During my journey to becoming a trust officer, I spent some of my time volunteering for local organizations. One of my favorites is still the Peninsula Park Rose Garden in North Portland. Over the years I have worked among a dedicated crew to keep the park’s beloved roses growing and showing for everyone to enjoy now and into the future. Whenever I return to the park, I also think of the care and feeding we do for our clients’ accounts. As the summer roses bloom and fade, it’s time to think about what we can do to ease our financial and philanthropic planning for the rest of the year.

In the rose garden, most of our time is spent carefully deadheading spent flowers to allow new buds to flourish and keep the whole rose bush healthy. In our client portfolios we strategize to buy and sell assets over time when market opportunities arise. This approach keeps accounts as healthy as possible, considering client’s potential withdrawals or tax harvesting of capital gains and losses. Sometimes it may be better to make intended distributions earlier in the year.

Perhaps now is a good time to make that gift of appreciated stock to your favorite charity and offset capital gains. Or could you make annual gifts to your children when school expenses are looming? How about making that qualified charitable distribution from your IRA so the organization can use it now, and you can check it off your list before the holiday rush?

As temperatures drop and roses fade, strategic pruning happens in stages from fall through early winter. When school resumes and year-end activities sneak up on us, an early freeze in the garden – or the stock market – could result in a gifting plan that is not as beneficial as intended.

Returning to the roses these days reminds me of our mission at Allen Trust Company. Season after season we strive to help our clients grow their portfolios, meet their financial needs, implement strategies to support family and community, and carry their legacies forward for future generations. By working together, the load is lighter, and the roses smell that much sweeter.

We are here to help with your planning, both garden and financial. Give us a call at 503-292-1041 or email our team at info@allentrust.com.

Pruning and Planning – Not Just for Roses