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Peter Babilla brings 40 years of experience in investment management and fiduciary* financial consulting to Vertex Planning Partners, LLC.
Pete graduated from Indiana University in Bloomington, Indiana with a Bachelor’s of Science in Finance.
He began his career in 1983 with a focus on institutional fixed-income portfolio management, primarily working with community banks. After a decade serving institutional clients, Pete shifted his focus to working with individuals, families and business owners, providing guidance and education in all areas of Wealth Management. Among his areas of focus are accumulation and retirement planning, investment management, risk management, and estate and wealth transfer.
Pete’s planning philosophy allows him to create a personalized program for clients, based on their own unique goals and circumstances. The extensive investment and planning platform offered by Vertex enables him to create a highly customized program, tailored to each individual client.
Pete and his wife Suzanne have two children, and have resided in Wheaton, Illinois for the past 30 years. He enjoys golf, reading, and traveling with his family. Pete gives back as a past Board Member of the Epilepsy Foundation of Greater Chicago, where his focus is on improving the lives of those living with epilepsy.
Pete works as fiduciary for his clients and holds the CERTIFIED FIANANCIAL PLANNER™ (CFP®) designation and the Chartered Retirement Plan Specialist (CRPS®) designation.
Justin D’Agostino joined Vertex Partners in 2019 and serves a select group of business owners and affluent families. He specializes in investments, financial planning, and succession planning. His interest and knowledge in providing comprehensive financial planning and wealth management services to clients was sparked when he worked at a boutique tax and wealth management firm in Michigan. He has nine years of experience in the financial services industry, and his mission is to provide every client with targeted, comprehensive financial advice and to help them implement customized strategies designed to move them closer to accomplishing their unique goals.
Justin attended Hillsdale College where he earned his BA in Accounting and Financial Management and was a member and captain of the football team. Justin is a CERTIFIED FINANCIAL PLANNER™ Professional, and holds the Tax Planning Certified Professional®, Chartered Financial Consultant® and Chartered Retirement Planning Counselor™ designations.
Justin and his wife, Alexandra, reside in Chicago, Illinois. He is an avid sports fan and enjoys golfing, playing soccer and spending summer weekends with his family.
Scott Sandee brings over 20 years of experience as Managing Partner. He is responsible for leading the firm’s efforts in assisting middle-market business owners and seven and eight-figure families to plan and realize financial goals based on their unique aspirations and situations.
With a privately held family business background, Scott has helped owners prepare for and execute a successful transition. In addition, he works with business owners and their advisors to develop financial strategies to maximize sales proceeds and minimize future taxes.
Before joining Vertex, Scott served in financial planning and investment strategy roles at Oxford Financial Group, Capital Group, and The Northern Trust Company, working with Chicago’s HNW/UHNW families clients.
Scott holds the Certified Financial Planner®, Certified Private Wealth Advisor®, Certified Investment Management Analyst®, and Certified Exit Planning Advisor designations. Scott earned his B.S. in Computer Science from Northern Illinois University, and his family resides in Wilmette, IL.
Julie Hupp, CERTIFIED FINANCIAL PLANNER™ professional, has worked in the accounting and corporate finance field since 1987. She began her career as a CPA with Deloitte & Touche, specializing in the financial needs of small businesses. Then spent the next 13 years in corporate financial planning and business development at Baxter and TAP Pharmaceuticals. Recognizing her passion for personal financial planning, Julie started her business in 2006 where she focuses on comprehensive financial planning strategies and implementation.
Julie graduated from University of Illinois with a BS in Accountancy. She received her Master’s in Management with a concentration in Finance from Northwestern University’s Kellogg School of Management in 1994.
Outside the office, Julie is the co-founder of the 12 Oaks Foundation, which has merged with Cal’s Angels, and is a former Board member. Julie enjoys cooking, reading, running, triathlons and doing almost anything outdoors. A great weekend is spending time with her husband and two adult kids boating at their lake house in Wisconsin.
