What Is a Step-Up in Basis on Inherited Assets?

When a beneficiary inherits an appreciated asset—such as stock, a home, or a business interest—the IRS typically allows the cost basis of that asset to be “stepped up” to its fair market value (FMV) as of the date of the original owner’s death.

This means that any unrealized capital gains that occurred during the original owner's lifetime are effectively erased. The beneficiary's new basis is the asset’s value on the date of death, which significantly reduces taxable gains if the asset is later sold.

Step-Up in Basis Example Using Stock

Let’s say a parent purchased 1,000 shares of Apple Inc. (AAPL) at $10 per share many years ago—totaling a $10,000 cost basis. At the time of their death, the shares are worth $180 per share, or $180,000 in total.

• Original basis: $10,000

• Value at death (new basis): $180,000

• Sale by heir: $185,000

• Taxable gain: $5,000

Instead of paying capital gains tax on $175,000, the heir only owes tax on the $5,000 increase that occurred after they inherited the shares. This is the power of a properly applied step-up in basis for inherited stock.

Which Assets Receive a Step-Up in Basis?

Most taxable assets are eligible for a step-up in basis at death, including:

• Individual stocks and bonds

• Exchange-traded funds (ETFs) and mutual funds

• Real estate (primary residences, rental property, land)

• Collectibles (art, antiques, etc.)

• Interests in privately held businesses

These are commonly referred to as capital assets, and the adjustment to their basis helps reduce or eliminate capital gains tax when sold by the heir.

Assets That Do Not Receive a Step-Up in Basis

Some assets do not qualify for a step-up in basis. It’s important to understand how they are taxed differently:

• Cash and bank accounts – Do not appreciate in value, so there’s no cost basis to adjust.

• IRAs and 401(k)s – These are pre-tax retirement accounts. Distributions are taxed as ordinary income, not capital gains, and thus are not eligible for a step-up.

• Annuities – Gains are taxed as ordinary income when withdrawn.

• U.S. Savings Bonds – Accrued interest is taxable when redeemed; no step-up applies.

For inherited retirement accounts, different rules govern distributions and tax treatment. Learn more about IRA beneficiary rules here.

Key Planning Considerations for Step-Up in Basis

Understanding how step-up in basis rules interact with your estate plan can lead to more tax-efficient outcomes for your beneficiaries.

• Gifting vs. Inheriting: Appreciated assets gifted during your lifetime carry over your original basis to the recipient. If those same assets are inherited instead, the beneficiary typically receives a step-up in basis—greatly reducing potential capital gains taxes.

• Diversification Opportunity: Many investors hold onto concentrated positions—such as legacy holdings in companies like AAPL—because of the tax consequences of selling. After inheritance, however, the step-up in basis gives heirs a chance to diversify without triggering major tax liability. This allows them to realign their portfolios with long-term goals and risk tolerance.

• Community Property Rules: In community property states (like California or Texas), a surviving spouse may receive a full step-up in basis on jointly owned assets—not just their deceased spouse’s half. This can unlock significant tax benefits in joint estate planning.

• Trust Design Impacts: Assets held in certain irrevocable trusts may not receive a step-up in basis unless they are included in the taxable estate. Coordinating with both a tax advisor and estate attorney is essential when designing trusts for generational wealth transfer.

Final Thoughts

The step-up in basis is one of the most important tax planning tools available when transferring taxable assets. When used strategically, it can eliminate years—or even decades—of embedded capital gains and help heirs make better financial decisions with inherited wealth.

At Vaultis Private Wealth, we approach every client with an understanding of their unique goals, values, and financial complexities. We help implement tax-smart estate planning strategies that align with your vision—so that what you’ve built can be preserved and passed on with intention.

Frequently Asked Questions

What is a step-up in basis?

A step-up in basis increases the cost basis of an inherited asset to its fair market value on the date of death. This often reduces or eliminates capital gains taxes if the asset is sold soon after inheritance.

Does the step-up in basis apply to retirement accounts like IRAs or 401(k)s?

No. Retirement accounts such as IRAs, Roth IRAs, and 401(k)s do not receive a step-up in basis because they are taxed differently — either as ordinary income or tax-free in the case of Roth accounts.

Do jointly owned assets receive a full step-up in basis?

It depends on the state and how the assets are titled. In community property states, both halves of a jointly owned asset may receive a full step-up. In separate property or common law states, typically only the decedent’s share receives a step-up.

