How a Change in Leadership Will Affect Wealthy Investors

Available for Interviews: Don Garman

Don Garman is the Founder and Chief Investment Officer of Mirador Capital Partners and Co-Founder of Tri-Valley Ventures. A seasoned investor in both public and private companies for over 30 years, Don leads Mirador’s Investment Committee and oversees each of the firm’s proprietary investment strategies.


What Don Garman can say in an interview:

In an effort to prepare for all outcomes of the November election, investors should be aware of the tax plan proposed by presidential candidate Biden. These changes, if enacted, will have a material effect on estate planning, gifting, and capital gains strategies.

Because the window to address these changes will be small, tax and estate planning professionals will be inundated during that time. It’s best to make all preparations in advance.

Here are the items on Mr. Biden’s agenda that will be most relevant to high net worth investors.

      • Taxing long-term capital gains and qualified dividends at ordinary income tax rates
      • Lowering the current $11.58M estate and gift tax exemptions to $5M
      • Increasing the current 40% maximum estate and gift tax rate
      • Eliminating the step-up in basis at date of death
      • Taxing the unrealized appreciation of assets at time of death
      • Limiting valuation discounts

What this means is that the remainder of 2020 may be an extremely rare opportunity to take advantage of estate and gift tax exemptions. Additionally, it is time to evaluate reducing long-term capital gain positions that may have an outsized allocation in your portfolio.

Reach out to your financial advisor, CPA, and estate planning attorney sooner than later to discuss your strategy.


Interview: Don Garman

Don Garman has earned the prestigious designations of Certified Financial Planner® and Certified Investment Management Analyst®. Prior to founding Mirador, Don served his clients at two of the nation’s largest advisory firms. He is very active in the Tri-Valley area and supports many community organizations, including The First Tee of the Tri-Valley, The George Archer Foundation, and the Livermore Valley Wine Growers Foundation. He also serves as President of the Tri-Valley Cal (UC-Berkeley) Alumni Club. Don lives in Pleasanton with his wife Mindy and has two children, Emma (Georgetown University) and Scott (high school sophomore). He is an avid drummer, golfer, and snowboarder.

Jo Allison
Managing Editor
Director of Public Relations
Success In Media, Inc.

Leave a Reply