There are few things more important to successfully transferring wealth than solid financial planning. The failure to plan a tax-efficient wealth transfer can greatly diminish the amount of wealth that ultimately reaches the next generation. With so much focus on building an effective retirement plan, creating an equally effective plan for transferring hard-earned assets can unfortunately be an afterthought.
For those with the goal of leaving a lasting legacy, developing a tax-efficient wealth transfer strategy is a decision that can impact generations to come as well as to foster harmonious relations in the family.
Here are some key points to consider when planning a tax-efficient wealth transfer:
Be proactive and start planning early. Planning needs to start many months, if not years, before the ultimate transfer.
Involve family members in the process. The passing of a loved one is challenging enough without having to sort through the complex problems of a poorly planned estate.
Work with an experienced and trusted advisor.
Explore the various options available and decide what is best for you and your heirs.
Develop your charitable giving plan and an estate plan.
With sufficient time and planning, you, your family and your advisors can design a wealth transfer plan that is both tax-efficient and fair to all. Proper planning for wealth transfer is an area of specialization for ABG Wealth Management and we welcome the opportunity to help you craft a plan that you and your family can be proud of achieving the results you design.
Alpha Beta Gamma Wealth Management is a registered investment advisor with the SEC. This is not an offer to buy or sell securities. No investment process is free of risk, and there is no guarantee that the investment process or the investment opportunities referenced herein will be profitable. Past performance is not indicative of current or future performance and is not a guarantee. The investment opportunities referenced herein may not be suitable for all investors. All data and information referenced herein are from sources believed to be reliable but there is no guarantee that such information is reliable. Any opinions, news, research, analysis, prices or other information contained on this website is provided as general investment and market commentary and does not constitute investment advice. Alpha Beta Gamma Wealth Management shall not in any way be liable for claims, and make no expressed or implied representations or warranties as to the accuracy or completeness of the data or other information, or for statements or errors contained in or omissions from the obtained data or other information referenced herein. The data and information are provided as of the date referenced. Such data and information are subject to change, without notice. This site and the materials contained herein were created for informational purposes only; the opinions expressed herein are solely those of Alpha Beta Gamma Wealth Management.
Copyright ABG Wealth Services 2017. All Rights Reserved