Wealth Management

Lifetime Gifting

Our advisors will help you determine which type or combination of gifting is best for your situation.

Lifetime gifting strategies shift wealth to future generations or charities to establish a family legacy and to reduce the exposure of your estate to taxes. Our advisors may propose one or more of these strategies for your estate plan.

Generation Skipping Trusts.

This type of trust preserves principal for your grandchildren. Your children generally receive only income from the trust. And since they never legally own the property, it isn't subject to estate tax at their death.

Family Limited Partnerships (FLP).

If you have a business purpose, an FLP can help reduce estate tax and reduce liability while allowing you to maintain full control of investments and assets inside the Partnership.

Direct Gifts to Charities

This is a substantial one time or annual gift to a foundation, museum or other charitable organization or cause. This choice provides immediate tax benefits and guarantees that the gift goes to the charity. Such a gift may be made during your lifetime or through a bequest after your death.

Charitable Remainder Trust

Cash or appreciated assets are placed in a trust and then pass to a specified charity, either at your death or at the death of the beneficiary. Until that time, the trust pays either you or your beneficiary a stream of income. When the trust is funded you may qualify for a charitable income tax deduction.

Charitable Lead Trust

The opposite of a Charitable Remainder Trust, an irrevocable Charitable Lead Trust generates an income stream for the nonprofit organizations of your choice, with the remaining assets eventually going to family members or other beneficiaries. It is typically funded with assets that you do not currently need, are expected to increase in value, and that you wish to keep in your family.

Private Foundations

A private foundation is a time-tested way of fulfilling a commitment to charitable giving while retaining control over how your assets are distributed. The foundation must be organized and operated exclusively for charitable purposes.

We have extensive experience setting up Private Foundations. We can also suggest other charitable planning strategies to establish your philanthropic legacy in the community.

Learn More About:

Managing Your Private Foundation.

Case Study

Providing for the Third Generation

We helped this family revise their estate plan to meet a key planning concern: providing for their children and grandchildren. Read the story.