ESTATE PLANNING
Estate planning is the process of determining—while you’re still alive—where your assets should go after you pass away. Without a properly structured estate plan, your wishes may not be fulfilled, and your loved ones could suffer both emotionally and financially.
While the concept is straightforward, the planning, vehicles, and implementation can be complex. With constantly changing estate tax laws and evolving tools to help protect and transfer assets, it’s crucial to work with experienced estate planning professionals who stay current in the field and provide day-to-day guidance.
1031 EXCHANGES
The IRS allows individuals to defer capital gains tax on the sale of real estate by reinvesting the proceeds into a “like-kind” property—an effective exit strategy for highly appreciated assets. However, executing a 1031 exchange requires precise timing and deep knowledge. Affluent families have used this strategy for decades to avoid capital gains and minimize the tax burden on inherited real estate. We offer turnkey 1031 exchange solutions that remove the typical complexity from this powerful tax strategy.
IRA LEGACY PLANNING
IRAs have become one of the most common types of inherited assets. If you don’t anticipate needing your IRA funds during retirement, you may want to consider a legacy planning strategy to reduce taxes and increase the value your beneficiaries receive.
A properly structured IRA can provide your heirs with a steady stream of income while allowing the remaining assets to grow tax-deferred. This may result in a significantly larger payout over your beneficiary’s lifetime. We can help evaluate your financial situation to determine whether IRA legacy planning is the best strategy for creating a lasting inheritance.
TRUSTS
Trusts come in many forms and can be complex to establish and manage. However, they offer a flexible and advantageous way to transfer your assets in the future. Some trusts also provide immediate benefits, such as tax deferral and potential deductions. The right trust structure can help you meet specific financial and family goals with confidence.
LIFE INSURANCE
Life insurance isn’t for those who have passed away—it’s for those left behind. When considering life insurance, think about covering your family’s ongoing living expenses, funeral costs, and estate-related fees. A general rule of thumb is to aim for coverage equal to five to seven times your gross annual income.
There are two main types of policies: Term and Permanent.
Term life insurance provides coverage for a set period and pays a death benefit only if you pass away during that term. Premiums remain fixed throughout the policy’s duration.
Permanent life insurance, by contrast, stays in effect for your entire life as long as premiums are paid. These policies may also accumulate cash value, offering a tax-advantaged income tool in retirement.
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