Grow Your Practice With Trust & Estate Planning

Grow Your Practice With Trust & Estate Planning
John Yackel, CEO, Trucendent

Trust and estate planning is an integral part of wealth management. A comprehensive estate plan allows for the preservation of wealth, a facilitated transfer of assets, and the minimization of fees and taxes.

Estate planning was once considered something for only high net worth individuals, but that’s no longer true. Without an estate plan, the courts decide who receives a person’s assets, which can take years of complicated negotiations. An estate plan ensures protection for its beneficiaries, and is necessary for anyone who wants to ensure that their assets are divided in a certain way. Estate planning can also reduce the burden of tax when assets are transferred, and it grants protection to beneficiaries of the will from the Internal Revenue Service (IRS). Without a plan, the amount of taxes that those who receive assets must pay can be steep. Additionally, trusts are not only compatible with clients’ investment programs, but can also add value to the overall plan and provide net cash inflows.

Through its digital planning engine and recommendations, Trucendent can solve the challenges faced by advisors who are struggling with managing intergenerational wealth and facilitating wealth transfers. By offering trust and estate planning services, advisors are able to protect and extend their revenue, because they are empowered to develop relationships with the next generation and continue to manage trust accounts, which have an average lifespan of 15 years. Advisors can also leverage their wealth management services to differentiate themselves from other financial advisors who don’t have fully implemented financial planning and wealth management services. Trucendent allows advisors to maintain their role as client expert and use the Trucendent platform to oversee the details of a wealth transfer. With Trucendent, advisors no longer have to grasp for solutions that end up being sub-optimal, nor do they need expertise in estate planning to manage a wealth transfer process. Trucendent’s integrated and cohesive platform allows advisors to maintain a leadership role in a partnership with attorneys and trust companies, in order to deliver a complete plan for the transfer of wealth across generations.

To learn more, watch Trucendent’s webcast: Growing Your Practice With Trust & Estate Planning. Topics include:

  • How offering trust services can help investors grow their practice
  • Comprehensive estate planning can better service current relationships
  • The tax and estate planning dynamics expected to drive the trust business
  • Legal, operational, and fiduciary considerations

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