Trusts & Estates, WealthManagement.com Publishes Guest Article from McManus on Coordination of Income Tax and Estate Planning

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Combine Income Tax Preparation and Estate Planning

Coordination is key

Apr 1, 2015 John McManus Trusts & Estates

When tackling a jigsaw puzzle, you’ve likely taken the “divide and conquer” approach, separating the larger puzzle into more manageable sections. Eventually, you bring the different areas of focus together to put the finishing touches on the full image.

Wealth management is the same. Estate planning emphasizes an array of complex matters spanning death taxes, asset protection, incapacity, guardianship and family missions. Compartmentalizing can be helpful, but advisors must remember to bring the pieces of the puzzle back together in the end. It’s critical that strategies to maximize the value of your clients’ estates are coordinated with their retirement, financial and income tax planning.

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