What happens if I sell an inherited asset shortly after receiving it?

If the asset’s value hasn’t changed much since the date of death, you’ll likely owe little to no capital gains tax due to the step-up. The gain or loss is measured against the stepped-up basis, not the original purchase price.

What documentation should I keep to support the step-up in basis?

Keep records that show the asset’s fair market value as of the date of death — such as brokerage statements, qualified appraisals, or real estate comps. This information is critical in case of an IRS inquiry or future sale.

Disclosure: This communication is for informational purposes only and should not be construed as investment, legal, or tax advice. The information provided is based on current laws and regulations, which are subject to change. Vaultis Private Wealth (“Vaultis”) is a registered investment adviser. Advisory services are only offered to clients or prospective clients where Vaultis and its representatives are properly licensed or exempt from licensure. Past performance is no guarantee of future results. All investments involve risk, including the potential loss of principal. Consult with a qualified financial, legal, or tax professional before making any decisions based on this content.

Naming a Trust as an IRA Beneficiary: What You Need to Know

Trusts are widely used in estate planning to provide control, protection, and flexibility over how assets are managed and distributed. They help ensure assets are directed according to your wishes, protect beneficiaries who may not be equipped to manage an inheritance on their own, and offer privacy and efficiency in settling your estate.

While it is more common to name individuals as IRA beneficiaries, there are specific cases where naming a trust as an IRA beneficiary may be the right choice—such as when planning for minors, beneficiaries with special needs, or coordinating more complex family or tax strategies.

However, the rules governing trusts as IRA beneficiaries are intricate and have become even more so following the SECURE Act (2019) and SECURE 2.0 (2022). If you're considering naming a trust as your IRA beneficiary, understanding the IRS required minimum distribution (RMD) rules and their tax impact is essential to avoiding unintended consequences.

Why Consider Naming a Trust as an IRA Beneficiary?

Naming a trust as the beneficiary of your IRA can give you more control over how and when retirement assets are distributed after death. For example:

• Distribute assets gradually to a young or financially inexperienced heir

• Protect a beneficiary who relies on means-tested public benefits

• Provide long-term oversight for a loved one with special needs

• Centralize planning by updating one trust document instead of multiple beneficiary forms

However, due to post-SECURE Act complexity, careful structuring is critical to avoid accelerated taxes and lost deferral opportunities. 

Understanding Beneficiary Categories Under the SECURE Act

The SECURE Act categorizes beneficiaries into three main types, each with distinct tax treatment:

1. Eligible Designated Beneficiaries (EDBs)

These individuals can stretch IRA distributions over their life expectancy:

• Surviving spouse

• Minor child of the account owner (until age 21, then 10-year rule applies)

• Disabled or chronically ill individual

• Individuals not more than 10 years younger than the account owner

2. Non-Eligible Designated Beneficiaries (Non-EDBs)

These include most adult children and grandchildren. They must withdraw the entire IRA balance within 10 years, accelerating taxable income.

3. Non-Designated Beneficiaries

Includes entities like estates or certain trusts that do not qualify as see-through. These are subject to stricter RMD schedules:

• If the owner died before their Required Beginning Date (RBD): Account must be emptied within 5 years

• If the owner died on or after their RBD: Distributions follow the owner’s remaining life expectancy

RBD Note: The Required Beginning Date is April 1 of the year after turning age 73 (or 75 if turning 74 after December 31, 2032, under SECURE 2.0).

Examples

• A 15-year-old minor child (EDB) can stretch distributions to age 21, then must fully distribute by age 31

• A 45-year-old adult child (non-EDB) must withdraw all funds within 10 years

• A non-see-through trust inheriting a $500,000 IRA must follow the 5-year rule if the owner died before RBD—leading to large annual distributions taxed at 37% federal if retained

 Trusts as IRA Beneficiaries: A Complex Framework

Trusts are subject to unique IRS rules depending on whether they qualify as see-through trusts and the status of the underlying beneficiaries.

Non-See-Through Trusts (Non-Designated Beneficiaries)

These trusts fail to meet IRS "see-through" requirements—often due to:

• Having non-individual beneficiaries

• Failing to provide documentation to the IRA custodian

• Ambiguous or noncompliant language in the trust document

Distribution rules:

• Owner died before RBD → 5-year rule

• Owner died on or after RBD → Distributions follow owner’s life expectancy

Example: A non-see-through trust inherits a $500,000 IRA in 2025. If the owner died before RBD, the account must be distributed by 2030—about $100,000 per year. If retained, income taxed at trust rates (37% federal starting at $15,200 in 2025).

