5 Steps for Successful Family Wealth Planning

Posted by Anna Hays

July 23, 2019 at 10:00 AM

Members of Generation X (those currently in their late 30s to early 50s) are often referred to as the forgotten financial generation, with a history of being overlooked as a demographic by the financial planning industry. And according to a recent Investopedia article, millennials (those currently in their early 20s to mid-30s) “face the most uncertain economic future of perhaps any generation in America since the Great Depression.” With $68 trillion transferring from baby boomers to these two groups over the next 25 years, it’s essential that your older clients start thinking about family wealth planning—and that you are ready to support both your existing clients and their children along the way.

Read More

Topics: Estate Planning

A Spotlight on State Estate Taxes: Strategies to Avoid Exposure

Posted by David Haughton, JD

June 5, 2019 at 1:30 PM

In 2017, following the passage of the Tax Cuts and Jobs Act (TCJA), a dramatic step was taken to double the federal estate tax exemption amount. Today, individual estates valued at less than $11.4 million are not subject to taxation at a federal level. This new threshold means only a small fraction of estates will be subject to the federal estate tax upon death for the foreseeable future.

Read More

Topics: Estate Planning

Does Your Client Still Need an ILIT?

Posted by Krista Teegarden

June 4, 2019 at 10:00 AM

Under the Tax Cuts and Jobs Act of 2017, the federal estate tax exemption increased from $5.49 million to $11.4 million per individual (in 2019). This boost means a married couple can exclude a staggering $22.8 million from estate tax!

But this dramatic change has also prompted many clients to question whether they still need an irrevocable life insurance trust (ILIT) if their estate is valued below this exemption. The answer is . . . it depends.

Read More

Topics: Estate Planning

Changing Your Client's Irrevocable Trust: What Are the Options?

Posted by Justin C. Duft, JD, CFP, CLU, ChFC, CLTC

April 3, 2019 at 1:30 PM

Irrevocable trusts can help accomplish many financial goals, such as creating a legacy for future generations or providing financial support for a disabled family member. Whatever the purpose, grantors enjoy tremendous flexibility when designing an irrevocable trust. But once that trust is in place, the ability to adjust its direction is often limited by rigid rules. As a result, over time, a trust may fall out of alignment with the intentions of the grantor and/or the interests of the beneficiaries.

Read More

Topics: Estate Planning

An Estate Planning Checklist for Advisors

Posted by Justin C. Duft, JD, CFP, CLU, ChFC, CLTC

April 2, 2019 at 10:00 AM

A plan to distribute wealth, just like a plan to accumulate it, must be tailored around your client's unique situation, goals, and needs. As the trusted advisor, you're well positioned to oversee all elements of your client's plan to help ensure the distribution of assets according to his or her wishes—and at the lowest possible cost. That involves a sometimes overwhelming amount of information and documents to keep track of, so what follows is an estate planning checklist to guide your conversations with clients and to help ensure that you've covered all the details in their plans.

Read More

Topics: Financial Planning, Estate Planning

New Call-to-action
The Independent Market Observer, Brad McMillan

Follow Us