AXIUS - Case Study 2: Retired, Concerned About Estate Taxes

Case Study 2: Retired, Concerned About Estate Taxes

AXIUS Financial

Background

Frank and Joan have been married for 70 years and have been retired for 15 years. Both Frank and Joan have pensions from their previous employer. Their main source of income comes from the sale proceeds from Frank’s business which he sold at retirement. They have one small survivorship life insurance policy. Frank and Joan also inherited a significant amount from their parents 30 years ago and are concerned about potential estate taxes. They wish to pass as much of their estate to their children and grandchildren as possible. They also wish to preserve their estate and need help determining what allocation is most appropriate for them and their needs.

Our Recommendations

An estate tax projection would be prepared for Frank and Joan. A review of their existing estate planning documents and titling of their assets would also be prepared. While working with their estate planning attorney, Frank and Joan should update their existing estate planning documents to include provisions for their children and grandchildren as well as satisfying their charitable needs. We would help Frank and Joan determine their risk tolerance and reallocate their accounts in accordance.