Wealthy families with large individual retirement accounts, termed "elephant IRAs," could face major tax and penalty risks, even with Roth IRAs, warn attorneys Leonard "Paul" Hood and Griffin Bridgers. The attorneys note that IRAs that make up half or more of an estate can create complex issues, including prohibited transactions and withdrawal rules. They advise considering alternatives like charitable distributions and trust planning to mitigate potential tax liabilities.

Funding a spousal IRA may be a wise move for clients who are no longer working and earning an income through traditional employment. "In such cases, a spousal IRA can be an effective and often overlooked tool to help build retirement savings for both partners, even if only one spouse is employed," according to a Colcom Group report.

A 57-year-old with $4.1 million saved for retirement asks whether it is advisable to stop contributing to a 401(k) before retiring abroad. Brett Bernstein of XML Financial Group and Aaron Cirksena of MDRN Capital advise against stopping contributions, citing benefits such as tax reduction, employer matches and preparation for unforeseen expenses. They note that retiring abroad brings unique financial challenges, including currency fluctuations and unexpected costs, so continuing contributions, even at a reduced rate, could be beneficial.

The integration of artificial intelligence within the advisory industry has raised concerns among staff members about their job security. Panelists at the Investment Adviser Association's Policy Leadership Forum discussed the importance of presenting AI as a tool that enhances job roles rather than replaces them. "We frame it so this will make your day better. It can improve your experience so you can do other things," says Allison Diliberton, managing director at Altair Advisors.

Financial professionals must recognize the cultural divide within Generation Z to connect effectively, writes Lloyd Lofton of Power Behind the Sales. Gen Z men prioritize family, financial independence and legacy, while Gen Z women focus on career growth and economic mobility. "Gen Z doesn't trust hype. They don't need a product -- they need a plan," Lofton writes. "What they crave... is certainty in uncertain times."

Financial advisers are advising high-net-worth clients on strategies to mitigate the "SALT torpedo," a sharp increase in marginal tax rates due to the phaseout of the state and local tax deduction under the "One Big Beautiful Bill Act." Advisers recommend postponing income events, timing Roth conversions during low-income years, using qualified charitable distributions from IRAs and leveraging deferred compensation plans.

The One Big Beautiful Bill Act is set to change charitable giving strategies, particularly for high-net-worth individuals. The law includes a permanent above-the-line deduction for non-itemizers starting in 2026, but cash donations to donor-advised funds do not qualify. Advisers such as Sara Montgomery of Plante Moran and Mike Bisaro of StraightLine are preparing for questions from clients about accelerating donations before the end of the year.

A J.P. Morgan Wealth Management white paper highlights the use of pet trusts in estate planning, noting that these vehicles may provide peace of mind that furry friends will be taken care of. "Consider potential future expenses and inflation when setting the trust amount," the report notes. "Do you want to put the full amount into the trust, or will you rely on asset growth to fund some of the expenses?"