Life events can be an opportune time to connect with the next generation
When children inherit wealth from their parents, they may seek guidance elsewhere if they do not have a relationship with their parents’ advisor.
When children inherit wealth from their parents, they may seek guidance elsewhere if they do not have a relationship with their parents’ advisor.
When wealth transfer fails from one generation to the next, a communications failure may be one of the leading causes.
As trillions of dollars are expected to move from boomers to the next generation, advisors may consider using social strategies to meet the entire family.
Only a small percentage of heirs stay with the financial advisor used by their parents, making it critical for advisors to connect with the next generation.
In a new wave of wealth transfer, $30 trillion is projected to move to the next generation over 30 years, leading some advisors to rethink their businesses.
When the tax landscape is unclear, flexibility can be important. For investors with irrevocable trusts, some states give trustees more flexibility with decanting.
Creating instructions, much like a roadmap, can be among the most helpful item you can leave to family members trying to manage your estate.
Most estates may fall within the exemption level from federal estate taxes but investors still need to plan for the orderly transfer of wealth.
Year-end can be a critical time for investors who want to take advantage of certain gift- and estate-planning strategies.
A proposal from the Internal Revenue Service (IRS) would change the way family-owned businesses are valued for family business transfers.