Leaving the Loot: Estate Planning for the Young and Wealthy
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Understand strategic, money-saving ways to help your clients plan for the future when they are young and wealthy.
Planning for death or disaster is low on the list of ways people want to spend their time - especially if they are young and busy. But proper and proactive planning can create peace of mind and major tax benefits for people of means. Understand the importance of an estate plan, teach them about the basic documents essential to any estate plan, and introduce them to more sophisticated estate planning techniques appropriate for wealthy individuals seeking to leverage their available tax exemptions. Common misconceptions about asset protection, what makes up a taxable estate, and which documents control who receives assets at death are included in this topic. Whether the listeners have (or are advising people with) inherited wealth or are up-and-coming business leaders experiencing rapid wealth accumulation, this topic is packed with smart tips and core essentials about leaving the loot.
Speakers: Benjamin P. Brunette, Melissa C. Selinger
Course Content:
| Who Are the Young and Wealthy? |
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The Importance of Estate Planning for the Young and Wealthy |
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- Leaving the Loot – Who Are the Beneficiaries?
- Who Is in Charge – Choosing Fiduciaries
- Minimizing the Tax Bite
- Common Misconceptions
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Blocking and Tackling: The Basic Documents |
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- Will
- Trust(s) – Revocable vs. Irrevocable
- Powers of Attorney for Health Care and Property
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Overview of the Transfer Tax Regime |
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- Gifts (Lifetime Transfers)
- Estate (Transfers at Death)
- Generation-Skipping Transfers (GST)
- State Estate Taxes
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What to Do Next? |
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- Assemble a Good Team of Advisors
- Get a Basic Plan in Place
- Discussion of Advanced Estate Planning Techniques and Income Tax Considerations
- Freeze Techniques for Appreciating Assets
- Charitable Planning
- Insurance Trusts
- Residence or Vacation Home Trusts
- Pet Trusts
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Circumstances Change; Plan for Flexibility |
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