Steven P. Franzen, CPA, PFS, CGMA is a public accountant and consultant with more than 23 years of experience helping individuals and businesses reduce their tax liability. He began his career under the guidance of Patrick M. De Sio, CPA, CGMA and in 1996 became Mr. De Sio’s partner in De Sio, Franzen & Associates, Ltd. Steve’s expertise include entity design, complex tax strategies and multigenerational wealth transfer. As Managing Partner, Steve conducts his practice under the philosophy that the client’s investment in their CPA should yield a return on that investment – most of the time that return is realized when working with clients on planning for their future. In an effort to increase the planning capabilities of the firm, Steve formed Vertex Accounting Partners, LLC to ensure their guiding philosophy will continue well into the future.
Steve is a certified public accountant and has earned the professional designations of Personal Financial Specialist and Chartered Global Management Accountant. He is a member of the American Institute of Certified Public Accountants and the Illinois CPA Society. Steve earned a B.S. degree in accounting from Millikin University. He and his wife Kristie live in Sugar Grove, IL with their three children.
Gregory P. Benner, CPWA®, CFP®, ChFC®, CLU®, AIF®, RMA® has over twenty-two years of experience as a financial advisor. Greg’s practice is based on developing holistic financial plans that help his clients integrate sophisticated retirement, tax, risk management and estate planning strategies into an actionable plan, then stay the course as their behavioral coach.
Prior to founding Vertex Planning Partners, LLC, Greg spent four years as a founding partner of a Registered Investment Advisory firm affiliated with LPL Financial. He also spent seven years with JPMorgan Chase as a Senior Financial Advisor and was a Financial Representative with Northwestern Mutual Life.
Greg holds the Certified Private Wealth Advisor® designation and is a CERTIFIED FINANCIAL PLANNER™ Certificant. He also holds the Chartered Financial Consultant®, Chartered Life Underwriter®, Accredited Investment Fiduciary™, and Retirement Management AdvisorSM designations. He earned a B.S. in Finance from Miami University.
He and his wife Lindsey reside in Naperville, IL with their daughter and twin sons.
Michael D. Bellis, CFP®, CLU® began his career as a financial planning professional in 1994. His practice is centered on holistic financial planning, astute risk management strategies and empirical, research-driven portfolio construction. He began his career in partnership with his father under the name Bellis & Associates. Together, their practice and reputation for excellence dates back more than 40 years and includes multiple generations of the same families. After his father’s retirement several years ago, Mike continued to build a client-centric, consultative practice before forming Vertex.
Mike holds the CERTIFIED FINANCIAL PLANNER™ certification and is also a Chartered Life Underwriter. He has been an active member of both the Society of Financial Services Professionals and the National Association of Insurance and Financial Advisors. He earned a B.S. in Business & Marketing from Illinois State University. Mike is a lifelong resident of Naperville, Illinois. He and his wife Tanja have three children.
Charitable Giving: Advanced Strategies for Year-End Planning
A quote often attributed to Winston Churchill is that “it is more agreeable to have the power to give than to receive.” The holiday season is a natural time to reflect on charitable giving and the role it can play as part of a comprehensive financial plan. Thoughtful charitable planning can not only support philanthropic goals, but increase tax efficiency as well. The question isn’t just whether to give, but how to give in ways that maximize both the impact on causes you care about and the benefits to your overall financial plan.
This year presents a unique opportunity for charitable planning. The recently passed One Big Beautiful Bill Act (OBBBA) includes provisions that impact these considerations. Additionally, donations for this tax year must be made by December 31, creating a window to review your giving strategy. Understanding how to structure charitable gifts can transform generosity into a core pillar of your planning strategy.
Household net worth has reached a new record level
Charitable giving also plays an important role in estate planning. Assets left to charity are not subject to estate tax, making charitable bequests an efficient way to reduce estate tax liability while supporting causes you care about. For those with estates large enough to be subject to estate tax, the combination of lifetime giving and charitable bequests can significantly reduce the tax burden on heirs.
Most importantly, charitable giving can help leave a durable legacy, reinforce family values across generations, and reduce lifetime taxes. For many families, philanthropy becomes a way to involve children and grandchildren in meaningful discussions about values and stewardship. The challenge for investors is that while the desire to give is straightforward, the optimal approach requires thoughtful planning.
Timing and structure matter more than ever The OBBBA has created important changes for charitable giving. Most significantly, it increases the number of people who are able to itemize their tax returns due to the increase in the state and local tax (SALT) deduction cap from $10,000 to $40,000. Since charitable contributions are only tax deductible if you itemize, this increases their importance in tax planning today.
