Estate & Generational Wealth Planning to Leave your Legacy:
Each Trilogy Financial Advisor is invested in empowering you to leave the legacy you always dreamed.
Creating an Estate Plan
Generational Planning & Transferring Wealth
Powers of Attorney
Writing a Will
2nd & 3rd Marriages
Organizing List of Accounts and Passwords
Getting Started on an Estate Plan
We know you have planned your financial life and worked hard to get where you are. We will be your advocate and aim to help you preserve wealth for your life and if you choose, future generations.
Developing your estate plan involves a series of decisions that are then communicated in writing. Your Trilogy Financial Advisors are prepared to work with your estate planning team, or help you build a team, so you can pursue a legacy plan to suit you and your goals.
Taking Steps to Help Preserve Your Estate
Our Financial Advisors work with clients to understand the story their money is telling, and in many cases, whether that money has an unwritten final chapter. Let your Financial Advisor coach and guide you through the critical elements of an estate plan, your opportunities, and tax requirements so your legacy can live on with the greatest impact.
Legacy Planning for Your Future Generations
Did you know most people don’t have will in place? Despite the fact that many Americans plan to leave an inheritance. Taking time to create estate strategies not only helps you put your financial house in order but can also save you money. By documenting your wishes and goals, you create a legal framework that the courts, your executor and your loved ones can follow when settling your estate. Without these strategies in place, your family risks going through a lengthy and expensive process — which could alter any wishes you had for your legacy. Take some time with your Financial Advisor and a legal professional to thoughtfully prepare both your financial plan and estate plan. This will help make sure that your executor respects and upholds your values, goals and desires for your estate.
Generational Planning & Transferring of Wealth to Family
Your Financial Advisor may ask the following:
What are your preferences about how your wealth (great or small) passes to your heirs?
What would you like to do to help your beneficiaries avoid the disagreements and costs that probate can sometimes cause?
What have you done to transfer your wealth in the most tax-efficient way possible?
Do you already work with a Financial Advisor and estate attorney that are acting in tandem? How do they communicate with each other?
How would major shifts in your life expectancy (either longer or shorter) affect your financial and estate plan?
Planned Giving & Other Gifting Strategies
for Your Life Plan
Developing a planned giving strategy is one of the most impactful ways that your legacy can live on for generations. Depending on your unique situation and goals, planned giving may be a smart and heartfelt legacy planning strategy for you.
As developing any financial plan, there can be challenges when structuring an estate plan to include gifting money to family, loved ones and your community. Planned gifts are most often granted once the donor has passed away, and are donated through a will or trust that you develop with the guidance of your Financial Advisor and legal professionals.
Common planned gifts include current gifts, deferred gifts and split-interest gifts. Current gifts are those given and received now, and can include cash or checks, stocks or bonds, real estate, personal property, and art or antiques. Deferred gifts are decided upon now in a trust or a will, but received by your chosen organization at some time in the future, often at the end of your (or your spouse’s) lifetime. A bequest is the most common deferred gift.
Split interest gifts shared benefits with both you as the donor (or your family) and your chosen organization. There are many types of split-interest gifts, each has numerous nuances and financial responsibilities, and some are very sophisticated and complicated. When working on your financial and estate plan, your Financial Advisor will suggest legal counsel when deciding to include split-interest gifts in your generational plan.
Your Financial Advisor may discuss the following with you:
Considering your life insurance options and how they live on to be part of your gift
Connecting you with an estate attorney to structure your gift and find the tax efficiencies
Communicate your gift and help your non-profit of choice plan to leverage your generosity
Disclaimer: Trilogy Financial and LPL Financial do not provide legal advice or services. Please consult your legal advisor regarding your specific situation.