Estate Planning

Interested in leaving a financial legacy for your loved ones, contributing to your charitable endeavors, or simply ensuring that your wishes are followed when it comes to medical care and the distribution of your assets? You’ll need a plan to make them all work together.

 

The Great Wealth Transfer is the forecasted hand-off of $90 trillion from Baby Boomers to their young Generation-X, Millennial, and Generation-Z adult children and grandchildren over the next 20 years.*


*Northwestern Mutual's 2024 Planning & Progress Study.

Things to consider

While having the right strategies, structures, and documents in place is essential to the successful transfer of your wealth to subsequent generations, it’s how well you communicate that will have the greatest impact. Your Janney Financial Advisor can help you to better share your financial values, lessons, and life experiences to better prepare them to make good use of their legacy.

 

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Inventory your estate

Before coming up with a plan, make sure you’ve accounted for all the assets you own and know their actual present value.

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Update beneficiary designations

When it comes to many assets, your beneficiary designations take precedence over any stipulations made in your will.

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Ensure estate liquidity

Life insurance death benefits can offer a tax-efficient way to transfer wealth and provide needed liquidity to your estate.

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Prepare your heirs

Strong financial values are learned from parents, not professors. Sit down and have an open, honest inheritance conversation.

What to ask your Janney Financial Advisor

  • How can you help me to better prepare my estate to reflect my wishes?
  • Could life insurance and/or a trust make transferring my wealth easier and more tax-efficient?
  • It’s been a while since I updated my estate plan and beneficiary designations, how do I figure out if they're still appropriate?
  • Who should I choose to serve as executor of my estate?

 

 

 

 

Talk with a Janney Financial Advisor

You don’t need to go it alone. Wherever you are on your wealth journey, we can build a tailored financial plan and make recommendations that are aligned with your best interest and unique needs, goals, and preferences. Contact us today to discuss how we can put a plan in place designed to help you reach your financial goals.

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Janney Montgomery Scott LLC, Member FINRA, NYSE, SIPC