David Stone (Stifel) | Blogger

As Director/Investments of The CR Wealth Management Group of Stifel, David Stone works closely with ultra-high net worth and high net worth clients. David and his colleagues collaborate with an experienced tax and estate attorney, as many of the group’s clients have complex tax needs. To serve the needs of clients with complex tax situations, David draws on his knowledge of tax-loss swapping . This technique can serve as an option when rates have increased and caused the value of a bond to drop below its base cost. By selling the bond at a loss, the investor can fund the capital gains tax due upon the sale of an asset. David understands the many intricacies involved in a tax-loss swap, including the wash sale rule, which forbids the recognition of a loss if the investor purchases a substantially identical product within a 30-day period prior to or after the sale. He must also determine whether the relevant gains and losses will occur within or after 12 months. Gains or losses experi...

David Stone serves as Director/Investments for the CR Wealth Management Group of Stifel and provides advice to a number of ultra-high net worth families whose wealth management plans include complex trusts. A complex trust is, by definition, any trust that cannot be classified as simple. A simple trust must distribute its income in the year that the trust receives it; however, it may not distribute any funds that are not classifiable as income. These disallowed funds include any and all corpus, defined as the money that originally established the trust. A complex trust may retain a percentage of its income per year and can distribute to beneficiaries some amount of the corpus. In addition, the complex trust may specify separate amounts that the trust can then pay out to a particular charitable recipient. David must understand the distribution requirements for both simple and complex trusts, as the manner of income handling can cause a trust to change classifications within a tax ye...