Hilliard Lyons Trust Company, LLC
Create the legacy you choose and make the challenge of transferring your wealth less challenging
When you have a substantial amount of wealth, transferring your assets to your loved ones can be complicated. Rather than allowing taxes to eat away at your legacy, take advantage of the strategies and tools available to preserve the wealth you have accumulated. Hilliard Lyons—in conjunction with its affiliate company, Hilliard Lyons Trust Company, LLC and your own attorneys and accountants — can develop a wealth transfer plan that takes into account your hopes and dreams for your family, any special needs they may have, your philanthropic goals, and the amount of money you need to retain for your own purposes. and your own attorneys and accountants
Transferring Wealth Effectively
If you’re not careful, taxes can quickly erode your estate. There are steps you can take today to better protect your assets for your beneficiaries.
The key to effective estate planning is to minimize the taxes that will be imposed on your heirs. Transferring assets to your children or other beneficiaries, such as charitable causes, over the course of your lifetime can substantially reduce the taxable value of your estate at death.
Hilliard Lyons Trust Company can help you sort through the myriad of wealth transfer strategies which can help you maximize the value of your estate and achieve your desired goals.
Making the most of your assets requires an understanding of complex tax laws and a strategy which effectively removes assets from your taxable estate. Hilliard Lyons can help you figure out how much you can comfortably afford to give away and the best ways to do so. This will depend upon a number of factors, such as the size of your portfolio, your time horizon and your goals for the future. We will help you determine how much you need to keep to meet your own needs, and the best ways to give away the assets you don’t need.
You can use gifting strategies, set up trusts or make charitable contributions as ways of meeting your estate planning goals. It typically makes sense to start by giving away assets that are most likely to appreciate. It also makes sense to take advantage of tax-advantaged gifting strategies. Taxpayers are allowed to give away $14,000 per beneficiary ($28,000 for married couples) per year without being subject to gift tax, and make an unlimited amount of educational or medical gifts provided they are paid directly to an institution.
For those with significant wealth, these strategies may not be enough to transfer a sufficient amount of assets. Hilliard Lyons Trust Company can help with other, more sophisticated and tax-efficient ways to transfer wealth, such as setting up a Charitable Remainder Trust or establishing a private foundation.
Trust services are offered through Hilliard Lyons Trust Company, LLC, an affiliate of J.J.B. Hilliard, W.L. Lyons, LLC. J.J.B. Hilliard, W.L. Lyons, LLC does not offer tax or legal advice. Please consult your tax advisor ot attorney before making any decision that may affect your tax or legal situation.