Category: Estate Planning

Simona Ondrejkova, CFP

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Oct 09, 2023

Estate planning for clients who have adults or children with special needs in their lives can be complex. Unlike traditional estate planning, special needs estate planning requires paying careful attention to the individual with special needs’ eligibility for government benefits. This is in addition to skillfully leveraging assets to most effectively attend to their unique health and wellness needs. Imagine that one of your clients is a family with three adult children, all living in different states. The two younger brothers have established their own families and are financially comfortable. But their oldest sister is living with muscular dystrophy and...

Simona Ondrejkova, CFP

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Sep 29, 2023

While everyone can benefit from a properly structured estate plan, it becomes even more critical for those with higher levels of wealth. High net worth and ultra-high net worth families often face unique challenges that may demand more sophisticated approaches to preserve and protect their wealth. Estate planning for high net worth individuals often starts with the same foundation as for smaller estates. But because larger estates are more likely to be exposed to estate taxes, creditors, and family or business conflicts, additional planning is required to mitigate these and other risks. Before offering several strategies that advisors and clients...

Simona Ondrejkova, CFP

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Sep 26, 2023

Beyond helping clients reduce capital gains taxes or income taxes, advisors are uniquely positioned to help clients preserve more of their wealth through proper estate tax planning. Imagine that just a few months after the unfortunate death of one of your clients, their surviving spouse or children find out they have to pay a large unexpected estate tax bill. What if this tax bill could’ve been avoided?  Taking advantage of estate tax planning tools like gifting, trusts, and the marital deduction can help clients achieve their unique goals, maximize tax savings, and reduce survivors’ financial stress. Here, you’ll learn how...

Jim Sinai

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Sep 15, 2023

Introducing Vanilla’s first-ever State of Estate Planning report Advisors are at a crossroads. Technology is shaking things up, economic policies are evolving, and new generations of clients are knocking on the door. Finding ways to future-proof your business in the face of change and uncertainty can be daunting, so we decided to shine a light on clients' ever-changing needs and help advisors anticipate where the industry might be headed. This summer, we surveyed more than 1,000 Americans to capture the pulse of public opinion on a wide spectrum of estate planning issues.  Today, we are thrilled to share the result...

Simona Ondrejkova, CFP

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Sep 05, 2023

Do your clients struggle to structure their estate plan in a way that aligns with their wishes while providing for their heirs in times of need? They may want to consider an estate planning strategy that offers flexibility in distributing assets based on individual needs. This approach allows the trustee to manage the assets as a single pool, with the discretion to distribute them to beneficiaries as needed. It’s particularly useful for clients who want to ensure that each beneficiary receives support based on their unique circumstances, rather than an equal share. While many advisors recommend this strategy for its...

Daniel Brockley

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Aug 24, 2023

We are a nation obsessed with our pets. In the US alone, we spend $123.6 billion on our furry (and scaly) friends every year. It feels like my household alone must account for a sizable chunk of that for our derpy golden retriever Alfie, between healthcare, food, grooming, toys, the occasional boarding, more toys. You get the idea. When it comes to our dog, we are stupid in love and spare no expense.  So, what happens if we’re no longer around to take care of our pets? Just as we make arrangements for our kids in the event something should...

Daniel Brockley

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Aug 22, 2023

Life is unpredictable. Even if you’re at the pinnacle of health, running marathons and doing one-handed pushups, you could find yourself injured in a car wreck tomorrow. That’s why an advanced directive is so important.  An advanced directive is a legal document that gives specific instructions regarding your healthcare wishes if you are incapacitated. There are any number of reasons you might not be able to communicate, including being under anesthesia, in a coma, or simply not well enough to speak coherently. In these instances, medical professionals will look to your advanced directive to guide them on how you want...

Jennifer Raess JD, CFP®, CLU®

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Aug 07, 2023

What do you think of when you hear the term “estate planning?” If you’re like two-thirds of Americans over the age of 18, you may assume it’s something you can do another time. In fact, the majority of U.S. adults don’t have a will and have not done anything to plan for their estate.  However, you don’t have to own a mansion or business to make estate planning work in your favor. For those with any amount of net worth, estate planning alleviates the family strife of having to make important life and financial choices on your behalf. It also...

Jim Sinai

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Aug 02, 2023

What changes in estate planning when rates go up? Over the past two years, interest rates have moved from near zero to 5.25%. Most clients are probably worried about how rising rates will affect their investment and retirement accounts. But advisors working with high net worth clients should also consider how a 500+ basis point shift in rates affects advanced estate planning strategies. Some strategies become more attractive as interest rates rise, while others become less attractive. Advanced estate planning strategies  There are a number of advanced estate planning strategies that can be used to reduce a client’s taxable estate...