Q4 Wealth Planning Emails

Email 1

SUBJECT: Understanding America’s Wealth Planning Gap

While more than two-thirds of Americans say they understand the importance of discussing end-of-life financial planning with loved ones, only 47 percent have actually done it, according to a recent study. Another report found that a third of millennials aren’t even sure whether their parents have an estate plan at all.

This lack of clarity around wealth planning and inheritance can become a major problem for families once the parents pass away. Unexpected heirs, like half-siblings, may enter the picture looking for a piece of an inheritance, which can lead to a time-consuming and costly probate process through the courts.

This is all the more reason for financial planners to emphasize the future cost and time savings that come with wealth planning ahead of time. Contact us today to learn about the wealth planning process and the best way to broach these conversations.

Email 2

SUBJECT: Why Digital Assets Should Be Part of Your Wealth Plan

When we think about wealth planning and inheritance, our mind goes to hard assets: homes, bank accounts, investment portfolios. But in today’s digital world, more and more assets are being stored online. And many conventional wealth plans don’t account for this reality.

Take cryptocurrency — without the correct password, it’s impossible to access a person’s digital wallet. And what happens if a person passes away without proactively including these digital assets in their will? A client risks wasting their hard-earned assets and being unable to pass on their money to loved ones after their death.

We understand that death can be a sensitive topic to discuss. But at AIMCOR EIG, we think of wealth planning as a proactive, compassionate step — by planning to take care of loved ones and descendants ahead of time, people are investing now to make their loved ones’ inheritance process easy and stress-free. Drop us a line to learn more about how our team can help your advisory update its wealth planning protocols for the present day.

Email 3

SUBJECT: Understanding the TCJA provisions

As we approach 2025, let’s talk about the potential changes coming from the Tax Cuts and Jobs Act (TCJA) that may affect clients’ investment strategies and overall financial planning. As you may know, several provisions of the TCJA are set to expire at the end of 2025. This includes changes to individual income tax rates, the increased standard deduction, and the limits on itemized deductions. Here are some points to keep in mind from CNBC:

1. The current estate and gift tax exemption under the TCJA allows tax-free transfers from wealthy Americans to the next generation.
2. In 2024, the lifetime estate and gift tax exemption for individuals is $13.61 million or $27.22 million for married couples.
3. Next year, that limit will adjust for inflation before dropping by roughly one-half after 2025 if Congress does not extend the provision.
4. Transfers above those thresholds could be subject to a maximum tax rate of 40%.

Given these upcoming changes, it might be a good time to review your approach to them. Contact us to learn more about how our team can help you become more meaningful to your clients.