u/_ledge_

Have a client with a large concentrated employer stock position. A portion of it (overall it is millions of employer stock) is NUA. He really has no interest in ever selling this company for tax reasons but also emotional/bullish belief in the company. I am trying to get buy in from him in the value of diversifying and protecting his legacy. Exchange funds came up in conversation.

He also has other employer stock that is taxable. Since NUA does not get a step up in basis at death I explained if we were going to diversify eventually and you want to capture NUA we may want to consider diversifying from NUA portion of stock first since this will not be treated as favorably for a step up.

Another advisor was on the call and mentioned if we were to contribute the NUA to an exchange fund we get diversification, tax deferral AND in 7 years when the 50-60 diversified stocks distribute from the exchange fund those stocks are then eligible for a step up in estate.

This is such a niche situation and a quick ai search where I asked it to cite sources didn’t corroborate what the other advisor was saying about the step up.

Anyone ever experienced this and know the answer?

I’ve been an isles fan since I am old enough to remember so probably since like 2002ish. However after Covid I moved to Denver and have been following the Avs very closely and I’m a season ticket holder.

I got ESPN+ this year so watched maybe 10 islander games or so. I plan on watching more this next year.

I’m wondering what pieces do the isles need to make a cup run?

From what I know y’all have Schaefer, Sorokin who is elite, and also Barzal who whenever I see play I always think “damn this guy stands out. He’s fast and has moves” also he was always scoring the OT winning goal whenever I watched.

Do you guy think you can make a cup run this year with just a few moves? Or are y’all still building?

It seems like y’all need at least 1-2 superstars if I were to shoot from the hip. No idea how your depth is.

I would miss Brock Nelson so much if he were gone. I like him. I always have since the Islanders. I’m deff a fan boy but I like that he’s a family guy, keeps his head down, a cool calm presence. Nothing frustrated me more than seeing him produce very little in the playoffs.

I think he can still provide a ton of value to the team as well (I know unpopular opinion)

The fact he was the one they wheeled out to deal w the press while MacKinnon, Necas, etc hid from them.

Hopefully no one on the team is blaming him too much or giving him too much shit. These things happen.

He will always be my gold medalist.

Not too savvy on how the front office stuff works - is it basically a lock he will be gone?

I was born in NY 96 on the day of game 3 of the SCF - the year the Avs won their first cup. I was and still an Islanders fan my whole life - I was lucky my dad would bring me to 3+ games a year every year growing up.

About 10 years ago as I entered college I said “why would anyone follow sports played by strangers they have no control over and get emotionally involved?”

I moved to Denver after college for a job. Mark Rycroft owned the liquor store next to me by complete chance. The avalanche were good! It gave me a sense of community in a new city. I watched the games I could - I remember crunching pennys to stream the games bc I was broke. They won the cup and I went to playoff game the first year! I went to the parade and all but I wasn’t too emotionally involved but still would go to maybe 2-3 games a year.

It felt like destiny to be an Avs fan - they won in 96 when I was born and the year I moved here!

This year I hit a point in income where I could stream all games, go to a lot of games - even the playoffs. I watched them over dinner with my partner who grew a love for watching it with me. Maybe bc we could just spend time together and disconnect.

I even bought jerseys with players NAMES on them and I LOVE Brock Nelson bc he was an Islander and he connected me to NY. I love being apart of a community too. I follow players on social media, etc.

I almost feel like a “new” sports fan.

Now during this series I can’t help but think “this is why you stopped watching sports”. I connected my identity to the Avalanche. Would be so excited all day to watch them. Sometimes it got me through the day.

After this massive choke I just can’t help but feel “maybe I was right when I was 18 and said following sports was a waste of time”.

Maybe I have the wrong attitude I understand the odds are maybe every 32 years your team will win.

I just don’t like this feeling I willingly took on and wonder like wtf is the point. I understand this is way too long of a post for anyone to care but I actually feel really sad and this is a community to me so wanted to vent.

How are we 3-0 against this team? I truly believed this was one of the best teams ever. This all seems so statistically unlikely. The ducks did better than us. Our team is stacked. 75-0 when leading by 3? 45-0 leading into the third? This is a *literal* historical choke. The games aren’t even fun to watch - there’s no grit. We seem soft.

I love my city, my home, the players, and I want them all to win so badly. I feel *actual* sadness for a team full of strangers and it makes me feel dumb for even caring.

How do yall balance the reality maybe every 15 years they’ll win if im lucky and also being passionate/part of the community? 95% of the time they will end the season losing.

Really none of this stuff matters at all- why do i care?

I really don’t care if I get made fun of. This feels new to me and I don’t like the feeling I get but don’t wanna leave yall.