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Wealth Transfer & Distribution

There are two areas to wealth transfer & distribution. 

The first is withdrawing money the most proper and tax efficient way from your savings and investments.  The rules of the game change in the second half, which is the distribution period or withdrawal phase (retirement).  Most financial and investment advisors focus on the accumulation phase, and do not focus on income planning, tax planning and distribution strategies.  A proper distribution plan requires a combination of financial products and tax strategies, and it needs to be coordinated with Social Security.

The second is the wealth that you do not use and want to pass to your heirs or charities.  If you do not or are not planning on spending all of your assets, then you want to transfer and distribute your assets to whom you want to with the least amount of taxes, expenses and fees. These people may include children, grandchildren, great grandchildren, churches, charities, or numerous other organizations. There are several vehicles and strategies available to assist you with this part of planning. Wills, Trusts, Charitable Bequests and Gifting Strategies are a few of the most important strategies. Ownership and beneficiary designations are key issues here. So many times this important information is ignored in planning or even wrong. Properly set up ownership and beneficiary information can save time, money and problems. Legal Documents are also vital elements here. Wills, Trusts, Power of Attorney, and other legal and ancillary documents play very important roles during the retirement years. Properly set up legal documents can literally save thousands of dollars, countless hours, maintain privacy and save several unnecessary problems for you and your heirs. Proper planning will ensure that you have things set up correctly and are using the most effective tools and strategies properly for your goals and objectives. If you do not use all of your assets, make sure that your beneficiary's will be the first in line and will get as much of your assets as possible. Please check out our estate planning strategies link on this website for more detailed information.