◈ Homepage — http://www.bakerave.com/WEALTH | INVESTMENTS | INSIGHTS | ABOUT | FAQS | CONTACT | SCHEDULE LOGIN When life gives you… a legacy to share a new business opportunity a worthy cause a career change Learn how BakerAvenue’s Wealth and Investment services can guide you through your transitions TALK TO OUR EXPERTS Tax Planning Estate Planning Concentrated Stock Real Estate Impact Investing Family Office VIEW OUR LATEST RESOURCES TO GUIDE YOU THROUGH TRANSITIONS MARKET UPDATES NEWS­LETTERS BLOGS & CHECKLISTS VIDEOS NEWS WHITE PAPERS KEY REMINDERS May 15 2026 Nonprofit Returns Filing Deadline May 25 2026 Memorial Day - Market & Banks Closed Jun 01 2026 Form 5498 (IRA Contributions for 2025) Issued WHAT MAKES BAKERAVENUE DIFFERENT Our Lifestyle, Growth, and Legacy wealth management philosophy ensures that you are on track as you navigate through life’s transitions. Whether you need advice on concentrated stock strategies, impact investing, alternative and real estate investments, or building your legacy, we’re here to guide you. Our in-house team of financial, investment, tax and estate planning experts proactively work with you towards your long-term goals. We’re committed to clarifying the complex and delivering an integrated, long-term solution that is customized for you.​ LEARN MORE > When you need to discuss your personal and professional life transitions, BakerAvenue is here for you. CONTACT US > San Francisco (t) 415.986.1110 Visit Our SF Office 1 Embarcadero Center Fl 25, Ste 2530 San Francisco, CA 94111 New York (t) 212.202.3188 Visit Our NYC Office 66 Hudson Blvd E, Fl 24, Ste 2417 New York, NY 10001 Dallas (t) 214.306.9849 Visit Our Dallas Office 550 Reserve St, Ste 210 Southlake, TX 76092 Houston (t) 346.521.4740 1980 Post Oak Blvd Ste 100-#3425 Houston, TX 77056 San Diego (t) 858.283.2880 12636 High Bluff Dr, Ste 400-11722 Del Mar, CA 92130 Atlanta (t) 770.229.8425 5 Concourse Pkwy Ste 3000 Atlanta, GA 30328 Naples (t) 239.922.1525 780 5th Ave S, Ste 200 Naples, FL 34102 About BakerAvenue Meet the Team Impact & Community Market Updates News & Media Careers Privacy Policy Disclosures Terms of Use Our Difference Sustainable Impact ESG Differentiated Services Hedging Process Trending Articles Key Reminders Resources, News, Videos, Articles Financial Planning Family Office Trust & Estate Retirement Tax Planning Insurance Planning Multigenerational Plans Transitions: Financial Plans Chinese Investment Services General FAQs Tax Terms Defined Philanthropy & Impact Estate Planning & Gifting FAQs Schedule a Consultation Investment Management Investment Philosophy Prudence Indicator (BAPI) Impact Investing Concentrated Stock Dynamic Core Blue Chip Global Tactical Global Income Fixed Income Alternative Investments Asset Management Real Estate Investment Terms Defined © 2026 BakerAvenue. All rights reserved. The information contained on the site, including references to specific companies, market or composite indices, benchmarks, or other measures of relative market performance over a specified period of time, has been prepared for you for informational purposes only. The results herein are based on information believed to be correct but are subject to revision and audit adjustment. All returns are purely historical and are no indication of future performance. The information may contain references to concepts that have legal, accounting, and tax implications, and is not intended as legal, accounting, or tax advice. Information presented is believed to be factual and up-to-date and is subject to change. Click here to view BakerAvenue's full disclosures. Click here to view BakerAvenue’s Form CRS. ◈ Interior Pages — 3 pages crawledEstate Planning - BakerAvenue Wealth Management Wealth | Investments | Insights | About | FAQs | Contact | Schedule Login When life brings you joy learn how you can build your legacy Blogs | Services | Videos | White Papers | Gifting | Estate & Gifting FAQs Estate Planning Ensuring Your Legacy Is Defined and Maintained Our team will collaborate with you and your legal counsel to ensure that you establish and execute an estate plan that is specifically tailored to meet your goals. Your estate plan works best when it is kept up to date with your evolving personal and financial circumstances. We will help ensure that any requisite changes to your plan are carefully considered and properly implemented. ​ Recent Blog Articles BakerAvenue's Blog Maximizing Tax Benefits with Qualified Small Business Stock (QSBS) BakerAvenue's Blog Is a Qualified Personal Residence Trust (QPRT) Right for You? BakerAvenue's Blog The Great Wealth Transfer: How Will It Affect You? Checklist What Issues Should I Consider When Reviewing My Estate Planning Documents? View All Blogs & Checklists... Guidance on Estate Planning Includes : Analyzing your assets to help you understand how your estate and financial plan currently function Helping you identify structures to protect your assets and beneficiaries Providing insight on estate and gift tax mitigation strategies Identifying