Ultra-high-net-worth estate planning
The estates of ultra-high-net-worth individuals and families – those with assets of $30 million or more – can be inherently complex, so having a comprehensive estate plan is crucial to help ensure a seamless transfer of wealth, mitigate taxes and avoid potential legal battles. To this end, we can employ a number of effective strategies specific to the preservation of wealth.
The high-level solutions we provide are guided by our experience and also encompass the specialized knowledge of Raymond James professionals in financial disciplines such as wealth preservation, tax efficient wealth transfer, trust services and charitable giving strategies.
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It is all too easy for estate planning to become more of an exercise in reducing or deferring taxes rather than a directive on the mark you want to leave on the world. To avoid having your wishes take a back seat, your estate plan should start with what matters to you most.
Families that have perpetuated their wealth across multiple generations have recognized and embraced the importance of contributing to the financial, human, intellectual and social capital of their families and communities.
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As you make careful plans for how your wealth will pass to your heirs, it is important for everyone involved to clearly understand your wishes, as well as the process by which they will be carried out. We can help you make sure everyone knows where to turn.
Wealth has the power to unite families, but also has the capacity to drive them into conflict. To help limit that possibility, you should place a priority on open communication and consider the benefits of creating a family constitution that defines the role of each family member as it relates to financial and business matters and can serve as an effective governance tool.
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With so much to keep track of, it’s important to document it. To help you prepare and safeguard important documents to help ease the stress on loved ones during a difficult time, we can coordinate with your attorney on important legal documents such as a will, healthcare directives, a list of accounts and even a heartfelt letter to your family.
If you already have an estate plan, it is crucial to review it once a year or whenever you have a major life change such as a marriage, divorce, birth or death in the family.
Trust services
A trust gives you a greater degree of control over your estate, from mitigating estate taxes to providing detailed distribution instructions. We can navigate the many types of available trusts, helping you select the type that best suits your goals, needs and wishes.
Charitable giving
Through the charitable organizations whose missions you hold dear, you have the capacity to touch many lives. We can help you incorporate charitable giving into your wealth management plan, taking into account tax implications that allow your goodwill to truly make a positive impact.
VISIT OUR CHARITABLE SOLUTIONS PAGE
Raymond James does not provide tax or legal services. Please discuss these matters with the appropriate professional.
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We take a tax-sensitive approach to financial planning and work with you and your other professional advisors – CPAs, tax attorneys – to help minimize the impact of taxes. By developing and implementing strategies designed to lessen or shift current and future tax liabilities, we can improve your prospects for meeting your financial objectives. Tax planning can also play a large role in the amount of wealth you will be able to someday transfer to your heirs. Please know that tax laws are often complex and frequently change.
Raymond James does not provide tax advice. Please discuss these matters with your tax professional.
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While establishing a charitable legacy can be achieved in many ways – through venture philanthropy, private foundations, donor advised funds or outright gifts – your elevated position post-sale could make a family foundation an effective vehicle for both philanthropy and family governance.
A private foundation allows you the greatest degree of control over your charitable giving, both during your life and after your passing, and by placing family members in key roles, you can help pass effective wealth management and philanthropy expertise from one generation to the next.
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Individuals and families with significant wealth may be exposed to risks such as litigation, cybercrimes, identity theft and professional liability. We can work with risk management professionals to assess your situation and implement strategies, such as placing your assets in trusts and other legal entities, and making sure you have an adequate level of property and liability insurance.
