This material is being provided for informational purposes only and is not intended to provide, and should not be relied upon for, investment, accounting, legal, or tax advice. An investment’s portfolio may differ significantly from the securities in the index. The indexes presented are unmanaged portfolios of specified securities and do not reflect any initial or ongoing expenses nor can it be invested in directl


Whether they give their wealth to others during their lifetimes or after they’ve passed away, clients will want to minimize taxes and ensure that beneficiaries are well-informed. Few things are as important to your clients as their financial legacy and the well-being of their heirs. Help your clients understand the importance of estate planning with this education guide that outlines basic estate planning tools, the importance of taxes, estate planning and children, and more. Developing a sound estate plan can help give clients confidence and security about their legacy beyond their life. Further, developing relationships with your clients’ heirs helps to build your practice. This includes beneficiary education, tax support, and coordination of asset allocation and Federal estate tax planning in conjunction with external CPAs and accounting professionals.
Why a Financial Planner is a Key Player in the Estate Planning Proce


You can deal with these individual assets in a "pour-over" will, which directs any remaining assets not included in the trust to be transferred to it upon your death. Unlike a will, a revocable living trust allows you to transfer assets into a trust during your lifetime. However, you can use beneficiary designations to transfer these assets either directly to heirs after you die or to the trust should you wish for the trustee to help manage distributions. Retirement accounts, for example, should not be placed in a livingtrustlivingwillavoidprobate.com trust, as the transfer of ownership constitutes a distribution that could create unintended tax consequences.
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Many people think that once they sign their revocable living trust, everything automatically goes into it. Once a revocable living trust is established, the revocable trust must be properly funded in order to work. Many people wonder, "If I have a revocable living trust, why do I need a will? However, one doesn’t need a large or complex estate to establish a revocable living trust. Trusts are particularly common for larger or more complex estates, because they provide more control, flexibility and protection than a will alone. A trust is a legal arrangement that holds assets and distributes them to beneficiaries under terms you set in the trust documen


Without an estate plan, people who marry into a family (or even strangers) may end up with the entire family legacy.
Anticipating Future Needs
Wells Fargo Wealth & Investment Management (WIM) offers financial products and services through affiliates of Wells Fargo & Company. Please consult your tax and legal advisors to determine how this information may apply to your own situation. In other words, your legacy trust can be tailored according to your wishes while avoiding estate and generation-skipping transfer taxes, effectively. Here are some features to help livingtrustlivingwillavoidprobate.com determine whether a legacy trust may be right for yo


The investment strategies discussed are not appropriate for every investor and should be considered given a person’s investment objectives, financial situation and particular needs. Case studies do not necessarily represent the experiences of other clients, nor do they indicate future performance. However, certain circumstances – periods of economic volatility, life milestones like a divorce or the birth of a new grandchild, or a significant change in tax rules – may prompt you to move up your timing. A "spendthrift trust" could protect a beneficiary from their own worst instincts while preserving assets for future generations. While you may want a close friend or family member to serve as trustee of your trust, keep in mind the role can involve complex decisions and important responsibilitie

Setting up a revocable living trust is relatively simple, but it does require transferring ownership of assets to the trust, which can include real estate, bank accounts, investments, and other propert


When you create a family trust, you put assets in the trust solely for the use of your family members. One of the most effective strategies for preserving your assets is to establish a family trust. An estate livingtrustlivingwillavoidprobate.com emergency kit can provide greater clarity, reduce stress, and help ensure... Do your loved ones know what to do if something happens to you? Choosing the right trustee is critical for high-net-worth estates.
What are the pros and cons of asset protection trusts?
Every asset, from cash to a property deed, must be put in the name of the trustee. The terms provide instruction about how the trustee should manage the trust. In addition to naming the trustee and beneficiaries, the trust agreement document should include the terms of the trust. Your trust agreement document names the beneficiaries and assigns a trustee to manage the trust. The assets that fund an irrevocable trust become the property of the trust, not the granto