Estate Planning / Generation Planning

People spend a lifetime accumulating assets and building an estate with the intention of passing it on to their heirs or charitable beneficiaries. Without proper planning, a person’s death can create significant hardships on the people for which the estate was created.

Planning for Generations to come – is no easy feat

Did you know that you might lose half of your estate to taxes upon your death?

How will a divorce affect the legacy you built for your children and grandchildren?

Have you considered the steps that need to be put in place to make sure the care of a special needs child is in place?

How can you avoid family turmoil in the distribution of your assets?

These are valid questions. You have worked too hard to not have a plan in place to help protect the estate you have built. Upon your passing, having a proper estate plan will go a long way to assuring that your final wishes, in regards to your assets, are fulfilled.

Passing on your legacy and assuring your loved ones are taken care of after your passing is a huge concern and one of the most overlooked items in planning for the future. Although contemplating our own mortality is not at the top of our list as humans, it is a necessity. If you have been charged with caring for loved ones it is essential.

Are you aware that there are significant tax issues that your estate might be subject to upon your passing?

Make sure your spouse has sufficient funds to live upon your passing. If you do not have a plan in place, the government does and be assured, it benefits them, not your family. Let Maverick Management’s Wealth Advisors show you ways you may potentially be able to avoid making mistakes that could cost you over half your estate.

Do I need a trust? If so, what kind?

Here at Maverick Wealth Management,  Advisors we can show you unique ways to plan for the distribution of your future estate. Whether you are looking to help fund college for your grandchildren, donate funds to your favorite charity or setting up a trust, the partners at Maverick Wealth Management are ready to answer all your questions and concerns. We are even ready to show you the questions you did not even know you should of considered asking.

A trust can also be an effective tool for transferring assets to an adult grandchild, while reducing estate taxes and allowing your influence on the assets even after you have passed away. A simple revocable trust or irrevocable trust may suit your needs, or you may want to consider one of the trusts with distinct benefits for grandchildren, listed below.

  • Generation-skipping trusts can allow trust assets to be distributed to non-spouse beneficiaries two or more generations younger than the donor without incurring GST tax.
  • Credit shelter trusts make full use of each spouse’s federal estate tax exclusion amount to benefit children or other beneficiaries by bypassing the surviving spouse’s estate.
  • Irrevocable life insurance trusts (ILITs) purchase life insurance policies to provide immediate benefits upon death that do not usually pass through probate.

Ensure your beneficiaries receive exactly what you want them to without taxes or expenses eating them away.

You’ve worked a lifetime to build your estate, don’t allow a lack of planning to destroy it. A few moments of time with our advisors could potentially save your loved ones a lifetime of financial insecurity.


Maverick Wealth Management and it’s partners can help guide you.