Legacy Planning in a Tax-Efficient Manner

Mr. Stillman's Opus

It can be challenging for a lot of folks to think about legacy planning because it takes a lot of forward thinking. Not everyone wants to plan that far ahead, but for some, it’s incredibly important to leave their loved ones with an inheritance.

Today we are answering a question from someone who wants to leave money for their children and grandchildren but also wants to ensure that they’re not paying more in taxes on that money than they need to. John will examine some common thoughts and concerns that revolve around legacy planning and discuss some better ways to think about the answer to this question.

This video focuses on how to ensure your legacy is as tax-efficient as possible. Whether you are a parent or grandparent, understanding how to structure your inheritance can make a significant difference in the amount of money your heirs will receive. This is the final part of a four-part series where we’ve been looking into how children and grandchildren fit into financial planning, as we take a holistic view of how they tie into your financial future.

Here’s what we discuss in this episode:

0:00 – Intro

2:47 – Passing on money from tax-deferred accounts.

5:13 – When to start the legacy discussion.

8:42 – The challenges to structuring a legacy in a tax-efficient manner.

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