Wealth Transfer

What Is Wealth Transfer Consulting?

Wealth Transfer is the transfer of wealth or assets to beneficiaries upon the death of the owner through financial planning strategies that often include wills, estate planning, life insurance, or trusts in a tax efficient manner.

What Are The Benefits To Wealth Transfer Planning?

Proper wealth transfer consulting helps ensure the financial wellbeing for you and your family both currently and in the future. We help you plan wealth transfer to meet your wishes and help avoid unnecessary taxes and expenses in the future.

Houghton Financial Partners is dedicated to working with you and your family to find and provide the best solutions to your estate transfer needs. We take into consideration your financial goals, walk you through the process of planning and develop the most beneficial outcome.

Our team of professionals is willing to work with any parties involved in your estate to develop and implement a plan. Speak with a member of our team to get started today!

What is an Irrevocable Life Insurance Trust?

An irrevocable life insurance trust (ILIT) is created to own and control a term or permanent life insurance policy or policies while the insured is alive.

An ILIT can own both individual and second to die life insurance policies. Second to die policies insure two lives and pay a death benefit only upon the second death.
An ILIT has several parties: the grantor, trustees, and beneficiaries. The grantor typically creates and funds the ILIT. Gifts or transfers made to the ILIT are permanent, and the grantor is giving up control to the trustee. The trustee manages the ILIT, and the beneficiaries receive distributions.

What is a Will?

A Will is a legal document that specifies where your property will be allocated when you die. It names the people you want to settle your estate and any trusts you have. This also includes naming who would take care of any children you have.

Executing a Will allows you to have some control of what happens to your property upon death. Typically, they allow for your wealth transfer to happen easier and with less expenses. A Will can also allow you to transfer property if it is properly executed.

If you are considering using wealth transfer planning services, contact us today to learn more.*

Gifts

Gifts are money or property that you give to an individual or charity. Gifting can reduce the size of your estate and reduce estate taxes. There are many factors that go into gifting, such as tax-free, outright gifting, gifts through trusts, qualified transfers, and more.

Houghton Financial Partners is dedicated to helping you sort through and find the right solution for your wealth transfer planning services.

If you are considering using wealth transfer planning services, contact us today to learn more.

Charitable Donations

Charitable planning allows for you to connect directly with a cause that aligns with you or your family. There are options to set up your own charity or donate to your community. Our team of professionals will guide you through every step.

If you are considering using wealth transfer planning services, contact us today to learn more.

*We strongly advise all our clients to consult with qualified legal and tax professionals to obtain accurate advice with obtaining a will.

Aligning Plans for Growth

Driven by in-depth knowledge of financial products, a commitment to quality service, and robust systems, Houghton Financial Partners has a distinctive ability to create retirement and financial solutions for plan sponsors and participants alike.

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