Andy Gitipityapon is an esteemed wealth manager who celebrated his 25th year as a securities sector licensee in 2024, having first joined Great Western Bank’s securities business in 1999. Great Western Bank was acquired by Washington Mutual and later by Chase Bank.
In the following years, Gitipityapon would hold the position of senior vice president at all three firms. The veteran wealth manager then joined Citigroup Global Markets as a senior financial advisor in 2009.
Fast-forward another decade, and the California native had moved to Western International Securities in Los Angeles County’s Westlake Village, where he remains settled today as a wealth manager. Western International Securities subsequently became Atria Wealth Solutions and was purchased by LPL Financial in September 2024.
Gitipityapon’s expertise lies primarily in tax-free wealth solutions for high earners and high-net-worth individuals. The following is a closer look at the wealth transfer and estate planning landscape in 2024 and beyond, courtesy of the Golden State-based wealth manager and former Chase Bank, Washington Mutual, and Great Western Bank senior vice president.
Wealth Transfer and Estate Planning in 2024
Wealth transfer and estate planning are crucial considerations for every individual and family looking to secure their financial legacies while optimizing tax efficiency.
According to subject matter expert Andy Gitipityapon, the two processes aren’t just about asset protection but also about ensuring financial resilience and value alignment. With that, they help maintain a stable future—economic and otherwise—for generations to come.
Wealth transfers are currently on the rise as baby boomers enter retirement age. Gitipityapon says this creates opportunities and challenges, highlighting the burgeoning need for clever strategic planning. Carefully considered strategic planning, as a part of the broader wealth transfer process, minimizes tax burdens and ensures a smooth transition.
Financially savvy families and individuals are also placing increased focus on creating more detailed estate plans than ever. These more detailed plans ensure that their hard-worked-for assets are transferred in ways that align with their long-held values and goals for their loved ones’ futures.
Immediate Future of Estate Planning and Wealth Transfer
The current federal estate and gift tax exemption is at an all-time high of $12.92 million per person. However, Gitipityapon reveals that this is a temporary measure. If current laws remain unchanged, exemption limits will revert to around $6 million in 2026.
The wealth manager explains that high-net-worth individuals are actively leveraging this higher exemption through gifting and other transfer strategies. Chief among these gifting strategies is irrevocable trusts, designed to protect people’s assets and reduce their tax liabilities, especially ahead of the anticipated federal estate and gift tax exemption reduction.
Moving forward, the subject matter expert also predicts a greater focus on philanthropy and social responsibility in estate planning via charitable lead trusts, charitable remainder trusts, and donor-advised funds.
That’s as families and individuals are becoming increasingly focused on contributing to the social good through legacy planning, emphasizing the ever-increasing importance of responsible wealth stewardship.
Predictions for 2025-2030 and Beyond
In addition to philanthropy and social responsibility, Andy Gitipityapon believes digital assets like cryptocurrency will become increasingly pivotal in wealth transfer and estate planning.
That includes estate planning evolving to include all-important digital criteria, requiring innovative strategies to ensure proper inheritance protocols designed to prevent the loss of assets. Gitipityapon also indicates a rise in business succession planning for entrepreneurs and advanced healthcare or incapacity planning heading into the latter half of the 2020s.
Meanwhile, with the ever-growing complexity of estate laws, tax implications, and the widening array of planning instruments now on offer, he reveals that professional guidance is becoming more critical than at any previous point in history.
That means a greater emphasis on working with estate planning professionals and financial advisors. Gitipityapon reports that more families than ever are expected to seek out specialists, including estate attorneys, tax advisors, and financial planners, for multi-generational wealth planning heading into the next decade.
For more from wealth manager Andy Gitipityapon, visit AndyGitipityapon.com.
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