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Legacy Planning

Legacy planning is essentially the part of your financial plan to be implemented after you pass away. In its simplest terms, you define how, and to whom you would like to leave your assets to and create a strategy to do this in the most direct and tax efficient way. This delves significantly deeper than just preparing a simple will. Unfortunately, many people do not properly prepare and their heirs end up losing much of their inheritance to taxes. We work with estate planning attorneys who can translate what you wish to accomplish into a plan. This may involve the drawing up of trusts in order to accomplish the goal or may it be as simple as re-titling of an account or updating your beneficiaries.

Some strategies that we utilize:

  • Using life insurance to pay out a tax free lump sum benefit to heirs
  • Organizing beneficiaries properly in order to allow for the disclaiming of assets
  • Leveraging your required minimum distributions to pay for life insurance
  • Structuring the titling of accounts in order to skip probate
  • Directing and limiting annuity income payments to beneficiaries as per your wishes
Principles of Preserving Wealth

How federal estate taxes work, plus estate management documents and tactics.

Estate Management Checklist

Is your estate in order? This short quiz may help you assess your overall strategy.

A Primer on Irrevocable Life Insurance Trusts

Irrevocable life insurance trusts can be important tools that may accomplish a number of estate objectives.

Exit Strategies of the Rich and Famous

Beacon Financial Group and LPL Financial do not provide legal advice or services. Please consult your legal advisor regarding your specific situation.