Wealth Transfer

When to Avoid the “I Love You” Will – Keep Control with Trusts

Wealth Transfer Planning 4 of 6 It’s very common to see an estate plan that says “leave all my money to my spouse and then my kids equally.” We call that the “I love you” will because it’s pretty simple to understand and doesn’t require much other planning. But this plan may not work in… Continue reading When to Avoid the “I Love You” Will – Keep Control with Trusts

Wealth Transfer

Zero Tax Plan – Concept of 9 Circles

Wealth Transfer Planning 3 of 6 Proactive wealth transfer planning is about control and leverage.  We believe that a successful estate distribution plan is one in which your heirs (and/or charity) receive as much as possible, and Uncle Same, as little as possible. But this requires some work. Depending on your heirs’ tax brackets and… Continue reading Zero Tax Plan – Concept of 9 Circles

Wealth Transfer

“Estate Level Tax” vs. “Asset Level Tax”

Wealth Transfer Planning 2 of 6 Uncle Sam is probably an heir of your estate, whether you know it or not. The common misconception is that “my heirs won’t have to worry about taxes” because the size of my estate isn’t big enough. Many people know that the federal estate tax exemption is about $5.5… Continue reading “Estate Level Tax” vs. “Asset Level Tax”

Wealth Transfer

Wealth Transfer Planning: A Case Study for a Blended Family

Wealth Transfer Planning 6 of 6 Blended families are not uncommon these days. But this complicates estate and wealth transfer planning because there are typically multiple heirs from different bloodlines involved. And when there is real estate and/or business interests to consider, things get even more hairy. Maintaining control over this type of estate to… Continue reading Wealth Transfer Planning: A Case Study for a Blended Family

Wealth Transfer

Leaving an Inheritance to Kids

Recently I wrote about managing sudden wealth – namely, an inheritance. While not everyone will be the heir to a sizable estate or be lucky enough to hit the lottery, many ARE planning to leave THEIR estate behind for loved ones.  Many of my clients want to leave money to their kids. But a good… Continue reading Leaving an Inheritance to Kids