Additionally, there is a time-sensitive window from 2025 through 2029 to optimize the timing and structure of gifts. This is because, starting in 2026, the OBBBA introduces a floor for charitable deductions for itemizers of 0.5% adjusted gross income (AGI). This means that only the portion of charitable gifts exceeding 0.5% of your AGI will be deductible. For someone with $200,000 in AGI, for example, only donations above $1,000 (0.5% of $200,000) would be deductible.
One strategy that some investors use to overcome this challenge is known as “bunching,” or incorporating multiple years of giving into a single tax year to exceed the deduction threshold. This approach has become increasingly popular since the 2017 Tax Cuts and Jobs Act nearly doubled the standard deduction, which reduced the percentage of households that itemized.
Another key consideration is deciding which assets to donate. For example, gifting highly appreciated securities offers three key tax benefits: it avoids capital gains tax from an outright sale, removes further appreciation from the gross estate, and provides a deduction on ordinary income. For ordinary income deductions, consideration should be given to whether the recipient is a public or private charity and the investor’s estimated AGI. This “triple benefit” can be especially attractive during years with significant capital gains, such as when equity compensation vests or following a business sale, and when there are no losses to offset the gain.
Integrating charitable giving into portfolio rebalancing can also enhance efficiency. Some investors prioritize gifts of appreciated assets held in taxable accounts, then replenish those holdings through purchases in tax-deferred accounts. This approach can maintain the desired asset allocation while maximizing tax benefits.
Example vehicles for charitable giving
Different charitable giving vehicles serve different purposes, and selecting the right one depends
on your specific circumstances and goals. The following are some common examples, although it
is not an exhaustive list:
Donor-advised funds (DAFs) have grown in popularity, with assets exceeding $250 billion.1 DAFs function like charitable investment accounts: you make a contribution, receive an immediate tax deduction, and then recommend grants to charities over time. The funds can be invested and grow tax-free while you decide on the timing and recipients of your gifts. DAFs are especially valuable in years when maximizing deductions is important.
Under the new tax rules, donors can structure DAF contributions to ensure they exceed the 0.5% AGI floor threshold described earlier. DAFs are also simpler than other options, making them accessible to a wider range of donors.
Qualified charitable distributions (QCDs) are another option for those aged 70½ or older with traditional IRAs. QCDs allow you to transfer up to $108,000 for tax year 2025 directly from your IRA to charities. This can satisfy required minimum distribution (RMD) rules while excluding the amount from taxable income. QCDs provide tax benefits regardless of whether you itemize, so they can be valuable in years when itemized deductions are less favorable.
Charitable remainder trusts (CRTs) provide yet another option to support charitable causes as part of estate planning. With a CRT, you transfer assets into a trust that pays beneficiaries income for a specified period, with the remainder going to charity. This can be especially useful for highly appreciated assets, since the trust can sell them without you incurring immediate capital gains taxes.
As with any other trust vehicle, care should be taken in the structure. For example, certain retained powers could trigger inclusion of the asset in the grantor’s gross estate. Additionally, naming beneficiaries other than the grantor or spouse could trigger a gift tax.
For those fortunate enough to have substantial assets and long-term philanthropic goals, additional considerations may include:
These examples represent some of the most common charitable giving vehicles, but there are additional options and variations that may be appropriate depending on your specific situation. Working with a trusted advisor can help determine which approach best aligns with your goals.
Charitable giving as part of comprehensive planning
The most effective charitable planning integrates giving into your broader financial strategy rather than treating it as separate from other financial decisions. This holistic approach considers how charitable giving intersects with investment management, tax planning, retirement income, and estate planning. Perhaps most importantly, involving children and grandchildren in charitable decision-making creates opportunities to discuss what matters most to your family, why certain causes deserve support, and how to evaluate nonprofit effectiveness. These conversations can be among the most meaningful aspects of wealth planning, helping ensure that your family’s values and sense of stewardship continue across generations.
The bottom line?
With year-end approaching and new tax rules creating both opportunities and considerations, it is important to optimize the timing, structure, and vehicles for your charitable gifts. This can help maximize both your philanthropic impact and your financial goals.
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