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Year-End Planning: Thoughtful Steps from K&B Thumbnail

Year-End Planning: Thoughtful Steps from K&B

Investing

Thoughtful Steps for a Strong Start to the New Year  

As the year comes to a close, it is a natural time to pause and take stock of where you are. Markets, tax laws, and life circumstances continue to shift, each influencing the way your financial plan takes shape. Thoughtful year-end planning helps turn these moving parts into clarity, creating space for better decisions and more confidence in the year ahead.  

At Kimelman & Baird, we view this process as an opportunity to realign priorities, confirm what matters most, and prepare for the next chapter with intention.  

“Thoughtful year-end planning allows clients to move from reacting to anticipating,” says Scott Kimelman, Partner and Co-Chief Investment Officer. “It is a chance to look at the full picture, including investments, taxes, cash flow, and goals, and make adjustments that support long-term success.”  

Tax and Retirement Planning  

Taxes are often the focus of year-end, but they are only one part of a broader financial conversation. Reviewing income, capital gains, and charitable contributions now can help ensure you are using every opportunity available. For clients subject to Required Minimum Distributions (RMDs) or considering Roth conversions, the final quarter is an important window to review withdrawal strategies with us in tandem with your CPA.  

“Tax-aware planning is not about chasing deductions,” notes Sapan Vyas, Partner and Co-Chief Investment Officer. “It is about positioning income, investments, and distributions in a way that supports your lifestyle and long-term plan. Even small adjustments can help reduce surprises in April.”  

Savings and Investment Review  

The end of the year is also a good time to revisit your savings and investments. Review your contributions to 401(k), IRA, and HSA accounts, and check that your portfolio continues to reflect your goals and risk tolerance.  

Market conditions in 2025 continue to reinforce the importance of a personal approach. At Kimelman & Baird, we work directly with each client to manage assets in a way that aligns with their individual goals and time horizon. Your plan is as unique as you are, and we believe investment decisions should reflect that.  

Charitable, Legacy, and Risk Planning  

For many families, giving and legacy planning are essential parts of financial well-being. The close of the year can be an appropriate time to consider charitable contributions or to use the annual gifting exclusion to support loved ones. It is also an opportunity to review wills, trusts, and beneficiary designations to confirm that your intentions are clear and current.  

“Family and financial conversations often come together at this time of year,” says Yasmeen Mock, Partner and Chief Operating Officer, Head of Client Relations and Portfolio Administration. “Discussing charitable goals or updating estate documents can bring a sense of alignment across generations. It is not just about finances. It is about connection and shared purpose.”    

This is also a natural moment to review insurance and risk management. Life, disability, and long-term care coverage should evolve with your circumstances. Taking a few minutes to assess liquidity and cash flow for the coming year can also help you prepare for opportunities or expenses ahead.  

Preparing for Life Events and the Year Ahead  

Life rarely stands still. Marriage, relocation, career changes, and other milestones can reshape your financial picture in meaningful ways. Reviewing your plan now can help ensure your strategy continues to reflect your current life stage.  

Looking to 2026, possible changes in tax policy and continued market uncertainty may bring both challenges and opportunities. Clients who plan early may be better prepared to adjust.  

“The start of a new year should feel intentional, not reactive,” adds Scott Kimelman. “When clients complete a year-end review, they can begin January with greater clarity and confidence in their decisions.”    

Your Year-End Action Checklist  

To make the process more manageable, consider the following before December 31.  

By November 30:

  • Schedule your year-end review with us.
  • Coordinate with your CPA or attorney to address tax and estate matters. 
  • Review charitable and gifting plans for 2025 tax-year deadlines.  

By December 31:

  • Complete contributions, conversions, and RMDs.
  • Finalize charitable donations and annual gifts.
  • Confirm that beneficiary and estate documents are up to date.  

Moving Forward with Confidence  

Year-end planning is not about checking boxes. It is about entering the new year with a plan that reflects your priorities and supports your goals. Whether you are refining investment strategies, evaluating taxes, or aligning family priorities, each thoughtful step can help strengthen your financial foundation.  

At Kimelman & Baird, our purpose is to help clients navigate the intersection of wealth and life with clarity and care. If you would like to review your portfolio before year-end or begin preparing for 2026, we invite you to reach out to us.  

This communication has been prepared for informational purposes only and is not intended to provide, and should not be relied on for tax, legal or accounting advice. All information or ideas provided should be discussed in detail with an advisor, accountant, or legal counsel prior to implementation. Investing involves risk including the possible loss of principal. Past performance is not a guarantee of future results or success.