The conversation of what happens when something happens to you is never easy. You want to spend your days thinking of how you will live your life, not fretting over what will happen after you're gone.
Let the team at Centerpiece help you put together a wealth transfer plan that puts your mind at ease. We can begin with the basics
These foundational documents help in the seamless transfer of your assets to the next generation.
You want your family to benefit from any remaining assets or income you can leave behind. The last thing you want is to leave the distribution of those assets to chance.
Documents like general POA and healthcare POA help protect you during times of incapacity. These documents also provide directions for your family members through traumatic events.
Don't leave the passing of your legacy to chance or to probate court. Ensure your property is titled correctly and beneficiaries are clearly designated.
Health Care POA
Beneficiary & Property Titling
Have a plan for estate taxes!
The estate tax exemption has varied over time and changes frequently. And the changes are not always in the favor of the taxpayer.
Estates with values over the estate tax exemption can pay significant taxes. Your ability to avoid these taxes is limited if you don't plan during your lifetime.
You need to know the laws that apply to you and the legacy you want to leave behind. Our team has the experience, knowledge, and resources to help you overcome challenges and create a tailored estate plan.
You can minimize the following transfer taxes through careful planning.
Estate taxes apply to any portion of your estate valued over the estate tax exemption at the date of death. The amount of the exemption fluctuates widely and is subject to tax law changes that can come about every time power shifts in Washington DC. Careful planning can help you minimize estate taxes.
Generation-skipping transfer tax applies when property is either gifted or inherited by a skip generation or a beneficiary at least 37.5 years younger than the donor. This seems easy to avoid, but a mistake in how assets are titled, wills are written, or trusts are structured can trigger GSTT. Avoiding GSTT requires diligent planning.
Income in respect of a decedent is any income a deceased individual would have received had they survived, and the income has not been included on their income tax return. IRD can be triggered by various sources, including RMD's not yet taken at the time of death. You can avoid surprises like IRD tax with a well-thought-out estate plan.