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, we offer access to a comprehensive range of trust and discretionary asset management services tailored to the circumstances of each trust.
Trust services available through banking and trust affiliates in addition to non-affiliated companies of Wells Fargo Advisors. Wells Fargo Advisors and its affiliates do not provide legal or tax advice. Any estate plan should be reviewed by an attorney who specializes in estate planning and is licensed to practice law in your state. Insurance products are offered through nonbank insurance agency affiliates of Wells Fargo & Company and are underwritten by unaffiliated insurance companies.
Valuable Resources
Learn about your 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.
Revocable Living Trusts
A revocable living trust can accomplish a variety of personal, family, and tax planning goals. It typically lets you retain complete control of trust assets during your lifetime, but it also lets you appoint someone who will manage your assets for you, either during your lifetime or after your death.
2021 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.
Understanding Per Stirpes Beneficiary Designations
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.
A Guide to Estate Settlement
This guide to the estate settlement process is designed to help you understand what you can expect and what you may need to do. When it comes to settlement, all estates aren’t created equal. Some can be complicated while others are relatively simple. Take a few moments now to review this guide. You’ll find suggestions about how you can prioritize your tasks and helpful reminders to ease the process. One of the most important things you can do is to take especially good care of yourself during this process—eat properly, keep a watchful eye on your health, and spend time with friends and family.
Key Person Life Insurance
Key person life insurance is used to protect a business against financial losses or additional expenses resulting from the death of a key employee or owner. Either term or permanent life insurance can be used. The main purpose of this insurance is to provide the business an immediate source of tax-free cash. Key person life insurance may be needed because the death of a key employee may cause serious financial strain for a closely-held business.
Do you Need to Update your Estate Plan?
Is it time to update your estate plan? This checklist provides examples of life events that could lead you to review or change your estate planning documents and/or beneficiary designations. The fact that you have experienced one of these changes does not always require an amendment or change. But at a minimum, it is a good idea to have a brief conversation with your attorney to keep him or her apprised of your situation.
Five Important Estate Planning Documents
No matter what your age or net worth, you need an estate plan to protect yourself, your loved ones, and your assets — during your lifetime, as well as after your death. Before visiting with your attorney, it’s helpful to have a basic understanding of the documents he or she may recommend for your plan.
A Guide to Estate Settlement
This guide to the estate settlement process is designed to help you understand what you can expect and what you may need to do. When it comes to settlement, all estates aren’t created equal. Some can be complicated while others are relatively simple. Take a few moments now to review this guide. You’ll find suggestions about how you can prioritize your tasks and helpful reminders to ease the process. One of the most important things you can do is to take especially good care of yourself during this process—eat properly, keep a watchful eye on your health, and spend time with friends and family.