What is family wealth, and how do you preserve it?


You have worked hard for years and accumulated wealth. You earned this money through your job, investing, and saving, and you want to preserve it for yourself and to take care of the family you love. With the projected modification of the current legislation, 2023 looks like a year to potentially benefit those interested in creating a wealth transfer planning strategy through generational giving. There are several ways to pass wealth between generations that may provide tax advantages to help preserve it for the younger generations, as opposed to watching it disappear due to a tax consequence. Here are three options that you may consider. Before making any decision, it is beneficial to consult with a financial professional so that your choices may potentially carry over not just today but into the future.





These are just three options you can choose when considering creating a wealth transfer strategy. For many people, leaving a lasting legacy for their loved ones is an important step when planning for the future. However, doing so is often complex and requires help from a financial professional to oversee the details and simplify the financial management so that it is a personalized and comprehensive approach. When considering generational gifting, it is critical to consider everything from retirement and estate planning strategies, taxation, current, and future cash flow, and more. Guidance from a financial professional has the potential to save you and your loved ones costly, time-consuming mistakes. Set up a consultation today!


Important Disclosures

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

This information is not intended to be a substitute for specific individualized tax or legal advice. We suggest that you discuss your specific situation with a qualified tax or legal advisor.

LPL Financial Representatives offer access to Trust Services through The Private Trust Company N.A., an affiliate of LPL Financial.

All information is believed to be from reliable sources; however LPL Financial makes no representation as to its completeness or accuracy.


This article was prepared by LPL Marketing Solutions


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