Coordinated Estate Planning

Dealing with complex estates after the passing of a loved one can bring stress and uncertainty in an already difficult time. Supporting our clients requires clear communication and close collaboration with attorneys, CPAs and others.

Coordinated Estate Planning

Dealing with complex estates after the passing of a loved one can bring stress and uncertainty in an already difficult time. Supporting our clients requires clear communication and close collaboration with attorneys, CPAs and others.

Understanding how to handle a complex estate requires a team effort. We work closely with attorneys and CPAs to help families understand the estate and act strategically to ensure all beneficiaries are cared for.

SCENARIO

Complex Estate Coordination
After the passing of their spouse, our client was left with a significant estate that included multiple trusts. The family wanted to ensure mom would be taken care of, but also minimize the tax impact of any gifting from the estate. Washington State now has an estate and gift tax on any amount beyond $2.193m, so the client’s attorney recommended that she gift assets in excess of $2.193m to her children. We determined that she would have more than enough income for her needs between the remaining $2m and access to trust funds that were funded after her spouse’s death.

We coordinated four significant gifts to meet the attorney’s direction, while also working closely with the client’s CPA to be fully prepared for any capital gains taxes resulting from making cash available for the gifts.

We’re here to help.

Let us help lift the financial anxiety associated with your estate planning. Know that your advisory team is here for you to help navigate the complexities and choices you face when managing an estate.

“When it comes to complex estates, it takes a team effort. We work closely you’re your attorneys, accountants and tax professionals to ensure seamless coordination of your estate plan.”


BRIAN MARS

President & COO, Senior Financial Advisor

KEY CONSIDERATIONS – TAX-WISE ESTATE PLANNING

  • Wishes of benefactor
  • Advice of attorneys, CPAs, or family financial managers
  • Complexity of the estate
  • Needs of primary beneficiary(s)
  • Number and needs of additional beneficiaries
  • Tax implications of gifts or sale of stock from estate
  • Wishes of benefactor
  • Advice of attorneys, CPAs, or family financial managers
  • Complexity of the estate
  • Needs of primary beneficiary(s)
  • Number and needs of additional beneficiaries
  • Tax implications of gifts or sale of stock from estate