There are many reasons beyond taxes for clients to have estate plans in place. As their advisor, you can make them aware of these reasons and encourage them to plan accordingly.

 
Did You Know?
In 2021, only 2,584 U.S. estates paid federal estate taxes.*

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Key Takeaway

A well-thought out estate plan can help improve legacy outcomes for your clients and their families.

Understanding the Nontax Reasons for Estate Planning

Select an area to learn more about how it applies to your role as financial advisor.

1

Outline How Assets Will Pass

2

Appoint a Guardian for Minors

3

Nominate People to Act if Client is Incapacitated

Next Step

Ask clients if they have their core estate planning documents in place.

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*Source: Hodge, Scott. "Putting a Face on America's Estate Tax Returns." Tax Foundation, https://taxfoundation.org/estate-tax-returns-data, Accessed May 11.

Examples provided are for illustrative and informational purposes only and not intended to be reflective of results you can expect to achieve.

The Firm does not provide tax advice. The tax information contained herein is general and is not exhaustive by nature. Tax laws are complex and subject to change. Investors should always consult their own legal or tax professionals for information concerning their individual situations.