ESTATE PLANNING

A Transfer on Death (TOD) agreement enables certain investment assets to bypass probate and be transferred directly to specified beneficiaries. During the investor's lifetime, however, he or she:

• retains complete control of all assets
• receives all interest and dividends (and therefore pays taxes on them)
• may revoke or change the TOD agreement.

This agreement is easy to set up, and we can do this for you as you open your account, or anytime thereafter. To learn more about this efficient alternative for bequeathing assets to beneficiaries, click here.  

You know how you want wishes carried out and your assets distributed upon death. Naming beneficiaries helps ensure those wishes will be carried out.  Without named beneficiaries, some accounts have a default beneficiary, often a spouse. Otherwise, the assets of those accounts will become a part of your estate.  You can rely on us to consider the big picture of your entire estate if you need help determining your beneficiaries.

Do you want to leave all of your assets to your beneficiaries only after you are gone, or should you consider gifting while you are still here? We can help develop a gifting strategy that best fits what is important to you.

We help you develop strategies to maximize after-tax dollars for your heirs. For example, highly appreciated securities can be inherited with a “stepped up” basis and avoid capital gains tax. When appropriate, we also help develop a plan that includes preserving Roths and other after-tax dollars in your estate. 

Trusts are typically set up to provide control over assets, or to avoid probate and reduce estate taxes. However, there are many more reasons to set up a trust.  

• Trusts can protect your loved ones in worst case scenarios 
• The structure of trusts can assist children with special needs
• Complex assets can be properly divided using trusts

We will discuss with you the benefits of when to set up a trust, i.e., as part of the will (a testamentary trust), which assets to place in the trust, the rules of the trust, and how to choose a trustee. 

Not all charitable donations are the same. During your lifetime we will develop a plan for the gifting of highly appreciated stocks that qualify for deduction and also reduce capital gains taxes. For some clients over age 70½, we may recommend gifting directly from an IRA as a means of additional tax benefits.