federal or state specific transfer regulations that may impact you Reviewing your plan with you to ensure that it is up to date Partnering with you to design a plan that is optimized for you and your loved ones Estate planning can be an uncomfortable subject that many people prefer not to discuss because it involves confronting difficult scenarios. However, establishing an estate plan and keeping it updated is important in order to avoid unintended consequences for your family and other beneficiaries. Will Trust Health Care Directive Power of Attorney Comprehensive Estate Planning   View Estate & Gifting FAQs Recent White Papers White Paper Benefits of a Corporate Trustee: Professional Management for a Lasting Legacy White Paper Fiduciary Roles in Your Estate Plan: Delegating Authority With Confidence and Clarity White Paper The Great Wealth Transfer Is Coming White Paper Ensuring Your Legacy Lasts for Lifetimes View All White Papers... REVOCABLE ESTATE PLANNING DOCUMENTS REVOCABLE TRUST Primary document in a Trust-based estate plan Contains the dispositive provisions of your plan (i.e., who gets what) WILL Primary document in a Will-based plan In a Trust-based plan, the Will functions in coordination with your trust to manage assets that are not in your trust at the time of your death POWER OF ATTORNEY Allows you to appoint an individual to act on your behalf for financial matters if you become incapacitated HEALTH CARE DIRECTIVE Allows you to appoint an individual to act on your behalf for medical matters if you become incapacitated Potential Gifting Strategies Hover on a circle to view the benefits > Overview of Strategies Donor Advised Fund Non-Grantor Trust Spousal Lifetime Access Trust (SLAT) Grantor-Retained Annuity Trust (GRAT) Charitable Remainder Trust When you need to discuss your personal and professional life transitions, BakerAvenue is here for you. Contact Us > The legal and/or tax information contained herein is general in nature, is provided for informational purposes only, and should not be construed as legal or tax advice. It does not involve the rendering of personalized investment advice and should not be construed as an offer to buy or sell, or a solicitation of any offer to buy or sell securities. All information is subject to change. This material contains references to concepts that have legal, accounting, and tax implications, and is not intended as legal, accounting or tax advice as Baker Avenue Asset Management LP is not engaged in the practice of law, tax or accounting. Accordingly, any information in this document cannot be used by any taxpayer for purposes of avoiding penalties under the Internal Revenue Code. Information presented is believed to be factual and up-to-date, and BakerAvenue cannot guarantee that such information is accurate, complete, or timely. Laws of a particular state or laws which may be applicable to a particular situation may have an impact on the applicability, accuracy, or completeness of such information. Federal and state laws and regulations are complex and are subject to change. Changes in such laws and regulations may have a material impact on pre-and/or after-tax investment results. BakerAvenue makes no warranties with regard to such information or results obtained by its use and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Consult your own attorney and/or accountant for advice regarding your particular situation. Top ↑ San Francisco (t)  415.986.1110 Visit Our SF Office 1 Embarcadero Center Fl 25, Ste 2530 San Francisco, CA 94111 New York (t)  212.202.3188 Visit Our NYC Office 66 Hudson Blvd E, Fl 24, Ste 2417 New York, NY 10001 Dallas (t)  214.306.9849 Visit Our Dallas Office 550 Reserve St, Ste 210 Southlake, TX 76092 Houston (t)  346.521.4740 1980 Post Oak Blvd Ste 100-#3425 Houston, TX 77056 San Diego (t)  858.283.2880 12636 High Bluff Dr, Ste 400-11722 Del Mar, CA 92130 Atlanta (t)  770.229.8425 5 Concourse Pkwy Ste 3000 Atlanta, GA 30328 Naples (t)  239.922.1525 780 5th Ave S, Ste 200 Naples, FL 34102 © 2026 BakerAvenue. All rights reserved. The information contained on the site, including references to specific companies, market or composite indices, benchmarks, or other measures of relative market performance over a specified period of time, has been prepared for you for informational purposes only. The results herein are based on information believed to be correct but are subject to revision and audit adjustment. All returns are purely historical and are no indication of future performance. The information may contain references to concepts that have legal, accounting, and tax implications, and is not intended as legal, accounting, or tax advice. Information presented is believed to be factual and up-to-date and is subject to change. Click here to view BakerAvenue's full disclosures. Click here to view BakerAvenue’s Form CRS. Awards - BakerAvenue Wealth Management Wealth | Investments | Insights | About | FAQs | Contact | Schedule Login Acknowledgements Our Values Are At the Heart of Everything