Legacy Planning

The IRS has given us few opportunities versus the number of landmines they have set. Most people find it difficult to decipher the tax treatment of different registrations, annuities, and life insurance before and after death. We call attention to the mistakes they want you to make and help you reduce, and in many cases avoid, an adverse tax consequence.

Once a client’s financial future is assured and tax strategy established, we turn our attention to estate planning for trans-generational wealth. Most people are surprised that 90% of inherited wealth does not make it past the third generation. We caution our clients about giving substantial assets outright, and bring in reputable estate planners to align them with the appropriate powers of attorney and wills, testamentary trusts, or trusts. We prioritize estate planning documents even for our clients in the early stages of wealth creation, especially when large insurance proceeds could potentially pass to a minor child without a designated trustee or named guardian.

For enhanced estate planning, we offer our expertise with Irrevocable Life Insurance Trusts and Second-to-Die policies. These tools serve to leverage assets into a tax-free payout that’s not included in our ever-changing estate tax exemption. Your Memphis Planning + Wealth advisor understands the benefits of life insurance as a strategy for high-net worth individuals, and can make proposals to diversify your legacy plan.

Our guided legacy planners serve the greater Memphis area including Collierville, Germantown, Oakland, Lakeland, Cordova, Arlington, Eads, Bartlett and Downtown Memphis.