions often have proprietary investment funds they are incentivized to promote. This can complicate decisions about what’s best for the client. We do not offer any in-house investment products, nor do we have investment quotas. Our sole focus is on providing strategic guidance that aligns with the client’s personal objectives.
Another way we align our services with our clients is by operating on a fixed-fee model rather than hourly rates. This approach encourages a regular and ongoing dialogue with our clients and allows flexibility to modify strategies as needed. This model reduces any stress or concern about billable hours and helps us to focus on the client’s long-term success.
We measure success not by assets under management but by the impact we help our clients create.
Discretion and Privacy
Discretion and privacy are often underappreciated in wealth management but can be critical when it comes to inheritance and legacy planning. Large institutions often do not prioritize privacy in a way that smaller firms do.
At Bespoke, we emphasize discretion throughout the wealth management and inheritance transfer process. From safeguarding your assets from potential creditors to structuring your inheritance to avoid public judicial proceedings, our strategies are designed with privacy in mind. We believe in taking ownership of this process and being proactive to ensure that you retain as much control as possible over how your wealth is distributed.
Self-sovereignty is planning for and exercising your ability to maintain control of the process and keep your financial affairs outside of the public court system. Working with a small, trusted team of advisors like ours allows for more careful planning, ensuring that your personal affairs remain private, both during your lifetime and after.
A Personal Approach and Building Long-Term Relationships
It can be easy for large institutions to fixate on investment returns and lose sight of what matters most—your legacy, values, and protecting your family’s future. Achieving this depth of understanding can be challenging with larger institutions, where the relationship may feel impersonal and transactional.
Wealth management should be considered in the context of how you can live the best version of your life by leveraging your wealth and creating a framework for your family and future generations to do the same. Clients must think deeply about what their wealth means to them. At Bespoke we ask our clients ‘what kind of life do you want your children to have? How can you ensure that your values are passed on and respected?’ Legacy planning is about properly preparing the transfer of ownership to future generations in a thoughtful and organized way. For a thoughtful conversation on these topics, please listen to our Co-founder Matt McClintock’s conversation with Jacob Shapiro (Head of Geopolitical & Macro Research, Senior Client Relationship Manager, Bespoke) on The Jacob Shapiro Podcast – Matt McClintock: The Good Life and Personal Sovereignty: Introducing Bespoke.
Smaller MFOs focus on building long-term relationships with a foundation of trust and respect. By deeply understanding the client’s family dynamics, personal goals and financial aspirations, we create tailored strategies that reflect not just financial goals but generational legacies. This is difficult to replicate at larger institutions, where the volume of clients and conflicting priorities can dilute personal attention.
Comprehensive and Holistic Planning
There are many variables at play and implications to consider in estate planning, with smaller PWMs and MFOs uniquely positioned to offer guidance and planning that is more thoughtful and holistic. Larger institutions may offer similar services, but smaller firms with highly experienced and knowledgeable advisors excel in designing comprehensive, cohesive and one-of-a-kind wealth strategies.
At Bespoke, we offer a fully integrated service that includes investment management, tax mitigation, estate planning, philanthropic strategies, and specialized asset protection. Our clients often seek privacy, the protection of wealth from predators, family-controlled governance structures, and customized solutions to manage complex or concentrated assets.
We also work closely with clients to strategically deploy financial capital to their communities in ways that align with their values. In The Last Trade: The Bitcoin Heritage Blueprint with Matt McClintock (1:25:05), Matt describes multiple examples of UHNWIs who have made commitments to improve communities that are deeply important to their lives.
Customized Investment Solutions
Smaller PWMs and MFOs often provide more flexible and tailored investment strategies than large institutions, which can be limited by standardized offerings. At Bespoke we can design strategies that reflect our client’s unique risk profile, family dynamics, and long-term goals. We aren’t bound by institutional mandates or investment quotas, allowing us to focus entirely on what makes sense for each client.
This includes managing risk across multiple jurisdictions, creating investment opportunities in emerging markets or alternative asset classes, and leveraging opportunities that large institutions may overlook due to their scale. We maintain a broad view of markets, new technologies, and global opportunities, balancing these with a long-term perspective on risk management. Our expertise in legal and tax strategies enables us to navigate even the most complex situations.
For example, we work with a number of early bitcoiners who understand the trajectory of this new asset class. Working with and prioritizing an allocation to bitcoin while it’s experiencing its monetization phase is incredibly important when considering asset allocation. We’re able to step back and understand the opportunity cost of premature portfolio rebalancing in this environment.
