Wealth Transfer Planning

You have worked hard and been smart in both your business and personal life. Over the years, you have accumulated significant assets - more than you will ever utilize in your lifetime. At this point, you want to start thinking about how to transfer your wealth to the next generation and beyond.

If you want to transfer your wealth to family members, the effort of planning for your wealth transfer can be just as significant as it was building it. By adequately planning for the transition of your wealth beforehand, the successful change from all parties’ perspectives increases significantly and can benefit future generations.

How do I protect our family’s wealth from our childrens' decisions?

Some initial questions to consider

The answer to all these questions is complex, and it takes time and expertise to properly develop a plan to deliver on your core vision and values. 

  • How do I initiate a wealth transfer, and where do I start?
  • Are there pitfalls from transferring my wealth that I need to be aware of?
  • Can I avoid wealth transfer taxes?

Once an understanding is obtained about the intention for your assets and recipients, consideration turns to the tools which might be used to transition your asset value and ownership successfully. This transition or transfer of assets is often accomplished by using an estate freeze.

What is an estate freeze?

An estate freeze is where you, the owner of assets, cap the value of assets you own (without triggering tax), and transfer the future growth/appreciation in the value of those assets to your intended recipients. As a result, the future growth/appreciation in the value of your assets (and tax on that future growth) will accrue to those intended recipients. In this process, legal and tax specialists are engaged to support your vision and put the mechanisms in place to ensure a smooth transition for your wealth. You can implement an estate freeze before death or after death by your estate or a beneficiary of your estate (for example, a spouse or spouse trust could carry out a post-mortem freeze). 

Wealth Transfer

Transitioning wealth is a unique process

Whether you have a question about taxes, transitioning assets, or an estate freeze, our team understands what needs to occur and, most importantly, when. Ask us what you need to know.

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