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- advisors@staterawealth.com
Bringing it all together
WHAT KIND OF LEGACY DO YOU WANT TO LEAVE BEHIND?
Effective estate planning is a lifelong process of building, managing, protecting, using and eventually transferring your assets in the most efficient manner.
You have worked hard to accumulate your estate. Let’s make sure goes where you want it to, whether that’s to family members, charities or a combination of both. Statera works in tandem with your CPA and your attorneys to design and execute the estate plan that achieves your desires in the most tax-efficient manner possible.
Family dynamics are important to understand during the estate planning process and at the point of wealth transfer. Throughout the lifelong process, Statera strives to educate your family’s younger generations about your family values, your personal finances, and how your investments and estate plan work so that when the time comes, they are able to handle the responsibility with ease and precision.
We will help you with:
**The information contained above is provided with the understanding that it is not intended to be interpreted as specific legal or tax advice. Neither Statera nor any of its employees or agents are authorized to give legal or tax advice. Individuals are encouraged to seek the guidance of their own legal or tax counsel.
Estate planning generally focuses on the legal structure for managing and transferring assets, including wills, trusts, powers of attorney, and beneficiary designations. Legacy planning takes a broader financial perspective and may also consider how wealth is transferred, charitable goals, family values, tax considerations, and how beneficiaries are prepared to receive assets. Financial advisors typically coordinate these objectives with estate planning attorneys and tax professionals rather than providing legal services.
Legacy planning can begin whenever an individual or family wants to be intentional about how wealth will eventually be used or transferred. A plan may become particularly important as assets grow, family circumstances change, retirement approaches, or charitable goals become more significant. Because tax laws, family circumstances, and financial priorities change over time, legacy plans should generally be reviewed periodically.
Wealth transfer planning may involve beneficiary designations, lifetime gifts, trusts, charitable strategies, and decisions about which assets are transferred during life versus at death. Different assets can have very different income, gift, and estate tax consequences. Because these rules can be complex and change over time, wealth transfer strategies are generally coordinated among financial advisors, estate planning attorneys, and tax professionals.
Charitable giving can be coordinated with retirement, tax, investment, and legacy goals. Depending on an individual’s circumstances, charitable strategies may include cash gifts, appreciated investments, qualified charitable distributions from IRAs, donor-advised funds, or more advanced charitable planning techniques. The appropriate strategy depends on the donor’s objectives, assets, tax situation, and desired timing of the gift.
A donor-advised fund, or DAF, is a charitable giving account that allows a donor to make an irrevocable contribution to a sponsoring charitable organization and potentially receive a tax deduction in the year of the contribution, subject to applicable tax rules. The donor can generally recommend grants to eligible charities over time. Donor-advised funds can also make it easier to organize charitable giving and may accept certain appreciated assets.
Certain charitable giving strategies may provide tax benefits when properly structured. For example, donating appreciated investments rather than selling them first may help avoid realizing certain capital gains, while qualified charitable distributions may allow eligible IRA owners to direct distributions to qualifying charities. The availability and value of tax benefits depend on individual circumstances and current tax law, so charitable strategies should be reviewed with qualified tax professionals.
Trusts can serve a variety of purposes, including managing assets, establishing instructions for beneficiaries, providing continuity in the event of incapacity, supporting charitable goals, and addressing certain estate or tax planning objectives. Different types of trusts have different legal and tax consequences. An estate planning attorney should determine whether a trust is appropriate and draft the legal documents, while a financial advisor can help coordinate assets and financial planning with that legal structure.
Legacy planning often involves financial, legal, and tax decisions that overlap. A financial advisor can help organize financial objectives, review account ownership and beneficiary information, model potential wealth transfers, and identify issues to discuss with an estate planning attorney or CPA. The attorney can address legal documents and structures, while the CPA or tax professional can evaluate tax consequences. Coordinating these professionals can help keep the financial plan, estate documents, and tax strategy aligned.
Legacy planning often involves financial, legal, and tax decisions that overlap. A financial advisor can help organize financial objectives, review account ownership and beneficiary information, model potential wealth transfers, and identify issues to discuss with an estate planning attorney or CPA. The attorney can address legal documents and structures, while the CPA or tax professional can evaluate tax consequences. Coordinating these professionals can help keep the financial plan, estate documents, and tax strategy aligned.
The information provided on this website is for general educational purposes only and is not intended as individualized investment, tax, or legal advice. Financial strategies should be evaluated based on each individual’s circumstances. Tax and legal matters should be discussed with qualified tax and legal professionals.
