Family Wealth Management and Wealth Transfer

Family Wealth Management and Wealth Transfer

November 13, 2020
Welcome to the Weekly SUMmary - 11/13/2020

If you are over the age of 50 and have ANY assets, this may be one of the most important conversations you'll ever have.

As we know, Boomers are one of the largest generations we've seen to date. Although there are many that are still in the workforce, it is a good idea to begin planning for transferring wealth to the next or future generations. Possibly you are more charitably inclined, don't want to pass all assets to heirs or don't have heirs, there are still plenty of options. Some more beneficial to all parties than others.

Here are a couple of key considerations depending on your situation:

  • Pass assets to children
    • Children may be in the highest earning years of their lives forcing them to pay more in taxes than other stages of life
    • Are there ways to keep assets in the family while mitigating taxes?
  • Pass assets to grandchildren
    • They may be in low earning years, BUT
    • Grandchildren may have more difficulty with the responsibility that comes with an estate. Are there ways to secure the assets and ensure they are handled responsibly?
  • Charitably inclined
    • Are there ways to use the assets, pass assets on to a charity (or vice versa) and minimize taxes for all parties?

Other Considerations?

When to start the wealth transfer?

Family disputes, arguments, and contested tranfsers.

If nothing else, start the conversation Consider planning for future transfers.

One way to do so is to attend an educational webinar 11/18/2020 from 5 to 6PM MST. Register here:

Any information contained in this message is for educational purposes and not to be construed as advice or recommendation. Each situation is unique and should be consulted with an advisor. Information provided is sourced from continuing education, advanced designation and degrees. (11/20)