Wealth Conservation Phase
This phase in which one plans for the transfer of wealth to another person or institution.
The last phase of a financial life called Wealth Conservation. Leaving wealth to family or to others we choose without considerable wealth erosion is not an easy matter. Entire wealth estates have been dramatically reduced because of the lack of wealth conservation planning. The estate laws are not friendly when one dies without planning. Estate taxes, income taxes, attorney fees, accounting fees, appraisals, penalties, sales charges, and forced sale of assets are waiting to confiscate your wealth and provide frustration and distress to your heirs.
Problems contained within Wealth Conservation phase:
- Income taxes
- Estate Taxes
- Lost opportunity costs
- Probate fees
- Attorney fees
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- Accounting fees
- Appraisals
- Market fluctuations
- Illiquidity
- Forced sale of assets and more……
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Wealth In Motion® strategies provides the framework for a smooth and efficient transition of one’s wealth with the least amount of erosion while still allowing for complete control and enjoyment of the assets.
Objectives for this phase:
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- Reduce income taxes
- Avoid lost opportunity costs
- Reduce Probate and Court costs
- Avoid Estate Tax confiscation of Assets
- Avoid unnecessary attorney or accounting fees
- Reduce market risks
- Avoid forced sale of assets or illiquidity
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