See-Through Trusts (Designated Beneficiaries)

A see-through trust meets IRS criteria:

• Has identifiable individual beneficiaries

• Is valid under state law

• Provides timely documentation to the IRA custodian

This allows the IRS to look through to the underlying beneficiaries and apply EDB or non-EDB rules.

Scenarios:

• All EDBs: Life expectancy stretch allowed

• Any Non-EDB: 10-year rule applies

• Owner died after RBD: Years 1–9 require annual RMDs based on oldest beneficiary’s life expectancy

Example: A see-through trust names a 65-year-old spouse (EDB) and a 30-year-old adult child (non-EDB). The presence of a non-EDB triggers the 10-year rule—$1 million must be distributed by 2034, likely $100,000 annually.

Separate Accounting: A Key Opportunity Under Final Regulations (2024)

New IRS guidance (Final RMD Regulations, July 2024) allows separate accounting for subtrusts if:

• The trust document mandates division immediately after death

• Subtrusts receive pre-specified IRA shares (not discretionary)

Each subtrust can then follow the distribution schedule of its own beneficiary:

• EDB Subtrusts: Stretch allowed

• Non-EDB Subtrusts: 10-year rule applies

Example: A $1 million IRA is split between a spouse (EDB) and adult child (non-EDB) in 2025.

• Spouse’s subtrust: Life expectancy stretch (approx. $21,000/year initially)

• Child’s subtrust: 10-year rule ($50,000/year if evenly split)

• Each pays tax based on their own rate—potentially reducing trust-level taxation.

Strategic Tax Planning for IRA Trust Beneficiaries

If you're considering naming a trust as your IRA beneficiary, keep these planning tips in mind:

• Use separate accounting: Mandate subtrusts in your document and assign specific IRA shares

• Ensure see-through compliance: Only use identifiable individual beneficiaries and submit timely documentation

• Match structure to intent:

  • Use conduit trusts for simplicity and direct distributions to EDBs

  • Use accumulation trusts for control, but account for high trust tax rates

• Consult a qualified attorney to ensure compliance with SECURE Act and IRS regulations

• Review regularly: Update your trust after life events or regulatory changes (e.g., SECURE 2.0 RMD age shifts)

Take Action: Plan Your Trust with Precision

The SECURE Act and the 2024 IRS regulations introduced new complexities—but also new planning opportunities. If you’ve named, or are considering naming, a trust as your IRA beneficiary, now is the time to review your plan.

At Vaultis Private Wealth, we work closely with clients to ensure their estate and retirement assets are coordinated thoughtfully and tax-efficiently. From trust structure to beneficiary designation, we help you take proactive steps to protect your legacy and minimize unintended tax consequences.

Frequently Asked Questions

Can I name a trust as the beneficiary of my IRA?

Yes. A trust can be named as an IRA beneficiary, but it must meet certain IRS criteria to preserve favorable tax treatment. These are known as the “see-through” trust rules.

What is a see-through trust?

A see-through trust is one where all beneficiaries are identifiable individuals, allowing the IRA to “look through” the trust and apply distribution rules based on the underlying beneficiaries’ life expectancies or the 10-year rule under the SECURE Act.

Why would someone name a trust instead of an individual?

Trusts are often used to control how and when IRA assets are distributed — especially useful for minors, spendthrift heirs, or complex family situations. They also provide an additional layer of asset protection and control after death.

How did the SECURE Act change IRA planning with trusts?

The SECURE Act eliminated the stretch IRA for most non-spouse beneficiaries, including trusts. Most trust beneficiaries must now fully distribute inherited IRA assets within 10 years, which can accelerate tax consequences.

Are there risks to naming a trust as the IRA beneficiary?

Yes. If the trust doesn’t meet IRS requirements or isn’t drafted carefully, it could trigger immediate taxation or force faster distributions. Coordination between your attorney and financial advisor is critical to avoid unintended outcomes.

Disclaimer: This article is for informational purposes only and does not constitute legal, tax, or investment advice. Individual circumstances vary, and tax laws are subject to change. Please consult with a qualified financial, tax, or legal advisor before making decisions regarding your IRA or beneficiary planning.

Distribution Rules When You Inherit an IRA

With IRAs representing a significant portion of many investors’ wealth, both beneficiary planning and a clear understanding of IRA inheritance distribution rules are essential. The SECURE Act (2019) and SECURE 2.0 (2022) introduced major changes that affect how inherited IRAs are distributed—especially for non-spouse beneficiaries. Understanding these changes is critical for minimizing taxes and preserving wealth for future generations.

Why IRA Beneficiary Designations Matter

Unlike other assets, your IRA passes directly to the beneficiaries you name—regardless of what your will or trust says. That means your decisions have a direct impact on how and when heirs receive these assets—and how much may be lost to taxes. The SECURE Act eliminated the “stretch IRA” for most non-spouse beneficiaries, replacing it with a 10-year rule. SECURE 2.0 further changed required minimum distribution (RMD) ages and added flexibility for spouses.

The End of the Stretch IRA: A Compressed Timeline

Before 2020, most beneficiaries could stretch required minimum distributions (RMDs) over their entire life expectancy, using the IRS Single Life Table. This long-term deferral allowed younger beneficiaries to minimize annual tax burdens and maximize the IRA’s compounding potential.

The SECURE Act replaced this option for most non-spouse beneficiaries with a 10-year withdrawal rule. Now, the account must be emptied within 10 years—often increasing the beneficiary’s taxable income during peak earning years.

Example: A 45-year-old inheriting a $1 million IRA in 2025 must now withdraw the full balance by 2035. Even if spread evenly, that’s ~$100,000/year—versus $24,400/year under the former stretch rules. This change significantly compresses tax deferral and may push the heir into a higher tax bracket.

Understanding Beneficiary Categories

The distribution rules depend on the type of beneficiary. The SECURE Act defines three main categories:

Eligible Designated Beneficiaries (EDBs)

These individuals can still stretch distributions over their life expectancy:

• Surviving spouses – May roll the IRA into their own, delay RMDs until age 73, or use the deceased’s schedule

• Minor children of the account owner – Stretch allowed until age 21, then 10-year rule applies

• Disabled or chronically ill individuals – Stretch permitted with proper documentation

• Individuals less than 10 years younger than the owner – Often siblings or close-in-age partners

Example: A 15-year-old inheriting an IRA can take distributions based on life expectancy until age 21, then must withdraw the remainder within the following 10 years.

Non-Eligible Designated Beneficiaries (Non-EDBs)

Most adult children, grandchildren, or unrelated individuals fall into this group. They must follow the 10-year rule, with specific requirements based on the IRA owner’s Required Beginning Date (RBD):

• RBD: April 1 of the year following the year the IRA owner reaches age 73 (for individuals born between 1951 and 1959) or age 75 (for those born in 1960 or later), as stipulated by SECURE 2.0.

If the owner died before RBD:

• No annual RMDs are required

• Beneficiary can withdraw any amount any year, as long as the IRA is fully distributed by the end of year 10

• Greater flexibility for tax planning

If the owner died on or after RBD:

• Annual RMDs are required for years 1–9, based on the beneficiary’s life expectancy

• Full distribution still required by the end of year 10

• IRS waived penalties for missed RMDs between 2021–2024 due to confusion

• Beginning in 2025, failing to take required minimum distributions (RMDs) may result in a 25% excise tax on the missed amount. However, if the oversight is corrected within two years, the penalty may be reduced to 10%, as outlined in SECURE 2.0.

Example: A 50-year-old inheriting an IRA from a parent who died after age 73 must take annual RMDs for 9 years and distribute the entire account by year 10. Strategic withdrawals—like taking more in lower-income years—can reduce overall tax impact.

Trusts as IRA Beneficiaries: Control Comes with Complexity

Trusts can provide valuable control and protection for beneficiaries, but they come with more complex tax treatment:

• Most trusts must follow the 10-year rule, unless structured as a see-through trust with qualified individual beneficiaries

• Non-see-through trusts are subject to even stricter rules

• For best results, work with an advisor to ensure the trust meets IRS requirements and aligns with your planning goals

Strategic Tax Planning for Inherited IRAs

If you’ve inherited an IRA—or are planning your legacy—consider these strategies:

• Time withdrawals strategically: Withdraw more in lower-income years to reduce total taxes

• Maximize spousal rollover options: Spouses can often delay or reduce taxable distributions

• Review designations regularly: Update beneficiaries after life events or tax law changes

• Coordinate with trusts: Ensure language is SECURE Act-compliant if using trusts as beneficiaries

Take Action: Plan for the Future, Avoid Surprises

The most important step you can take today is to review your IRA beneficiary designations. This simple task is often overlooked—but critical to ensuring your wealth is transferred in a tax-efficient, intentional way.

The shift from the stretch IRA to the 10-year rule has major tax implications. IRA owners must regularly review and update beneficiary designations. Beneficiaries must understand their distribution rules to avoid penalties and missed opportunities.

If you’re an IRA owner, take time to ensure your beneficiary choices reflect your goals and family structure. If you’re inheriting an IRA, know your category and obligations under current law. Staying informed and working with a qualified advisor can help protect your wealth—and your legacy.

Frequently Asked Questions

What are the current rules for inherited IRA distributions?

Most non-spouse beneficiaries must fully distribute the inherited IRA within 10 years of the original owner’s death, due to changes introduced by the SECURE Act. Required minimum distributions (RMDs) may still apply within those 10 years, depending on the beneficiary type.

Do spouses follow the same 10-year rule for inherited IRAs?

No. A surviving spouse can treat an inherited IRA as their own, which typically allows for more flexible distribution options and may delay RMDs until age 73.

What happens if the original IRA owner was already taking RMDs?

If the IRA owner passed away after beginning RMDs, the non-spouse beneficiary may be required to continue those distributions annually within the 10-year window, depending on their relationship to the decedent.

Are trusts subject to the same 10-year distribution rule?

Generally yes. Most trusts that inherit IRAs are now subject to the 10-year rule. However, certain types of trusts — like “eligible designated beneficiary” (EDB) trusts for disabled or chronically ill individuals — may still qualify for stretch treatment.

What are the penalties for missing required IRA distributions?

Missing a required distribution can trigger a penalty of 25% of the amount that should have been withdrawn. Working with a financial advisor can help ensure compliance and avoid costly mistakes.

Disclaimer: This article is for informational purposes only and does not constitute legal, tax, or investment advice. Individual circumstances vary, and tax laws are subject to change. Please consult with a qualified financial, tax, or legal advisor before making decisions regarding your IRA or beneficiary planning.

Estate Planning: A Cornerstone of Your Financial Future

At Vaultis Private Wealth, we understand that a comprehensive financial strategy extends far beyond investment management. Estate planning is a crucial component of this strategy, serving as one of the cornerstones of our financial planning process. By addressing estate planning early and thoroughly, we help ensure that your legacy is protected and your wishes are honored.

What is Estate Planning?

Estate planning is the process of arranging for the management and disposal of your estate during your lifetime and after death. It's not just for the wealthy; everyone can benefit from having an estate plan in place. The primary goals of estate planning include:

1. Ensuring your assets are distributed according to your wishes

2. Minimizing taxes, legal fees, and court costs

3. Naming guardians for minor children

4. Providing for family members with special needs

5. Establishing advance directives for healthcare decisions

Key Components of an Estate Plan

A comprehensive estate plan typically includes several important documents:

1. Will: This legal document specifies how you want your assets distributed after your death and names an executor to manage your estate.

2. Trust: Trusts can help manage and protect your assets during your lifetime and after death, potentially avoiding probate.

3. Power of Attorney: This document designates someone to make financial decisions on your behalf if you become incapacitated.

4. Healthcare Directive: Also known as a living will, this outlines your wishes for medical care if you're unable to communicate them yourself.

5. Beneficiary Designations: These ensure your retirement accounts, life insurance policies, and other assets go directly to your chosen beneficiaries.

Why Estate Planning Matters

Estate planning is crucial for several reasons:

1. Control: It allows you to decide how your assets are distributed, rather than leaving it to state laws.

2. Protection for Minor Children: You can name guardians for your children and set up trusts to manage their inheritance.

3. Minimizing Taxes: Proper planning can help reduce estate taxes, leaving more for your beneficiaries.

4. Avoiding Probate: Certain estate planning tools can help your heirs avoid the time-consuming and potentially costly probate process.

5. Peace of Mind: Knowing your affairs are in order can provide significant peace of mind for you and your loved ones.

The Importance of Professional Guidance

While online resources and DIY options exist, estate planning can be complex, especially when dealing with significant assets or unique family situations. Working with experienced professionals ensures your plan is comprehensive, legally sound, and tailored to your specific needs.

At Vaultis Private Wealth, we're committed to helping you navigate this crucial aspect of financial planning. As part of our comprehensive service, we:

1. Help you understand the importance of estate planning in your overall financial strategy

2. Guide you through the key considerations based on your unique situation

3. Connect you with trusted estate planning attorneys and other professionals

4. Work alongside these professionals to ensure your estate plan aligns with your overall financial goals

Take the First Step

Don't leave your legacy to chance. Understanding and implementing a comprehensive estate plan is key to ensuring your wishes are honored and your loved ones are cared for. At Vaultis Private Wealth, we're here to guide you through this important process. Reach out to us today to learn more about how we can help you navigate estate planning and build a lasting legacy.

Disclosures:

The information provided in this blog post is for informational purposes only and should not be construed as legal or financial advice. Always consult with a qualified attorney or financial advisor to discuss your specific circumstances and needs. Vaultis Private Wealth does not provide legal services. We connect clients with trusted estate planning attorneys and other professionals who can assist with the creation and implementation of estate plans. Past performance is not indicative of future results. Investing involves risk, including the potential loss of principal. Vaultis Private Wealth does not provide tax advice. Consult with a tax professional for advice on your specific tax situation. The dedication of a portion of advisory fees to cover the cost of connecting you with estate planning professionals is subject to the terms and conditions of your advisory agreement with Vaultis Private Wealth.

The Importance of Regular Estate Plan Reviews

In the dynamic world of wealth management, one crucial aspect often overlooked is the regular review of estate plans. At Vaultis Private Wealth, we emphasize that an estate plan is not a "set it and forget it" document. Here's why consistent reviews are essential:

Evolving Tax Laws

Tax legislation is constantly changing. What was optimal for your estate plan last year might not be the most advantageous strategy today. Regular reviews ensure your plan aligns with current tax laws, potentially saving your heirs significant sums

Life Changes

Major life events such as marriages, divorces, births, or deaths in the family can dramatically impact your estate planning needs. Reviewing your plan annually allows for timely adjustments to reflect your current family situation.

Asset Fluctuations

Your net worth isn't static. As your assets grow or your investment portfolio changes, your estate plan should be updated to reflect these changes. This is particularly crucial for those nearing or crossing the federal estate tax threshold.

Evolving Goals and Priorities

Your philanthropic interests or desires for wealth distribution may change over time. Regular reviews provide opportunities to realign your estate plan with your current wishes and values.

Changes in Estate Planning Strategies

New estate planning tools and strategies emerge regularly. Periodic reviews allow us to implement innovative approaches that could better serve your wealth transfer goals.

Business Ownership Considerations

For business owners, company valuations and succession plans can change rapidly. Regular estate plan reviews ensure your business interests are properly addressed and protected.

At Vaultis Private Wealth, estate plan reviews are a key component of our wealth management process. Our team of experts is committed to staying abreast of changes in tax laws, economic conditions, and estate planning strategies that may impact your plan.

When we conduct an estate plan review, we perform a thorough examination of your entire wealth transfer strategy. If we identify areas that may benefit from updates, we work collaboratively with you and your attorney to implement these changes. This team approach ensures that your estate plan remains aligned with your current financial situation, personal goals, and the latest legal and tax considerations.

By maintaining an up-to-date estate plan, you can have confidence that your hard-earned wealth is protected and will be distributed according to your wishes. It's a critical aspect of comprehensive wealth management that provides peace of mind for you and your heirs.

We encourage you to prioritize your estate plan as an integral part of your overall financial strategy. Contact Vaultis Private Wealth today to discuss how we can help ensure your estate plan continues to serve your evolving needs and secure your family's financial future.

Disclosures:

The information provided in this article is for general informational purposes only and does not constitute legal, tax, or investment advice. Readers should consult with their own legal, tax, and financial advisors before making any decisions based on the content of this article. Past performance is not indicative of future results. Investing involves risk, including the potential loss of principal. Vaultis Private Wealth does not guarantee that the strategies discussed will be suitable or profitable for every individual. Each individual's financial situation is unique, and you should seek personalized advice from qualified professionals.