Year-End Estate Planning Crunch - We Can Help!

by Greg Bowman, CEO

by Greg Bowman, CEO

The race to the end of the year is on. We are sure many of your wealthiest clients are contemplating, or in the process of, updating their estate plans before year-end in response to the announced and anticipated changes to the Federal Estate Tax and Income Tax laws, as well as some state’s income tax changes.

Their plans will likely include trusts for effective tax and distribution planning, and every trust needs a trustee. While family members are often considered viable trustees, their conflicts of interest and lack of experience often suggest a better option. Due to the tax strategies often being a driver for trusts this year, the need for a professional trustee has increased. After all, most individuals don’t want to keep up on the “alphabet soup” of acronyms for these sophisticated estate plans (CRT’s, GRAT’s, SLAT’s, IDGT’s, ILIT’s, QRPT’s, etc).

Our goal is to make you, as the financial advisor, look good with your clients by helping you guide them through the 2021 estate planning efforts. We do this by being: responsive; flexible to customize unique solutions for your clients; knowledgeable on the benefits of the plan; and ultimately helping them select a best-in-class trustee while allowing you to continue to manage the investment assets.

Northwest Trustee is an independent Washington State Chartered trust company, providing concierge services not available through most other corporate trustees. This includes:

  • Pioneering the independent trust model in the Northwest over 30 years ago;
  • Accepting trusts with complex assets such as fishing fleets, timberlands, highly concentrated asset positions, and closely held businesses;
  • Operating in a state with no income tax on trusts;
  • Benefitting from access to a directed trust statute;
  • Working daily to serve beneficiaries with additional needs such as a special needs or supplemental needs trust;
  • Providing estate administration and acting as a financial power of attorney

Additional, helpful resources:

Our goal is to provide compassionate responsiveness to our clients. We would be delighted to hear from you to discuss any trust opportunities you may have.

To learn more about how we can enhance your client relationships, call Krista Fitzpatrick, New Client Service Manager, at (509) 466-3024 or by email at kfitzpatrick@nwtrustee.com

Published Date:  September 2021