Category: Estate Planning

Vanilla

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Jun 24, 2025

Estate planning can be complex—but a revocable trust (also known as a living trust) offers a flexible, effective, and increasingly popular solution for managing and distributing assets. A revocable trust is a legal entity you create during your lifetime to hold and manage your assets, which you can change or revoke at any time. It provides control while you're alive, protection during incapacity, and streamlined asset transfer after death. Whether you're a high-net-worth individual or simply looking to protect your family, understanding the benefits of a revocable trust is essential. Below are ten compelling reasons to consider adding one to...

Vanilla

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Jun 17, 2025

Introduction Survivorship life insurance, often referred to as second-to-die insurance, is a specialized form of life insurance that covers two individuals—typically spouses—and pays out a death benefit only after both have passed away. While this policy type may not be as widely discussed as traditional single-life insurance, it plays a pivotal role in strategic estate planning, especially for high-net-worth couples. This article explores how survivorship life insurance works, its unique benefits for estate planning, how it compares to single-insured policies, and when it’s most effectively utilized. We’ll also examine optimal funding structures and common pitfalls to avoid. Whether you’re a...

Steve Lockshin

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Jun 11, 2025

For advisors working with very wealthy families, understanding the hierarchy of estate planning tools is essential to structuring optimal, tax-efficient, and flexible multigenerational plans. Here’s a practical framework to guide your thinking. To dive deeper, download How Vanilla Helps Advisors Plan Across Generations here. Start at the top: GST-exempt trusts Generation skipping transfer tax-exempt trusts are the gold standard for multigenerational wealth transfer. When properly structured, a GST-exempt trust: Is exempt from transfer taxes for generations—forever Can include a spouse as a beneficiary, providing flexibility and access Is highly effective for multi-generational planning when situs is established in favorable jurisdictions...

Vanilla

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Jun 02, 2025

Estate planning is one of the most important—and frequently overlooked—aspects of a client’s financial life. Despite its importance, a significant number of adults don’t even have a basic will in place. This gap represents both a risk to clients’ families and a tremendous opportunity for advisors to deepen relationships by addressing a crucial area of need. While estate planning conversations can feel awkward or emotional, avoiding them may result in confusion, unnecessary expenses, or the client’s final wishes not being carried out. When advisors take the lead in these discussions, they provide peace of mind, safeguard client legacies, and position...

Vanilla

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Jun 02, 2025

June 2, 2025 — Vanilla, the most trusted estate planning platform for advisors, was named a finalist in four categories at the 2025 WealthManagement.com Industry Awards, recognizing our continued innovation and impact in estate planning software. Now in its 11th year, the “Wealthies” honor outstanding organizations and individuals that support financial advisor success. Vanilla has been recognized in estate planning across the following categories: Advisor Service and Support: Document Abstraction Services Implementation: Vanilla Academy Technology: V/AI Copilot Thought Leadership: The State of Estate Planning Report 2025 “These recognitions affirm what we’ve known from the start—that modern estate planning requires tools...

Madison Eubanks

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May 22, 2025

Making plans for what happens after you’re gone can be uncomfortable and even frightening—but in the long run it’s one of the most important things you can do for your loved ones. Leaving behind a will is the best way to ensure your wishes are followed and that your family isn’t left making difficult decisions with no guidance.  Wills are essential tools in estate planning, and there are several different types to be aware of. Choosing the right type of will depends on your own personal, financial, and familial circumstances.  Not all wills are the same; different types serve different...

Vanilla

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May 12, 2025

You've likely had clients ask, "Do I need a will or a trust?" It's a common question that deserves a thoughtful, personalized response.  The confusion between wills and trusts often leads clients to make decisions that don't fully address their specific needs. Without proper guidance, they might opt for the simplest solution without understanding the long-term implications for their families and estates. This guide will equip you with clear explanations of the key differences between wills and trusts, their respective advantages and disadvantages, and a framework for helping clients determine which option or combination of options best suits their unique...

Simona Ondrejkova, CFP

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May 07, 2025

In estate planning, there are several types of trusts especially designed to help individuals avoid or reduce estate taxes. One of these is the credit shelter trust. The credit shelter trust is often used by married couples as one of many estate planning strategies that can help them pass on more wealth to beneficiaries after both spouses pass away. Here, we explain what a credit shelter trust is, how it works, and when you or your clients should consider using it to leave a greater legacy by minimizing or even eliminating the estate tax bill. What is a credit shelter...

Vanilla

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Apr 30, 2025

Helping clients navigate estate planning is becoming a non-negotiable aspect of comprehensive wealth management. Research indicates 70% of clients believe their advisors should offer estate planning services, and 40% would change advisors if it meant switching to one who did offer estate planning. So while you may not draft legal documents yourself, understanding the nuances of estate planning, like trust structures, allows you to have more meaningful conversations with clients and collaborate effectively with their attorneys. Two primary trust options—revocable and irrevocable—serve distinctly different purposes in your clients' financial plans. The right choice depends on each client's unique circumstances, priorities,...