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Estate Planning

At 65RETIRE Wealth Managers, we believe maintaining wealth from generation to generation is the true art of wealth management. No retirement is complete without an estate plan and we have a team of specialists targeted to help you create a strategy.

The main goal of estate planning is to transfer your wealth and assets to your family or favorite charity in the most tax-efficient manner possible. When first determining your estate planning needs, consider this: If you were to die today, who would be impacted? How? What can you do now to limit any financial problems caused by a premature death?

Wills, trusts, and medical documents may all play a role in how your estate is handled. However, estate and gift taxes must be paid promptly and have forced many families to sell property and assets quickly.

Life insurance is a different way to create an estate. Affluent families often say, “I don’t need life insurance.” While this may be true, life insurance can serve as a tax-efficient wealth transfer vehicle.

Term life insurance is like renting. Premiums are low initially, but rise significantly over time. There is no cash value and less than 1% of term policies ever pay a death claim. Permanent life insurance, on the other hand, is like owning. Permanent life insurance comes in many flavors—whole life, universal life, variable life and indexed life. While premiums are higher, they build cash value that grows tax-deferred and can be withdrawn or borrowed out tax-free.

It’s critical to understand the importance of tax diversification. Roth IRAs and permanent life insurance may be able to help tax-diversify your retirement.