SESSION OVERVIEW:

Prior to the pandemic, it was expected that trillions of dollars in value would be transferred from one generation to the next as the Baby Boomer demographic began to think about retirement. The world, however, is a much different place today. This module will help advisors to start new conversations with their clients about the multi-generational stewardship of family wealth and its transfer in a completely new landscape. As an advisor, you must help your clients now understand a number of new realities, including the shock of devalued portfolios and business valuations and how this will transform that wealth planning conversation in the context of a sustainable family wealth management plan. Planning with heirs is not always easy, and perhaps today, it is much tougher than it ever was. Your role is crucial and this module will prepare you for it.

APPROACH:

Advisors need to know the components of an effective wealth transition plan and what key decisions need to be made, and with whom, in planning within a family. To execute on all aspects of the plan, tax efficiencies also come into play to preserve wealth.

WHAT YOU WILL LEARN:

• Plan to Transfer both Income and Capital
• Plan Timing of Transfers
• Plan Value of Transfers
• Identify Tax Savings and Reinvest
• Insure Adequately
• Prepare Heirs for the Future Financial responsibilities

LEARNING ACTIVITIES: To test the learning process, the student will answer multiple-choice questions and contemplate the role of the advisor.