How to Practice Proper Legacy and Estate Planning

Transferring wealth to your family can be a complex process, and it is important to be aware of the risks and challenges involved. A significant number of wealthy families lose their wealth by the third generation, and therefore, it is essential to know the risks that affect wealthy retirees and have strategies in place to [...]

2023-02-28T03:47:56+00:00February 27th, 2023|Estate Planning|

Know The Two Staples of Estate Planning – Trusts and Wills

Planning for after your death can be difficult. However, deciding how to distribute your assets is critical for your family and your legacy. If you neglect to plan for your succession, your assets may end up in legal battles with your loved ones, and you don’t want that. Therefore, it is critical to get started [...]

2022-10-16T19:44:34+00:00October 17th, 2022|Estate Planning|

Don’t Forget About Estate and Legacy Planning in Retirement

According to recent studies, the “great wealth transfer” will have baby boomers transferring as much as $72.6 trillion to their heirs by 2045.[1] Estate planning is defined as the preparation of tasks that serve to manage an individual’s asset base in the event of their incapacitation or death. Whereas legacy planning is defined as a [...]

2022-05-09T13:47:28+00:00May 9th, 2022|Estate Planning|

Tax Considerations for the Estate Planning Process

When estate planning, don’t forget to consider the tax considerations. Do not transfer assets with gains from an older generation to a younger generation without tax and step-up basis considerations.  These rules vary from state to state and can be very complex to decipher.  This is yet another reason why working with an advisor who [...]

2022-01-17T22:46:16+00:00January 17th, 2022|Estate Planning, Taxes & Tax Planning|
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