Estate planning is as much about values as it is about material wealth. A Merrill Lynch Financial Advisor can help you create a strategy that seeks to look after your spouse, children and future generations in a way that gives you the legacy you’ve earned. Your Financial Advisor can help you coordinate a plan with your accountant and attorney.
What is it that is most important to you? What would you like to pass along that cannot be measured or counted? If you place a high value on education, there are several ways to provide college tuition for a child in ways that are tax advantaged, too. To pass along the spirit of entrepreneurship, many parents and children open a business together with prearrangements for the transfer of control and ownership. This allows parents to see the fruits of their legacy in their own lifetimes. And by using the tax regulations in your favor, you can work towards passing along the maximum legacy possible.
The key to determining what gifting vehicles will work best for you is open communication—both within your family and with your Merrill Lynch Financial Advisor.