We Do With tremendous gratitude and honor, BakerAvenue Wealth Management is proud to be recognized by leading companies and organizations for our commitment to excellence and sustainability. FOLLOW US   Forbes Top RIA Firms BakerAvenue is honored to be named in the Forbes ranking of America’s Top RIA Firms, by SHOOK Research, an independent and objective party. The ranking is based on an algorithm of qualitative criteria, due diligence interviews via video / telephone / in-person and quantitative data. The algorithm weighs factors such as revenue trends, AUM, compliance records, expertise, best practices and client engagement. Forbes Top RIA Firms BakerAvenue is honored to be named in the Forbes ranking of America’s Top RIA Firms, by SHOOK Research, an independent and objective party. The ranking is based on an algorithm of qualitative criteria, due diligence interviews via video / telephone / in-person and quantitative data. The algorithm weighs factors such as revenue trends, AUM, compliance records, expertise, best practices and client engagement. B-Certified BakerAvenue Wealth Management (RIA) envisions a global economy that uses business as a force for good. As a certified B Corporation member, we join a global association of for-profit businesses committed to using the power of business to build a more inclusive and sustainable economy. Certification indicates that we meet the highest verified standards of social and environmental performance, transparency and accountability. 2020 Financial Times 300 Top Registered Investment Advisors BakerAvenue is pleased to announce that we have been named to the Financial Times’ 2020 “FT 300: Top Registered Investment Advisers” list. Produced independently by Ignites Research on behalf of the Financial Times, the list recognizes leading independent RIA firms across the U.S. based on the growth rate, longevity, expertise and credentials of advisors, online accessibility, and compliance standards. 2025 Diversio Certified Committed to improving and elevating diversity & inclusion at BakerAvenue, we are pleased to announce that we have achieved a global standard for inclusion by becoming Diversio Certified. The standards include: measuring and setting targets to increase diversity at all levels, regularly collecting data on employee experience to identify bias and barriers faced by minority groups, and implementing programs and policies designed to unlock specific challenges while tracking results. 2021 Diversio Certified Committed to improving and elevating diversity & inclusion at BakerAvenue, we are pleased to announce that we have achieved a global standard for inclusion by becoming Diversio Certified. The standards include: measuring and setting targets to increase diversity at all levels, regularly collecting data on employee experience to identify bias and barriers faced by minority groups, and implementing programs and policies designed to unlock specific challenges while tracking results. 2025 Great Place to Work® BakerAvenue believes that our workplace culture should reflect our values. As certified members of Great Place to Work we are supporting the definitive standard of what it means to be a great workplace. This certification shows our commitment to creating a healthy culture, one that prioritizes diversity and inclusion in our workplace practices. 2024 Great Place to Work® BakerAvenue believes that our workplace culture should reflect our values. As certified members of Great Place to Work we are supporting the definitive standard of what it means to be a great workplace. This certification shows our commitment to creating a healthy culture, one that prioritizes diversity and inclusion in our workplace practices. 2023 Great Place to Work® BakerAvenue believes that our workplace culture should reflect our values. As certified members of Great Place to Work we are supporting the definitive standard of what it means to be a great workplace. This certification shows our commitment to creating a healthy culture, one that prioritizes diversity and inclusion in our workplace practices. 2022 Great Place to Work® BakerAvenue believes that our workplace culture should reflect our values. As certified members of Great Place to Work we are supporting the definitive standard of what it means to be a great workplace. This certification shows our commitment to creating a healthy culture, one that prioritizes diversity and inclusion in our workplace practices. 2021 Great Place to Work® BakerAvenue believes that our workplace culture should reflect our values. As certified members of Great Place to Work we are supporting the definitive standard of what it means to be a great workplace. This certification shows our commitment to creating a healthy culture, one that prioritizes diversity and inclusion in our workplace practices. 2020 Great Place to Work® BakerAvenue believes that our workplace culture should reflect our values. As certified members of Great Place to Work we are supporting the definitive standard of what it means to be a great workplace. This certification shows our commitment to creating a healthy culture, one that prioritizes diversity and inclusion in our workplace practices. 