Historic Ark Row
118B Main Street
Tiburon CA. 94920
3468 State Highway One
Stinson Beach, California 94970
Historic Ark Row
118B Main Street
Tiburon CA. 94920
3468 State Highway One
Stinson Beach, California 94970
Family Wealth Transfer is a phrase used to describe the process of transferring property from one generation to the next in the most efficient and effective manner. The process usually includes the use of trusts because trusts can incorporate contingency provisions in preparation for any number of events.
For example, an individual with financially secure children may wish to leave his or her money to a trust for the benefit of his or her children for their lifetimes and then upon the children's death, the trust property would be paid out to his or her grandchildren. If the money were left to the children instead of a trust, the money would be subject to the estate tax at two levels before it got to the grandchildren. Of course for this plan to be effective, you must have a properly drafted estate plan that coordinates the estate tax, the income tax and the generation skipping transfer tax (GSTT).
Other Family Wealth Transfer techniques include: