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Estate Planning



Sound estate planning is essential to ensure a lasting legacy. And effective estate planning is an ongoing process that constantly considers changes to your financial goals and objectives. Ganim can help develop strategies that preserve your wealth, distributing it as you intend – not as the state and federal government sees fit.

Living Trusts: Trusts created during someone's lifetime to hold assets during that person's lifetime and thereby remove those assets from probate at death.

Gifting Strategies: Planned giving can be a very rewarding way to do good while also receiving tax benefits. Gifts must be made to not-for-profit organizations that meet certain qualifying criteria. In addition to outright donations, there are a number of other gifting techniques. Different gifting strategies have varying implications for the donor's family and tax situation.
  • Charitable Lead Trusts: Also called Charitable Income Trusts, these are trusts in which the donor transfers income-producing assets to a trustee and instructs the trustee to pay a fixed amount or annual percentage to charity for the term of the trust. At the end of the trust term, assets remaining in the trust are conveyed to the donor or his/her beneficiary or beneficiaries. The donor can claim the present value of the expected payments to charity as a charitable tax deduction.


  • Charitable Remainder Trusts: Trusts used to set aside money or property of one person for the benefit of one or more persons or organizations. Specifically, this type of trust allows the donor to take a deduction for a gift to the trust in the year in which the trust is formed.


  • Wealth Replacement Trusts: A Wealth Replacement Trust is an Irrevocable Trust typically funded with assets and life insurance designed to replace family wealth transferred out as a result of a charitable plan passing assets, generally free of estate taxes.


  • Family Limited Partnerships: Limited partnerships created for family estate planning and some asset protection. A highly appreciated asset is transferred into the Family Limited Partnership to achieve a capital gains tax reduction. Usually, the parents are the general partners holding a one to two percent interest. The other family members are the limited partners holding the balance of the interest in the partnership.
 

To ensure compliance with requirements imposed by the IRS under Circular 230, we inform you that any U.S. Federal tax advice contained in this communication, unless otherwise specifically stated, was not intended or written to be used, and cannot be used, for the purpose of (1) avoiding penalties under the Internal Revenue Code or (2) promoting, marketing, or recommending to another party any matters addressed herein.

Please consult with your tax and legal advisors prior to entering into any trust arrangement.

Securities offered through Registered Representatives of NFP Securities, Inc. (NFPSI), Member FINRA/SIPC.
Investment Advisory Services offered through Investment Advisor Representatives of NFPSI.
The Ganim Group, Inc. is a member of PartnersFinancial, an affiliate of NFPSI.
The Ganim Group, Inc. and NFPSI are not affiliated.

NFP Securities, Inc. does not provide tax or legal advice. Any decisions whether to implement these ideas should be made by the client in consultation with professional financial, tax, and legal counsel.

This site is published for residents of the United States only. Registered Representatives and Investment Advisor Representatives of NFPSI may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed. Not all of the products and services referenced on this site are available in every state and through every representative or advisor listed. For additional information, please contact the NFPSI Compliance Department at 512-697-6000.