2021 SustainFi Top 50 ESG Financial Advisors We are honored to announce that we have been named to SustainFi’s “2021 Top 50 ESG Financial Advisors” list. We join SustainFi’s mission to make environmental, social, and governance (ESG) and sustainable investing easy to understand while helping our clients who want to make an impact with their money contribute to a more sustainable future. Please note that no fees or endorsements were made in exchange for our awards and acknowledgements. When you need to discuss your personal and professional life transitions, BakerAvenue is here for you. ">Contact Us >   San Francisco (t)  415.986.1110 Visit Our SF Office 1 Embarcadero Center Fl 25, Ste 2530 San Francisco, CA 94111 New York (t)  212.202.3188 Visit Our NYC Office 66 Hudson Blvd E, Fl 24, Ste 2417 New York, NY 10001 Dallas (t)  214.306.9849 Visit Our Dallas Office 550 Reserve St, Ste 210 Southlake, TX 76092 Houston (t)  346.521.4740 1980 Post Oak Blvd Ste 100-#3425 Houston, TX 77056 San Diego (t)  858.283.2880 12636 High Bluff Dr, Ste 400-11722 Del Mar, CA 92130 Atlanta (t)  770.229.8425 5 Concourse Pkwy Ste 3000 Atlanta, GA 30328 Naples (t)  239.922.1525 780 5th Ave S, Ste 200 Naples, FL 34102 © 2026 BakerAvenue. All rights reserved. The information contained on the site, including references to specific companies, market or composite indices, benchmarks, or other measures of relative market performance over a specified period of time, has been prepared for you for informational purposes only. The results herein are based on information believed to be correct but are subject to revision and audit adjustment. All returns are purely historical and are no indication of future performance. The information may contain references to concepts that have legal, accounting, and tax implications, and is not intended as legal, accounting, or tax advice. Information presented is believed to be factual and up-to-date and is subject to change. Click here to view BakerAvenue's full disclosures. Click here to view BakerAvenue’s Form CRS. BakerAvenue Investment Terms Wealth | Investments | Insights | About | FAQs | Contact | schedule Login   Investor's Directory of Terms   Accredited Investor A person who has an individual net worth, or joint net worth with the person’s spouse, exceeding $1 million at the time of purchase (excluding the value of the primary residence ); or a person with income exceeding $200,000 in each of the two most recent years or joint income with a spouse exceeding $300,000 for those years, and a reasonable expectation of the same income level in the current year. Source: SEC Ask This is the lowest price an owner is willing to accept for an asset. Asset Something that has the potential to earn money for you. It is something you own that can reasonably be expected to produce something  for  you. Assets include stocks, bonds, commodities, real estate, and other investments. Asset Allocation One of the ways to divide up the holdings in your portfolio is to do so by asset class. The idea is that different assets perform opposite to each other, and you can limit some of your risks by allocating, or diversifying, your portfolio according to the type of asset you have. Balance Sheet A statement showing a company's profit margin , what a company owns, the liabilities the company has, as well as stating the outstanding shareholder equity. Bear Market This is a market that is falling. A bear market has a downward trend, and someone who believes the market is headed for a drop is often referred to as a “bear.” Bear markets can last for a few weeks or years. Bid This is the highest price a buyer is willing to pay when buying an investment. Today, electronic trading makes it possible to ask and bid to be matched up automatically and almost instantly. Blue Chip Blue chips are companies that have a long history of good earnings, good balance sheets, and even regularly increasing dividends. These are solid companies that are likely to provide reasonable returns over time . Bond This is an investment that represents what an entity owes you. Essentially, you lend money to a government or a company, and you are promised that the principal will be returned plus interest. Book Value If you take all the liabilities a company has, and subtract them from the assets and common stock equity of the company, what you would have left over is the book value. Most of the time, the book value is used as part of an evaluative measure rather than being truly related to a company's market value. Broker This is the entity that buys and sells investments on your behalf. Usually, you pay a fee for this service. In the case of an online discount broker , you often pay a flat commission per trade. Other brokers, especially if they also manage your assets as a whole, just charge a percentage of your assets each year. Brokerage Account A brokerage account