VISION!  ESTATE PLANNING

ESTATE DISCOUNTING DEVICES

  • QPRT - Qualified Personal Residence Trust

  • GRAT/GRUT - Grantor Retained Annuity/Unitrust

  • FLP - Family Limited Partnership

  • IDGT - Intentionally Defective Grantor Trust

PLANNED CHARITABLE GIVING

Want to change the world, fund a cause you are passionate about, or memorialize your family name? Potentially increase your own current and future income tax deductions, generate lifetime income, substantially reduce your estate tax liability, and avoid taxable gain on highly appreciated assets (real property, equities, a business interest, collectibles) by shifting those assets to a charitable trust with an ultimate charitable beneficiary.

LIVING/INTER-VIVOS TRUST

Living trusts are the most common and familiar form of trust. They are used principally to avoid probate, establish power of attorney, appoint successor trustees and conservators, state medical directives, and manage and distribute assets upon the death or incapacity of the grantors. Living trusts are revocable, meaning they can be amended, modified, or updated in similar fashion to a will. For a trust to be effective it must be "funded." This means that to take effect, the title of assets you want to be controlled by the trust must bear the title of the trust. It is not uncommon for trust grantors and drafters to miss this essential step when trusts are created, making the trust of no effect over grantors' assets.

ILIT (IRREVOCABLE LIFE INSURANCE TRUST)

Keep life insurance, intended to pay your estate taxes, out of your taxable estate! 

Life insurance proceeds are generally income tax free, but they are added to the value of all the other assets in your estate for purposes of calculating your estate tax liability if you retain any "incidents of ownership." An ILIT, when properly executed and funded, can help avoid this potential tax trap and conserve the life insurance proceeds for the full  benefit to your heirs as intended.

Gary Edkins offers financial planning services and investment advisory services through Pruco Securities, LLC (Pruco), doing business as Prudential Financial Planning Services [PPFS], pursuant to separate client agreement. Offering insurance and securities products and services as a registered representative of Pruco, and an agent of issuing insurance companies. Vision! Executive Insurance & Financial Services is not affiliated with The Prudential Insurance Company of America and its affiliates, including Pruco. Other products and services may be offered through a non-Prudential entity. 1-800-778-2255.

Availability of Long-term care and disability income insurance varies by carrier and state.

Vision! Executive Insurance & Financial Services and its representatives do not render tax or legal advice. Please consult with your own advisors regarding your particular situation.

Securities: CA, DE, NC

Life Insurance: CA, CA Insurance License: 0624963

Variable Life Insurance: CA

Mutual Funds: CA, DE, NC

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