April Newsletter: How to Leave Your Wealth Wisely — Inheritance, Beneficiaries & Trust Strategies

How Do You Want to Leave Your Money Behind?

Although Americans are living longer and spending more time—and money—in retirement, many parents intend to leave an inheritance to their children. The exact amount can vary greatly depending on individual circumstances and wealth levels, but even a small inheritance can be meaningful and help set a child up for long-term financial success, provided they are ready to handle it, which may not be the case. Read more to learn about the pros and cons of an outright inheritance along with other alternatives.

Beneficiary and Transfer-on-Death Designations: Are You Doing It Right?

Do you know which of your accounts have beneficiary designations, sometimes called transfer-on-death (TOD) or payable-on-death (POD) designations? Have you updated them recently? Are you aware of what can go wrong if there are issues with your beneficiary designation forms? If you answered “no” to any of these questions, read more to learn about the steps to confirm that everything is accurate, complete, and current.

Choosing the Ideal Trust for Your Wishes

Misconceptions about trusts often stem from a lack of understanding about what a trust actually is, how it works, and situations where it can provide benefits above and beyond a will. Wills and trusts are complementary—not mutually exclusive. Read more to learn about how trusts can serve different roles in an estate plan and often address different concerns.

Read April’s full newsletter to learn more, and contact our expert estate planning team to discuss your unique circumstances.