Section · Plan
Estate Planning
Transfer taxes, documents, succession: deciding who gets what, when, and how.
Educational reference: explanations and tradeoffs, never recommendations. Qualified professionals evaluate what fits a particular family.
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Estate Planning: The Landscape
Estate planning is the process of deciding who receives your assets, when and how they receive them, under what conditions and protections, and at what transfer-tax cost; then building a coordinated set of legal documents and…
Pillar
Estate and Gift Taxes
Estate and gift taxes are federal transfer taxes imposed when wealth passes from one person to another, either during…
Pillar
Business Succession Planning
Business succession planning addresses how a family-owned or closely held company transitions ownership and leadership…
01
Transfer Taxes
1 entries
02
Documents
4 entries
Wills and Revocable Trusts
A will and a revocable living trust are the two foundational documents in most estate plans: the will directs who receives property that passes through…
Powers of Attorney and Health Directives
Powers of attorney and health directives are legal documents that authorize trusted individuals to make financial and medical decisions on someone's…
Probate
Probate is the court-supervised legal process through which a deceased person's assets are gathered, debts are paid, and property is transferred to heirs…
Letters of Wishes and Legacy Letters
A letter of wishes (sometimes called a legacy letter or ethical will) is a non-binding, private document written by a trust creator to guide a trustee's…
Letters of Wishes and Legacy Letters
A letter of wishes (sometimes called a legacy letter or ethical will) is a non-binding, private document written by a trust creator to guide a trustee's…
03
Techniques
2 entries
Valuation and Discounts
When wealth transfers through gifts or estates, the value assigned to what changes hands determines the tax owed, and for interests in closely held…
Life Insurance in Estate Planning
Life insurance occupies a specific role in estate planning for families with substantial wealth: it can create immediate, liquid cash at the moment of…
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