Vanilla Blog

Vanilla

•

Jul 11, 2025

A persistent, common misconception is the belief that having a will helps to avoid probate. Clients frequently assume their carefully crafted will protects their family from probate and its potentially lengthy court proceedings, expensive legal fees, and public disclosure of financial information. The truth often surprises clients: wills require probate to be legally effective in most situations. Understanding this relationship, and knowing how to educate clients about effective probate avoidance strategies, can significantly improve your advisory relationships while helping families achieve their actual estate planning goals. Why probate avoidance matters to your clients It's crucial to understand why probate avoidance...

Vanilla

•

Jul 10, 2025

Introduction Imagine a family caught off guard by the sudden loss of a loved one—left scrambling to make legal decisions, untangle financial assets, and settle emotional disputes without a clear plan. Unfortunately, this is a common reality for families without an estate plan. Many people delay or avoid estate planning due to common misconceptions: “It’s only for the wealthy,” or “I’m too young to need it.” In truth, estate planning is not just for the ultra-rich or elderly—it’s a critical process that benefits people of all ages and financial backgrounds. Whether you want to protect your children, support a charitable...

Patrick Carlson, JD, LLM

•

Jul 10, 2025

The landscape of estate planning has shifted dramatically with the passage of the One Big Beautiful Bill Act (OBBBA). For financial advisors, understanding these changes is crucial for guiding clients through a new era of permanent estate tax rules that fundamentally alter planning strategies. The game has changed: OBBBA rewrites estate tax rules The OBBBA eliminates the looming 2026 sunset provision and establishes permanent estate tax rules with a $15 million federal exemption per person starting in 2026, rather than the estimated $7.3 million that would have resulted from the sunset. This isn't just a temporary reprieve—it's a complete restructuring...

Steve Lockshin

•

Jun 27, 2025

The recent headlines surrounding Jimmy Buffett’s $275 million estate are not just tabloid fodder—they’re a case study in what happens when good planning on paper meets the unpredictability of human relationships and unclear expectations. While we don’t yet know the full facts, what’s emerging is an all-too-familiar theme: a fight over control of a legacy that was likely intended to bring comfort, not conflict. Buffett was known for living life on his own terms, building an iconic brand that fused music, real estate, hospitality, and culture. He also did what many high-profile individuals do: he put his assets into a...

Karen Nachbar

•

Jun 26, 2025

As Chief Legal Officer at Vanilla, I speak with customers frequently about the risk that the unauthorized practice of law (UPL) presents for wealth advisors. Balancing UPL risks as we build product is top of mind for our incredible team at Vanilla. We include thoughtful guardrails but also provide flexibility to our customers who can decide for themselves how to best mitigate their risk. What is UPL, and why should you care? UPL is giving legal advice when you’re not a lawyer. Every state has its own definition of UPL, but generally speaking, it includes: Drafting or preparing legal documents...

Jessica Lantz

•

Jun 24, 2025

June brings powerful new changes to help you calculate, collaborate, and customize like never before. This month’s releases are focused on delivering a more intuitive and frictionless experience for both you and your clients.  Unified Vanilla Experience: Everything in one seamless workflow The Problem: Vanilla users often work across multiple functions, requiring a unified interface that supports their diverse responsibilities. The Solution: Access all client functions from a single, intuitive dashboard that adapts to your workflow needs Enjoy streamlined document management with a simplified upload process—add files directly and choose your next steps, whether that's AI summaries, abstraction requests, or...

Vanilla

•

Jun 24, 2025

BELLEVUE, Wash.-- Vanilla, the category-defining estate planning platform for financial advisors, announced today that Emily Tran has joined the company as Vice President of Marketing. Tran will lead all facets of Vanilla’s marketing strategy, with a focus on driving awareness, deepening advisor engagement, and accelerating adoption of the platform across the wealth management industry. Tran brings over 10 years of financial services marketing experience to the role, most recently serving as Head of Marketing at Practifi, a CRM platform for advisory firms. Prior to that, she held senior marketing positions at Morningstar, where she led integrated campaigns that supported product...

Vanilla

•

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

•

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...

Vanilla

•

Jun 13, 2025

Setting the standard in estate planning: From experience to innovation When Steve Lockshin—ranked the #1 financial advisor in the country by Barron’s—founded Vanilla, he didn’t set out to build just another software platform. He set out to solve a problem he lived every day: the complexity of managing ultra-high-net-worth (UHNW) estates. With over 35 years of experience advising the wealthiest families in America, Steve knew the stakes. From generation-skipping transfer tax planning and state estate taxes to derivative strategies and complex fiduciary structures—these aren’t theoretical problems. They’re daily realities. That’s why he built Vanilla: the platform that transforms real-life expertise...

Steve Lockshin

•

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

•

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...