Connecting Values and Wealth: Finding Balance in Family Finances
The holidays bring family together and often create the kind of quiet, meaningful conversations that the rest of the year can rush past. Between gatherings and gratitude, it can also be an ideal time to talk about what truly matters: your family’s financial future.
With the One Big Beautiful Bill Act (OBBBA) now officially in place, new opportunities and responsibilities may shape how families approach gifting, inheritance, and charitable giving. Whether your goal is to simplify, preserve, or give back, thoughtful conversations now can bring clarity and ease to the year ahead.
Begin with Values, Not Numbers
Financial conversations are most productive when they begin with shared priorities rather than spreadsheets. Start by reflecting on what your family values most.
Is it security, education, independence, or philanthropy? How do you want wealth to support future generations or the causes you care about? The OBBBA introduces new gifting and charitable deduction rules, which makes aligning values with action even more important. Beginning with “why” helps make the “what” feel natural and collaborative.
Clarify Year-End Gifting Opportunities
If you plan to make gifts before December 31, take time to review the updated limits and tax treatment under the OBBBA. Annual gift exclusions have increased, creating greater flexibility for family gifting. Certain education-related gifts and trust contributions may also qualify for expanded benefits.
Decide whether gifts this year will be in the form of cash, appreciated securities, or contributions to education accounts for children or grandchildren. These discussions do not need to be formal. A brief explanation of why you are making certain gifts and how they fit into your broader plan can bring understanding and appreciation across generations.
Revisit Estate and Inheritance Plans
The OBBBA also introduces changes to estate and beneficiary rules, making this a good moment to ensure your documents reflect your current wishes. Review wills, trusts, and powers of attorney for accuracy. Confirm that beneficiary designations on retirement accounts and life insurance policies are up to date.
If you have named charitable organizations, verify that their information and mission remain consistent with your intentions. Including adult children in these conversations, even at a high level, can prevent confusion later and foster a shared sense of purpose.
Explore Family Philanthropy
If giving is part of your legacy, consider turning it into a shared family effort. Discuss the causes each member values most and explore options such as donor-advised funds or family foundations to make giving more intentional.
The OBBBA raises certain deduction thresholds for charitable contributions, which can make this a timely opportunity to deepen your impact. Making generosity a family tradition turns tax planning into something more meaningful, a reflection of your values and the legacy you want to build together.
Plan to Follow Up in the New Year
The holidays are for connection, not paperwork. Use this season to begin the conversation, then plan to meet with your advisory team early in the new year.
Schedule a joint session with your advisor, CPA, or attorney in January to review any financial, tax, or estate decisions discussed. Align your plans with the OBBBA’s new provisions and ensure everything is documented accurately. By setting a follow-up date, you keep momentum without losing the warmth and intention that began the discussion.
Moving Forward Together
Money can be emotional, but when conversations are grounded in values, they bring families closer. The OBBBA’s recent changes make this year’s discussions especially timely, offering an opportunity to be both thoughtful and proactive.
Whether your focus is gifting, giving, or preparing the next generation, this season offers the perfect setting to start those conversations. At Ballast Advisors, we believe balance and clarity create a sense of calm through change. With the right guidance, you can move into the new year aligned, informed, and confident in your shared path forward.
IMPORTANT DISCLOSURES
The opinions expressed are those of Ballast Advisors, LLC as of the date of publication and are subject to change without notice. This material is for informational use only and should not be considered investment or financial advice. The material presented has been derived from sources considered to be reliable, but accuracy and completeness cannot be guaranteed.
Ballast Advisors, LLC is a registered investment advisor under the Investment Advisers Act of 1940, as amended. Registration does not imply a certain level of skill or training. More information about the firm, including its services, strategies, and fees can be found in our ADV Part 2 and/or Form CRS, both of which are available without charge upon request. BAL-25-62
