In my 20 years of working as a wealth advisor for hundreds of high net worth families, I have found facilitating family meetings to be one of the most meaningful and impactful things I do. An effective family meeting opens up the lines of communication regarding a family’s shared values around money and wealth and can become an unforgettable family bonding experience paying dividends for many years into the future. Taboo Topics Handled With Care We live in a society where conversations ... [Continue Reading]
Articles and resources related to Estate Planning.
As a firm dedicated to providing an integrated wealth management experience, we help our clients effectively maximize their assets and unlock opportunities to realize their personal and financial goals. An important aspect of this comprehensive approach is advising clients on the intricacies of their estate plan. One of the most consequential decisions in estate planning is who to name as trustee. The trustee’s knowledge, commitment, ability, and skill will have an enormous impact on ... [Continue Reading]
The nature of estate planning is that it is truly an ongoing process. It's prudent to review and periodically update plans in light of numerous factors. Health, family changes, and changes in related laws are a few of the most common reasons you may want to update your plan. A recent law, the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019, includes significant changes that could have an impact on your estate plan. It is therefore very important that existing documents ... [Continue Reading]
In late December, the Setting Every Community Up for Retirement Enhancement (SECURE) Act was signed into law. As a result, now is an ideal time to revisit retirement and wealth distribution plans to ensure they are in alignment with the new rules, and explore the opportunities created by these changes to help you further establish your legacy. Because the SECURE Act also impacts trusts that are named beneficiaries, now is also an excellent time to reexamine your estate plan. Below is our ... [Continue Reading]
Estate tax laws continually change, making it important to review your estate plan periodically. Working alongside a Carlson Capital Management tax professional will help you understand how the new laws will impact your estate and its beneficiaries, as well as your financial position today. Federal Level: Higher Exemptions and PortabilityConsider the new, higher lifetime estate exemptions: Only individuals with taxable estates greater than $11,400,000 and estates of married couples greater ... [Continue Reading]