Engage the next generation with these planning strategies

Engage the next generation with these planning strategies

Financial planning strategies affect multiple generations more often than families realize. College funding, retirement, and tax efficiency can involve children and future heirs. Here are some ideas for conversations that support intergenerational planning and may encourage the whole family to participate. College funding Parents and grandparents may already be helping to support higher education for

Five ways to connect with the next generation

Five ways to connect with the next generation

Despite projections of a significant transfer of wealth from baby boomers to heirs in the coming decades, many investors may not be talking about estate planning with their financial advisors. In fact, a 2014 study found that only 35% of investors said their advisors provide family wealth management defined as a specific service.* Financial professionals

Help keep estate plans on track with these strategies

Help keep estate plans on track with these strategies

With the establishment of a historically high $5 million federal estate tax exemption (indexed for inflation), many taxpayers believe they do not have to plan for their estates. But federal estate taxes are only one aspect of estate planning. It’s critical to have the right documents in place and plan for potential state estate taxes

Three year-end gifting strategies

Three year-end gifting strategies

Some estate-planning strategies require action before the end of the year — and clients may want to consider taking advantage of them before they lose the opportunity. Chris Hennessey explains some end-of-the-year gifting and estate-planning advantages. Gift tax exclusion — use it or lose it An individual can gift up to $14,000 per year without

Digital estate planning is a growing issue

Digital estate planning is a growing issue

When thinking about estate planning, clients may not consider assets held behind firewalls and encrypted passwords on the Internet. But so-called “digital assets” — including online entrepreneurial ventures, music and photography collections, copyright work, digital currency, and bank accounts — may be lost forever without advance planning. Many of these online “properties” have monetary value

Six ways to connect with your clients’ next generation

Six ways to connect with your clients’ next generation

Financial advisors can lose between 80% and 90% of their business when a client dies, according to Financial Planning news. The challenge for advisors is to develop family relationships in order to continue to work with the next generation after a client passes away. There can be obstacles, such as geographic proximity, that make it

Five estate-planning strategies for 2014

Five estate-planning strategies for 2014

The permanent federal estate-tax exemption levels do not mean that clients with estates of lesser value can avoid planning. Many aspects of estate-planning remain critical to a comprehensive financial plan. Here are five estate-planning strategies to review with clients. 1. Review estate-planning documents Clients with estates of all sizes need to plan for the future.