Advanced Estate Planning Creates Opportunity


How we help our high net worth clients plan is the difference between success and failure. In this recent case, the advisors successfully came to together with some help from the InKnowVision team to meet the goals and objectives of their high net worth client.

Case Facts and Goals

Duncan and Tina are both 65. They live a comfortable lifestyle, spending about $1,600,000 a year after taxes. Their annual income exceeds their spending. With assets worth approximately $62M and annual income of over $7M, they currently pay just over $2M a year in income taxes and have an increasing estate tax and ongoing income tax exposure.

The primary planning goals are to:

Make sure that they have sufficient funds to live on for the rest of their lives (approx. $1,600,000/yr. after taxes and gifts).

Assure that Duncan’s, Inc. does not have to be liquidated as a result of their death.

Provide a successful transition of the business to their son, Jason, while ensuring an equal inheritance for their son, Jeremy. They would like to leave 50% of their estate to Jason & Jeremy and another 25% to their grandchildren and other family members.

They wish to continue annual giving to their family foundation and ultimately leave 25% of their estate to the foundation at death.

Make sure the company buy/sell agreement accurately reflects the wishes of the family owners in the most tax efficient manner possible.

Eliminate or reduce estate taxes.

Learn how the clients met their goals through advanced planning.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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