Helping Clients Pass on Their Wealth
When handing down wealth, your clients have two main options: leaving it outright to their beneficiaries or placing it in a trust so it can be distributed to the beneficiaries over time. An outright distribution is by far the simpler option, but it comes with risks for the unprepared. Read more to learn about howmany inheritors-to-be may not be ready to handle a direct inheritance.
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Things to Consider When Using Beneficiary or Transfer-on-Death Designations
Beneficiary, transfer-on-death (TOD), and payable-on-death (POD) designations promise a smooth, probate-free handoff of assets that can save time and money. These tools take precedence over conflicting instructions in a will, but they are only as good as the care behind them. Read more to learn about the steps to avoid mistakes or missing information, which could potentially lead to unintended and detrimental consequences for the client and their loved ones.
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Which Trust Is Right?
Financial advisors are intimately familiar with a client's financial situation and goals. You may have clients whose needs or goals align with the advantages of a trust. You may want to open a dialogue with these clients about implementing a trust. Read more to learnabout how you can introduce your clients to various available trust types and how a trustmight fit into their financial and estate plans.
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MEREDITH | PC
4325 Windsor Centre Trail
Suite 400
Flower Mound Texas 75028
214-513-1013
This newsletter is for informational purposes only and is not intended to be construed as written advice about a Federal tax matter. Readers should consult with their own professional advisors to evaluate or pursue tax, accounting, financial, or legal planning strategies.
You have received this newsletter because I believe you will find its content valuable. Please feel free to Contact Me if you have any questions about this or any matters relating to estate planning.
