4 – Plan Your Legacy

This may be harder than you think: Who is to receive your estate?
The answer can be compounded by gifts you give while still alive.
Are all your children being treated equally? Should they be?

Be certain that lifetime gifting doesn’t result in you outliving your
resources! Often the cash flow ramifications of your gifting require
the calculations and projections you’ll undertake in Topic 6.


  • Children
    1. Evaluate continuing financial support, if any
      Special need trusts
      Spendthrift trusts
  • Identify non-financial assets which have special meaning or value not easily recognized
  • Testamentary bequests
Lifetime gifting to family
Charitable gifting
  • While living and/or testamentary
  • Tax-efficient methods to affect gifting
  • Income opportunities with Charitable Remainder or Lead Trusts
Project your federal and state estate tax liability
  • Estate tax vs. “income with respect to decedent” tax