When I started in the financial services industry, the estate tax exemption amount was around $600,000—a far cry from the current $11.2 million estate tax threshold.
But, I’m getting ahead of myself.
Before we can even begin to discuss how to best plan for estate tax exemption amounts for your financial situation, we need to start with the basics: How would you like your assets distributed, and to whom?
Many times, when we ask these basic questions as part of our estate planning services, executives find that they need to revisit and update their estate plan to reflect changes in their lives. It’s also not unusual to find executives who haven’t approached the basics at all. This is nothing to be ashamed of—in fact, it’s completely understandable. After working 60-plus hours a week, the last thing you want to discuss is estate planning.
The topic, however, is crucial because all of the wealth you are working so hard to accumulate means nothing if you can’t direct where and how it is ultimately distributed. Here’s a closer look at our process for providing estate planning services to corporate executives. We’ll also dive into how we use your personal priorities and goals to determine the estate planning investment strategies that make the most sense for your financial situation.