Inheritances

Many "baby boomers"are seeing their parents' age dramatically. They know that their parents will sadly pass on in the years ahead. These can be very troubling times as it may be the first time death has touched one "so close to home".

Often times, there is significant intergenerational wealth transfer in the form of an inheritance of cash or property. While these events should never be part of one's Financial Plan, when they occur, wealth strategies must be put into place to protect what was been bequeathed.

Prior estate planning by you and your parents with Transitions Wealth Strategies will definitely smooth this transition of wealth and will protect the legacy from being eroded by taxes.

Some of the issues that arise include...

• Estate preservation from taxation (PDF1)
• Minimizing probate costs
• Testamentary Trusts
• Tax minimization in the receiver's hands
• Contestability issues
• Investment Strategies
• Estate freezes
• Distinguishing from Net Family Property

At Transitions Wealth Strategies, we act as your personal guide and mentor to ensure that your inheritance is handled as effectively as possible. Through their Wills, your parents expressed their wishes for what was left after their passing. Working with Transitions Wealth Strategies will ensure these wishes are accomplished as effectively as possible.

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