Flexibility and Iteration
Wealth management is a dynamic process. Everything in life is subject to change, often in ways we can’t control. Markets shift, regulations change, and family circumstances evolve. We believe wealth planning is an iterative process that requires ongoing dialogue. Our strategies are designed to be flexible, allowing us to make adjustments as family requirements change.
This level of adaptability is often harder to achieve with larger institutions, where processes are more rigid and transactional. Smaller PWMs and MFOs excel in maintaining this level of flexibility, allowing them to better serve clients in an ever-changing environment.
The most important thing to consider with estate planning is that every individual and family has unique needs and deserves a thoughtful well-designed wealth management strategy. Smaller PMWs and MFOs have proven time and again that they can provide an equal level of services that are often more personalized and customizable.
If you’re interested in learning more about Bespoke’s approach to private wealth management and how we can help you build a secure financial future, we invite you to reach out to us directly. We’d be happy to set up a confidential consultation at your convenience.
Thank you for considering Bespoke as your partner in wealth management. We look forward to the opportunity to work with you.
The following information is intended for general educational purposes only and should not be construed as legal or investment advice.
Trusts are commonly used in estate planning as they allow individuals to modify their relationship with their assets. Irrevocable trusts, in particular, offer various tax advantages, privacy, and wealth protection. However, establishing an irrevocable trust requires surrendering some control over the assets, highlighting the need for a trustworthy trustee. Private trust companies address this by combining the professionalism of a professional fiduciary with family control and involvement.
PTCs are especially beneficial for families with concentrated assets like family-owned businesses or real estate, as they provide expertise and continuity in managing such assets. They also offer scale and flexibility for families with diverse liquid assets, creating pooled investment vehicles to minimize costs and access otherwise unattainable opportunities.
Wyoming is highlighted as a leading jurisdiction for establishing and operating PTCs. The state offers favorable tax laws, including no taxes on income, capital gains, gifts, or estates. It also provides robust privacy and asset protection, keeping details about PTCs and the trusts they manage confidential.
Private Trust Companies: Unlocking Control and Flexibility in Strategic Estate Planning outlines the structure and governance of PTCs, emphasizing the importance of selecting board members and officers carefully. It recommends establishing Wyoming as the situs for PTCs and undertaking ongoing administration and compliance tasks. It also discusses the distinction between regulated and unregulated PTCs, with Wyoming permitting both types.
In conclusion, PTCs offer a powerful tool for strategic estate planning, enabling families to customize their strategies while benefiting from favorable legal frameworks, tax advantages, and enhanced privacy protections.
The information in this blog post is intended for general educational purposes only and should not be construed as legal advice.
In the world of estate planning, few things have had as much impact as email and the internet. These technologies changed the way we interact both personally and professionally, allowing us to exchange ideas and value across borders instantaneously. As internet commerce and communication expanded, the need for secure and confidential information transmission grew, leading to the rise of cryptography and blockchain-based data networks.
Blockchain networks operate without a central server, relying on interconnected peers to verify the validity of data transfers and store transaction records. However, there is no clear incentive for unrelated peers on a decentralized blockchain network to expend resources to validate transactions. Cryptographically secured blockchain tokens, also known as cryptoassets or cryptocurrency, provide incentives for participation on blockchain networks.
Bitcoin is widely believed to be the first successful decentralized blockchain network with a secure token-based economic incentive model. Since its launch in 2009, Bitcoin has spawned an entire economy with thousands of cryptoassets and separate blockchains, with a global economy measured in trillions of dollars.
Estate planners must be familiar with cryptoassets and blockchain technology, as their clients may have wealth comprised of these assets. There are many unanswered questions regarding the treatment of these assets in estate planning documents, as well as transfer and valuation issues.
For further discussion of these topics, read the full article that appeared in theEstate Planning Magazine. It is a primer on digital assets and strategies for their transfer. As these technologies continue to evolve, they will undoubtedly have a significant impact on the fields of law and finance, emphasizing the importance of expertise in this area.
Estate Planning in the Era of Digital Wealth by Matthew T. McClintock, Vanessa L. Kanaga and Jonathan G. Blattmachr originally appeared in Estate Planning, a Thomson Reuters publication.
The following information is intended for general educational purposes only and should not be construed as legal or investment advice.