is created by a licensed brokerage firm that allows an investor to add funds and then the investor can place investment orders. The investor owns the assets contained in the brokerage account but will usually have to claim any taxable income from capital gains. Bull Market This is a market that is trending higher, likely to gain. If you think that the market is going to go up, you are considered a “bull.” Additionally, the term, like bear, can be applied to how you feel about an individual investment. If you are “bullish” on a specific company, it means you think the stock price will rise. Capital Gain or Loss This is the difference between what you bought an investment for and what you sell if for. If you buy 100 shares of a stock at $10 a share (spending $1,000) and sell your shares later for $25 a share ($2,500), you have a capital gain of $1,500. A loss occurs when you sell for less than you paid. So, if you sell this stock for $5 instead ($500), you have a capital loss of $500. Derivative A  derivative  is an asset that derives, or gains, its value from another source. Diversity A portfolio characteristic that ensures you have more than one type of asset. It also means choosing to buy investments in different sectors, industries, or geographic locations. Dividend In some cases, a company will offer to divide up some of its income among shareholders. Dividends can be paid once, as a special use of them, or they can be paid more regularly, such as monthly, quarterly, semi-annually, or annually. Dividend Yield The dividend yield is the current yield of a common stock at its present dividend rate. It is the ratio between the dollar value of the dividend a company pays and its share price. If a stock is trading at $100 per share and pays out $5 in annual dividends, the dividend yield would be 5%. Dollar Cost Averaging An investment strategy in which an investor divides up the total amount to be invested across periodic purchases of a target asset (often a stock) in an effort to reduce the impact of price changes on the overall purchase. The purchases occur regardless of the asset's price and at regular intervals. This aims to avoid making the mistake of making one lump-sum investment that is poorly timed with regard to asset pricing. Dow Jones Industrial Average A stock market index that tracks 30 large, publicly owned, blue-chip companies trading on the New York Stock Exchange and the NASDAQ. It was designed to serve as a proxy for the health of the broader U.S. economy. Exchange This is a place where investments, including stocks, bonds, commodities, and other assets, are bought and sold. It's a place where brokers (buyers and sellers) and others can connect. While many exchanges of “trading floors,” most orders these days are executed electronically. ETF (Exchange-Traded Funds) A type of investment fund that trades like a stock. Investors buy and sell ETFs on the same exchanges as shares of stock. ETFs allow investors to track any number of things, such as indexes, commodities, sectors, or even stocks. Stock exchange-traded funds allow investors to gain exposure to a basket of equities in a specific sector or index without purchasing individual stocks. Form 10-K Form 10-K  is an annual disclosure document certain firms are required to file with the Securities and Exchange Commission. It contains in-depth information about a business, including its finances, business model, and much more.   Hedge Fund This is an alternative investment that uses pooled funds. A money manager or registered investment advisor sets up this type of structure as an LLC or a limited partnership. The manager raises money from outside investors and then invests and manages that money. Hedge funds are aimed at high-income investors because individuals must earn at least $200,000 annually to be considered an accredited investor and eligible to invest with a hedge fund. High-Water Mark The existence of the high-water mark ensures that a fund only takes performance-related fees on new profits. For example, assume a $1,000,000 investment is made and that the fund declines by 20% in year 1, leaving $800,000 in the fund. In year 2, the fund returns 25%, bringing the investment value back to $1,000,000. If the fund employs a high-water mark, it will not take incentive fees on the return in year 2 since the investment has never really grown (i.e., the fund did not make any new profits). The fund will only take incentive feed if the investment grows above the level of $1,000,000. Hurdle Rate The rate at which a hedge is allowed to collect performance fees. If a hedge fund sets a 5% hurdle rate, for example, it will only collect incentive fees during periods when returns are higher than this amount. Index A tool used to statistically measure the progress of a group of stocks that share characteristics. This can include a group of stocks, a group of bonds, or a group of other assets. Index Fund An index fund is a type of mutual fund that allows an individual to buy investments that mimic the trends of an index.