Four steps to connect with the next generation of investors
Wealth transfer creates opportunity for advice
Tag: Estate Planning
Focus of estate planning shifts to local and income taxes
Estate planning priorities have shifted with the changes in the federal rules.
Beware the pitfalls of the portability rule
Re-marriage can present a challenge for portability rule.
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
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
Five tax strategies that require year-end attention
Nearly every area of financial planning offers strategies that can help taxpayers re-position their investments and reduce their tax liability. But many of these tax-smart ideas — involving capital gains, estate and gift planning, and the alternative minimum tax (AMT) — must be acted on by year’s end. Here are five strategies to consider. 1.
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
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
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
Even the famous make estate-planning mistakes
It doesn’t matter if you’re rich and famous — even celebrities trip up when it comes to estate planning. The stories of late celebrities James Gandolfini, Sonny Bono, and Elvis Presley offer a lesson. 284625