Risk Management Strategies
We believe that proper trust and estate planning is the cornerstone of developing a lasting legacy and transitioning wealth. We think that it is important to engage our client's tax and legal advisors to address these goals.
Because your financial future depends on a variety of uncontrollable circumstances, we provide you with access to a wide range of insurance coverages that can protect your financial security by helping with unforeseen costs and losses. These include disability, life and long-term care insurance as well as review your existing insurance policies.
Through our affiliation with Wells Fargo Advisors Financial Network, we offer access to a comprehensive range of trust and discretionary asset management services tailored to the circumstances of each trust.
Trust Services are available through Wells Fargo Bank, N.A. Member FDIC and Wells Fargo Delaware Trust Company, N.A. Insurance products are offered through nonbank insurance agency affiliates of Wells Fargo & Company and are underwritten by unaffiliated insurance companies.
Wells Fargo Advisors Financial Network is not a legal or tax advisor.
Valuable Resources
2023 Retirement Plans Overview for Professionals
A successful retirement plan helps achieve the business’s goals. If a business owner is developing a plan for the first time, he or she should review the available alternatives and the business’s and participants’ goals before making a choice. If an owner is evaluating an existing plan, the first step should be to determine whether the business’s and participants’ goals are the same as they were when the plan was first implemented. If either party’s requirements have changed, the plan may need adjusting.
Last Instructions for my Survivors
One problem survivors often have is finding documents and valuable papers. You can help your survivors with this process by completing this form. Give copies to your loved ones, executor/executrix, lawyer, and anyone else who will need this information. You should review and update this information periodically.
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Guide for Successor trustees
Being appointed as a successor trustee for a deceased individual’s trust means taking on a great responsibility. And like many individuals in this position, this may be your first experience. This brief guide will help you understand what to expect and what you may be required to do.
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Retirement Plan Distribution Options Discussion Guide
It is important that clients and prospects are well informed regarding the key information they should consider when contemplating their options regarding a distribution from a QRP. Even more important, you want to be sure that clients understand how the distribution option they choose might impact their retirement goals. Regulators are focusing on these conversations and transactions because they want investors to be knowledgeable regarding their options.
Understanding the Per Stirpes Beneficiary Designation
With a per stirpes designation, if a beneficiary predeceases you, and you do not update your beneficiary designations, or a beneficiary disclaims their portion, their share would go to their lineal descendants; usually their children. Any named beneficiary who predeceases you and has no lineal descendants will follow the standard designation, if a per stirpes designation was selected.
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Learn about Retirement Plan Distribution Options
Are you considering the various options for your savings in your qualified employer sponsored retirement plan (QRP), such as a 401(k), 403(b), or governmental 457(b)? Know that what you choose to do with your current retirement savings can have a substantial impact on your future. You generally have four options for your QRP distribution.