Convergence of Global Sustainability Standards Reinforces Importance of ESG InitiativesRead More
Estate planning can help control the variables that go into passing generational wealth, and strategies have primarily remained consistent over the past several years. However, the tumultuous stock market, rising interest rates, and burgeoning inflation are catalyzing a re-evaluation of these long-held approaches.
Inflation, in particular, is a concern because it can change the real value of an estate and the related distribution taxes, according to managing director James Daniels. "In order to properly execute an estate plan, it is crucial to know the value of an individual's assets and how the value may change over time," he said. Determining value could mean going as far as "to determine an estate's liquidity to more accurately measure the ability to pay estate taxes."
Read the full article published by Financial Advisor Magazine.
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