Estate Planning and Intergenerational Wealth Transfer

We view estate planning as an ongoing process as life progresses and goals and assets change. Therefore, an effective estate plan is continuously evolving and should be periodically realigned to meet changing circumstances and objectives. The elements of estate planning extend beyond Will creation to the limitation of estate taxes by setting up trust accounts for beneficiaries and establishing guardians for dependents. The most effective elements of estate planning involve lifetime planning in which tax effective valuation discounts and transfers take place using a variety of techniques designed to reduce or eliminate gift or estate tax while giving the grantors the degree of control over these transfers that matches their comfort level.

Charitable Giving

Beacon Trust can help develop a philanthropic planning and administration strategy that enables you to enjoy the personal, emotional and financial benefits of both lifetime and testamentary giving. Commonly used strategies for making gifts to charity include gifting of appreciated assets, direct gifts, charitable remainder trusts, charitable lead trusts, private foundations, donor-advised funds or a combination of one or more of these.

Planning for the sale of a business

Most successful entrepreneurs spend their lives working to grow their businesses, but don’t have the time to focus on optimizing the benefits of their life’s work when they decide to seek a liquidation event. Planning for a successful transition does not begin with cashing the check at closing, but well in advance. Beacon Trust can add value to this process by coordinating with the various advisors involved in the transaction to ensure that all relevant considerations have been taken into account and that appropriate safeguards have been built into the terms of the transaction. Factors to be considered include risk management, family governance, estate planning, charitable giving, income tax planning and investment management. Beacon Trust can then ease the transition through a worry-free investment management process that ensures that sufficient cash flow is generated by the portfolio to meet all lifestyle needs.

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