Wealth Transfer Charitable
Proper estate planning can help ensure that your goals for transferring wealth, during your life or at death, are carried out according to your wishes. It will help eliminate unnecessary income and estate taxes and expenses, while determining ways to fund for taxes owed, transferring a business interest successfully, equalizing an inheritance among family members and establishing trusts to protect assets and preserve them for future generations. The beneficiaries of your assets remaining at death are often family members, but can include your favorite charities and the government taxing system. If you prefer to choose who gets what, when, and how, then wealth transfer planning can help.
The larger and more complex your situation becomes, the more likely you will want to collaborate with a team of professional advisors. The advisor team could include specialists in the following disciplines:
- Estate planning attorney
- CPA
- Life Insurance advisor
- Bank trust officer
- Investment advisor
- Charitable representative
- Business valuation expert
It may be wise to select one of these professional advisors to “quarterback” the team, someone who can take the time to fully understand your estate situation and help you identify goals. It is important to model up your numbers and then evaluate scenarios to help you visualize the financial impact of transferring your wealth at death. The analysis can then be shared with the other advisors to put everyone on the same page and allow for greater results from the coordinated approach.
Eslick Financial Group has worked closely with highly affluent families and their advisors since 1978. Our process of fact-finding, modeling, evaluating, and presenting through our Learning Environment has helped our clients minimize tax liabilities and maximize wealth transfer to future generations and their favorite charities.
If you would like to learn more about how your estate could be affected by your death, we can help.
Let us show you how.