ESTATE PLANNING STRATEGIES

A well-designed estate plan helps preserve your wealth, protect you and your family in the event of your expected incapacity or death, and helps ensure the management of your assets for your heirs. We will work as a team with you and your tax and legal advisors to understand your wealth transfer needs and suggest suitable strategies and documents needed to achieve your goals.

Well-developed estate plans typically include:

Wills
Durable power of attorney
Life Insurance
Trust
Life Insurance
529 Plans
Charitable giving techniques
Strategies to help reduce estate taxes
Proper beneficiary designations

A Trust can be an important component of an estate plan and serve many purposes such as:

Minimizing estate taxes
Providing for the management of your assets should you become incapacitated
Ensuring assets are distributed to your intentions whether it be to your family and/or favorite charity

Retain full control
Amendable at any time
No gift tax liability on transfer into trust
Avoids probate and ensures privacy
All assets included in grantor’s estate are stepped up at grantor’s death

Funded after death of first spouse to shelter the applicable exclusion for the surviving spouse’s estate
Allows for surviving spouse to have access to income and principal
Protects applicable exclusion from estate tax liability, letting couples shelter twice the exemption

Provides income to charity for a period and remainder to heirs
Benefits charity while preserving estate for beneficiaries can be established at death or during life
Value of trust asset is discounted for gift or estate tax purposes

Grantor retains income for years, after which appreciation passes to beneficiary
Taxable to grantor during the term of the trust
Included in the estate only if the grantor dies before the term expires. Gift tax value may be discounted

Grantor can provide for spouse and specific beneficiaries without giving spouse control of assets
Enables the use of “poor” spouse’s exemption if created during grantor’s lifetime
Avoids estate tax on death of first spouse because of unlimited marital deduction
Included in taxable estate of beneficiary spouse

Funded with life insurance and is irrevocable; replaces principal lost to estate taxes
Generally little or no income tax liability
Avoids estate tax
No gift tax liability if value of premium or the existing policy qualifies for annual exclusion gifts

_{Trust services available through banking and trust affiliates in addition to non-affiliated companies of Wells Fargo Advisors. Any estate plan needs to be prepared and reviewed by an attorney who specializes in estate planning and is licensed to practice law in your state. Please consult your legal advisors to determine how this information may apply to your own situation.}

_{Insurance products are available through non-bank insurance agency affiliates of Wells Fargo & Company and are underwritten by non-affiliated Insurance Companies. Not available in all states.}

_{Wells Fargo and Company and its Affiliates do not provide tax or legal advice. This communication cannot be relied upon to avoid tax penalties. Please consult your tax and legal advisors to determine how this information may apply to your own situation. Whether any planned tax result is realized by you depends on the specific facts of your own situation at the time your tax return is filed.}