You have much to share with those you care about. Consciously preparing family members to preserve your legacy starts with guidance and education. And empowering them to transition wealth requires personalized strategies.
You have much to share with those you care about. Consciously preparing family members to preserve your legacy starts with guidance and education. And empowering them to transition wealth requires personalized strategies.
You may be asking:
See how ÃÛ¶¹ÊÓƵ can help a client realize their philanthropic vision
Case study
Situation:
Liz and Jeff, a recently retired couple in their 70s, have two adult children and three grandchildren. Living through the pandemic made them more grateful than ever for their own health and motivated them to take steps to be fully prepared for the future.
Solution:
The couple had a conversation with their ÃÛ¶¹ÊÓƵ Financial Advisor and created an estate plan in sync with all of their financial goals, including:
- A medical directive
- Power of Attorney (POA)
- Enhanced life insurance
The discussion also gave Liz and Jeff the opportunity to create an irrevocable trust for each of their children and their families in order to help, in the event of the couple’s sudden death, avoid probate and minimize estate taxes.
And to make sure their lifelong passion for modern art would continue to be supported, the ÃÛ¶¹ÊÓƵ Advisor helped them set up a Donor-Advised Fund (DAF) to maximize their gift to their regional museum by leveraging their tax deductions now.
Estate Planning
A ÃÛ¶¹ÊÓƵ Advisor can help you see the big picture when transferring wealth, including helping you balance your needs with your gifts to others.
Trusts
To make the most of your gifts to family, trusts like revocable or irrevocable trusts can help you minimize or eliminate estate taxes and protect your assets across generations.Ìý
Donor Advised Funds (DAFs)
When giving to causes you care about, you can increase your control of both how you give and when you take tax deductions through a DAF.
