Do you need an estate plan?

If you own property—a home, bank accounts, investments, business interests, retirement plan accounts, or valuable personal belongings—the answer is a resounding yes. An estate plan allows you to direct exactly how your property will be distributed after your death.

Protecting what you’ve built

Conserving assets is an essential part of estate planning. Taxes, inflation, and unanticipated expenses can all chip away at the value of your estate. We can help you plan for both expected and unexpected expenses—as well as ordinary living expenses, taxes, and inflation.

Why you need a will

You’ve worked hard to build your estate. You deserve the right to decide who’ll receive your assets after your death. This is where your will comes in—a legal document that directs how your estate will be administered and distributed.

A properly drawn will can:

  • Protect your family
  • Minimize taxes
  • Name an executor or personal representative
  • Name a guardian for your minor children
  • Ensure that your assets are managed prudently
  • Avoid delays and provide peace of mind

Estate settlement

Most people instinctively ask a friend or family member to take on this role. But estate settlement is a complex and time-consuming job. Someone new to the role can quickly find themselves in over their head during an already emotionally charged time.

That’s why you may want to consider appointing Truist as a corporate fiduciary. We can fairly and objectively execute the details of your estate plan—and you can always appoint a family member or friend as co-executor to provide oversight. Talk with a Truist Wealth advisor.

Personal and charitable trusts

Making philanthropic gifts can help you further the work of causes you believe in while helping reduce estate taxes. You can make these gifts either outright or in a charitable trust.

Did you know about the advantages of making your charitable gifts sooner than later? Lifetime gifts to qualified charities can provide income, gift, and estate tax savings, as well as help to further the work of organizations you believe in.

And using a charitable trust to make lifetime gifts can give you a current income tax deduction in addition to removing assets from your taxable estate.

Your Truist Wealth advisor is well versed in philanthropic gifting, including charitable remainder trusts, charitable lead trusts, gifting appreciated assets, and more. 

Foundations and endowments

Truist Wealth has a dedicated specialty practice devoted to increasing the impact of foundations, endowments, and nonprofit organizations. We can show you how to maximize the value of your assets through long-term, sustainable growth strategies. Learn more.

Disability planning

Planning for the unexpected is an important part of your overall estate strategy. Done with care, disability planning can help minimize family conflict and protect your family should you become incapacitated. Discuss your options with a Truist Wealth advisor.

Insurance and estate planning for your business

If you own a business, you should arrange in advance for the transfer of your business or partnership interest at your retirement, incapacity, or death.

Connect with our corporate trust and escrow services or review your strategies with a Truist Wealth advisor.

Why have a trust planning strategy?

Trusts are a great way to help minimize taxes. But most trust strategies do more than save taxes—they ensure that estate assets will be managed carefully for the beneficiaries’ financial security.

We can walk you through any number of strategies to accomplish your goals, including:

  • Qualified Terminable Interest Property (QTIP) trusts
  • Grantor Retained Annuity Trust (GRAT)
  • Credit shelter trusts
  • Life insurance
  • Lifetime gifts to family and friends
  • Gift tax annual exclusion
  • Exclusion for medical and tuition payments

Get the conversation started with a Truist Wealth advisor.

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