When we use the term “wealth transfer”, many times, people assume that means estate planning. There are several key differences between these two tactics.
[AUDIO] Wealth Transfer vs. Estate Planning
People of impact are different. Wealth transfer plans are specifically designed with the recipient in mind. Estate plans, many times, are created to respect the wishes of the writer.
Timing of execution is different. Estate plans begin at death. Wealth transfer plans focused on impacting the beneficiary now.
Focus of operation is different: While elements of an estate plan emphasize giving, wealth transfer plans are specifically designed around the idea of stewardship.
If you have questions regarding a wealth transfer plan, give me a call at 320.222.4236 or email me directly at firstname.lastname@example.org.