What is multigenerational estate planning?

Multigenerational estate planning focuses on building an estate during your lifetime that can be stewarded in a thoughtful manner that meets your goals and objectives. It gives you the opportunity to preserve and control the purpose and distribution of your wealth during life and at death.

Why planning is important

Often, tax implications are not considered by people when planning the transfer of their business and assets. It is important to consider the following: 

• Goals – What are the benefits to the next generation? You want to create a financial plan that is beneficial, not burdensome. 
• Strategy – Do you have a strategy established? Are the parties involved aware of the strategy, and do they understand it? Does your strategy properly reflect your values and principles?
• Funding – Do you have proper funding for the strategy in place to enable a smooth transition? 
• Tax implications – Does your strategy include IRAs, annuities or other tax-deferred investments? 

How can it benefit you?  

Multigenerational estate planning can be complex, and the sooner a plan is in motion, the more organized the process can be when the time comes. We want to help you avoid as many pitfalls along the way as possible. In addition, we can help identify possible hinderances to your plan that you may not be aware of.