ESTATE PLANNING STRATEGIES

Developing An Estate Plan Strategy For You & Future Generations

A Life Plan doesn’t only include your financial planning for as long as you live, but for generations to come.

Your Life Plan can live on to impact your family, community, and employees. Work with your Financial Advisor and Teams to create an estate plan strategy to control your finances and health now, and let your gifts and directives make the greatest impact possible. With proper strategies, you may be able to maximize your opportunities and help manage stress and confusion for your loved ones – Now that is leaving a legacy.

To get started, download our Estate Planning Strategies Guide below.

Estate & Generational Wealth Planning to Leave your Legacy:

Each Trilogy Financial Advisor is invested in empowering you to leave the legacy you always dreamed.

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 Protect Your Estate

With proper estate planning strategies, you may be able to maximize your opportunities and help manage stress and confusion for your loved ones. Surprisingly approximately 50% of 50-year-old people don’t have a will in place — despite the fact that almost 60% of 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 to thoughtfully prepare your financial plan and estate plan with your Financial Advisor. This will help make sure that your executor respects and upholds your values, goals and desires for your estate.

Legacy Planning for Your Future Generations

Legacy planning is an important part of estate planning and gives you the opportunity to pass on your assets to your loved ones.

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.

Generational Planning & Transferring of Wealth to Family

We know that family means the world to you, and a thoughtful approach to leaving money for family will help you feel secure in your transitions. Whether you know exactly what you’d like to do with your legacy or are looking for suggestions, we are committed to supporting the needs and goals of your entire family and helping map out your generational wealth plan. Let your Life Plan do the heavy lifting of mapping out your financial journey so you can enjoy life and feel prepared for the future.

YOUR FINANCIAL ADVISOR MAY ASK THE FOLLOWING:

1What are your preferences about how your wealth (great or small) passes to your heirs?
2What would you like to do to help your beneficiaries avoid the disagreements and costs that probate can sometimes cause?
3What have you done to transfer your wealth in the most tax-efficient way possible?
4Do you already work with a Financial Advisor and estate attorney that are acting in tandem? How do they communicate with each other?
5How 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 your Financial Advisor, among others.

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 may suggest legal counsel in deciding your generational plan to include split interest gifts.

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

Planning a Family Meeting to Create Your Estate Plan

One of the most important parts of creating an estate plan with your Financial Advisor is collaborating with the various generations within your family. As a fiduciary, a Trilogy Financial Advisor will look beyond assets and bridge the communication gap between generations to tailor family wealth management guidance based on the needs of the individual members and the family as a whole.

We understand that these meetings are sometimes tough to orchestra and conduct. But we also know that more than half of generational wealth transfers fail due to a lack of family preparation and other issues of trust or communication. Your Financial Advisor, and other experts, can bridge that gap, guide those conversations and mediate discussions so that you can build the best estate plan strategy for your family’s needs and goals.

Let Trilogy help you create consistency among your family estate plan so you feel more comfortable that the assets you spent your life to build will go on, prosper and continue to bless your family and generations to come.

Disclaimer: Trilogy Financial and LPL Financial do not provide legal advice or services. Please consult your legal advisor regarding your specific situation.