Multigenerational wealth planning helps to ensure your family’s wealth, legacy, estate planning issues, and charitable giving strategies are all properly managed. 

  
 
Estate Planning Strategies  
Before you can develop strategies for your estate plan, you’ll need to identify your planning objectives. Ask yourself the following questions: 

• Whom do you want to benefit from your wealth? 
• Do you want to donate some or all of your wealth to charity? 
• Do you want to transfer some of your wealth to your beneficiaries during your lifetime or only upon your death? 
• Do you have any situations that require specialized planning, such as a previous marriage or a special needs child?

With these questions answered, we can help you develop tailored strategies that address:

• Preserving the value of your estate  
• Maximizing what you transfer to your beneficiaries 
• Minimizing the transfer taxes you must pay, including federal and estate taxes  
• Managing assets for your spouse, children or grandchildren  
• Establishing a will through your attorney to plan for specific bequests to children or charities 
• Setting up a trust and identifying a trustee  
• Coordinating with your tax and legal professionals to pull all the necessary information together  

Charitable Giving Strategies  
Are you are seeking ways to meet your philanthropic goals while maximizing your tax benefits? If so, we can help. Although there are a variety of charitable giving strategies available that provide both income tax and estate tax benefits, each strategy is unique:  
 
Donor-Advised Funds  
Donor-Advised Funds (DAFs) are created and administered by a charitable organization to which donors contribute assets. They have no upfront costs or administrative hassle, and they accept a wide range of assets as contributions.

Pooled Income Funds  
Pooled Income Funds (PIFs) are created and administered by a charitable organization to which individual donors contribute assets.   
 
The property contributed by the donor is commingled with contributions from all other donors and managed as one large pool of assets. The donor will receive income based on the annual performance of the fund.   
 
Charitable Remainder Trusts  
Charitable Remainder Trusts (CRTs) are generally appropriate for a donor who wants to make a charitable gift for the income tax and estate tax benefits and wants to retain an income stream from the assets.   
 
Individuals who benefit most from a charitable remainder trust are comfortable with the significant upfront costs to set up the trust and the ongoing administrative burdens caused by annual trust tax filings.   
 
Private Foundations  
A private foundation is a legal entity created by an individual or group of individuals for some philanthropic purpose.   
 
When choosing a charitable giving strategy, we can help you balance the advantages and disadvantages of the strategies above and can coordinate with your legal and tax advisors regarding your unique situation.

 

Stifel does not provide legal or tax advice. You should consult with your legal and tax advisors regarding your particular situation.