Estate & Asset Management

The goals of estate planning are to provide your financial security while you’re alive and to maximize your estate for your family and any charities following your death. Estate taxes will significantly impact the wealth you have accumulated unless you employ proper planning. A well designed estate plan can help create and conserve assets during your life. In addition, effective planning can minimize estate taxes and estate settlement costs and deliver an orderly distribution of assets that helps meet your objectives.

To fully leverage estate preservation opportunities and develop strategies to help achieve your distribution objectives, we consider:

Will and trust design strategies:
Working with your attorney, we can review your legal documents to uncover whether they’re up to date and what types of trusts are in place. Our analysis can determine whether your estate may be subject to costly delays in the probate process and the appropriate solutions for this situation.

Property ownership alternatives:
By titling your assets appropriately you can avoid unnecessary taxation or probate exposure. We work with you to coordinate the three methods of estate distributions - beneficiary designations, joint titling and "own name" assets - and ensure that your primary and contingent beneficiaries are coordinated with your exisitng will and trust documents.

Estate tax reduction techniques:
It’s critical to determine your current estate tax liability and implement steps that will minimize estate settlement costs. These steps may include how to mitigate the impact of future estate growth and how to hedge the uncertainty of future estate tax legislation. We will help you take full advantage of the tax credits and deductions allowed by the Internal Revenue Code to reduce your estate tax burden.

Life insurance analysis:
The arrangement of your current life insurance may be causing unnecessary taxation within your estate. You will need to determine your requirements for estate liquidity - both now and in the future - and may want to consider using discounts or leverage to pay estate settlement costs.

Qualified plan distributions:
To avoid the significant drain that income and estate taxes can have on your qualified plan at death, your private wealth advisor will suggest available strategies to minimize these costs.

Family gifting strategies:
You may avoid a significant tax penalty if you restructure your exisitng Will to utilize your unified credit during your life, rather than waiting until your death. Further you may want to consider strategies that would allow you to gift money to your family, but retain certain control of your assets.

Charitable planning:
If philanthropy is important to you, you should coordinate your lifetime giving with charitable planning at death. We can explore alternatives to leverage the tax advantages of charitable giving for you and your family.