Your Financial Legacy and Taxes

You may think that only other people’s estates have tax problems, but that’s often untrue. Take steps today to insulate your estate from taxes.


Start with income tax projections and planning at least twice a year. Catch tax problems early with your tax professional and find out if there are ways to minimize or even avoid taxes entirely.

Corporate executives with significant wealth in their employer’s stock can develop tax-efficient strategies for diversifying, such as stock donations and creating capital gains budgets.


Don’t review your own tax situation in a vacuum. Instead, consider your family’s overall position.

When you work with your tax professional, provide as much insight as possible into your multi-generational financial situation to minimize taxes—for you and your entire family.


Different assets have different tax characteristics. For example, a charity doesn’t pay tax on an inherited IRA, but your heirs may. So, whether it is an IRA, real estate, or cash remember the tax consequences that beneficiaries may experience.