Miser Wealth Partners, LLC
Serving clients in their unique situations
“We do not immediately dive into a prospective client’s investments, insurance holdings or finances,” Miser said. “We are first and foremost interested in the client, his or her family and each unique situation.
“By listening closely and knowing the right questions to ask, it is our job to move a client to a new and different level of thinking. It’s during discovery discussions that a client’s true financial goals and aspirations are revealed.”
Miser Wealth Partners, LLC, does not charge for these preliminary discovery sessions along with all of the software analysis provided by the firm. setting the company apart.
“We always make it clear, it is the client’s money,” he said. “The client went to work when feeling lousy, worked for bosses they disliked and sacrificed and saved these monies. Our job is to remove the opacity of existing tax regulations and utilize our proprietary software to help each client achieve better outcomes for his or her family.
“Every client is different,” Miser continued. “But, we make sure to spend as much time as it takes to ask all the right questions, to completely understand a client, his or her relationships and concerns and any potential pitfalls that might be encountered in the future.”
In practice, Miser noted a critical area of planning commonly overlooked relates to the mitigation of state income taxation associated with out- of-state beneficiaries residing in states like California or New York.
“Most make the mistake of — if they have three beneficiaries for example — naming all three without properly examining the state income tax liabilities that might befall those heirs when they are required to take mandatory distribution from inherited IRAs in the future,” he said. “This is compounded when considering that the period these heirs may be required to take these distributions may occur when their personal incomes are peaking, thereby compounding the taxation of their inherited savings and their own taxable earnings.
“This is only one of the reasons we closely assess our client’s entire balance sheet to determine how to properly mitigate the maximum tax risk within one’s wealth transfer plan,” Miser added. “We examine all means to mitigate federal income, net investment income taxation (3.8 percent) and specific state income, along with all applicable estate tax laws, when building a strategic wealth transfer plan for our clients.”
Uniquely, Miser Wealth Partners, LLC, offers a comprehensive Educational Family Service component, in which a client’s heirs become part of the conversation.
Miser has been operating Miser Wealth Partners since 2017 in Cedar Bluff and decided to move the business further west to better serve current clients. The new office fronts Kingston Pike and is located in Renaissance | Farragut.
A native of Evansville, Indiana, Miser has lived in the Knoxville area for more than two decades.
For more information, visit www.miserwealthpartners.com or call 865-281-1616.
