With historically high exemptions from federal estate and gift taxes, many families are turning to funding personal trusts to protect and preserve their family endowments for future generations. Unfortunately, beneficiaries receiving significant inheritances may not be sufficiently prepared to inherit family wealth. A personal trust can help families who want their heirs to receive more than financial benefits from their wealth. In this podcast, Jeff Wolken, national director of Delaware trust planning for Wilmington Trust’s Emerald Family Office & Advisory,® offers his insights on how to prepare your family through the use of a beneficiary well-being trust, a new trust feature in the state of Delaware.  

With historically high exemptions from federal estate and gift taxes, many families are turning to funding personal trusts to protect and preserve their family endowments for future generations. Unfortunately, beneficiaries receiving significant inheritances may not be sufficiently prepared to inherit family wealth. A personal trust can help families who want their heirs to receive more than financial benefits from their wealth. In this podcast, Jeff Wolken, national director of Delaware trust planning for Wilmington Trust’s Emerald Family Office & Advisory,® offers his insights on how to prepare your family through the use of a beneficiary well-being trust, a new trust feature in the state of Delaware.  

There are several strategies to consider when looking to save on income taxes. One strategy involves lessening your amount of gross income, which comprises five methods, or pillars: deferral, exclusion, elimination, offsetting, and character of income. In this podcast, Tom Kelley, national director of income tax planning for Wilmington Trust’s Emerald Family Office & Advisory,® offers his insights on how each of these pillars can help mitigate your tax burden. 

The start of a new year is the perfect opportunity to reflect and reassess. And, for many, it’s also about making resolutions for personal improvement. But don’t forget about your financial health. Ensuring your wealth plan is in order is one of the most impactful ways to set yourself up for financial success and peace of mind this year. Alvina Lo, chief wealth strategist for Wilmington  Emerald Family Office & Advisory®, offers her insights.

Are you thinking about creating a wealth plan for a commercial property? Real estate that is owned for business or investment purposes have certain inherent traits that create a somewhat unique planning scenario and, in some cases, jeopardize the success of your wealth plan. However, a freeze partnership could help.

The stage is set for this year’s presidential election. Regardless of who wins the election, reviewing the scheduled expiration of certain tax code provisions enacted as part of the 2017 Tax Cuts and Jobs Act will likely be an initial priority. What might this mean for the estate, gift, and generation-skipping transfer tax exemption; the qualified business income deduction; and individual income tax rates? In this podcast, Josh Landsman, senior wealth strategist for Wilmington Trust’s Emerald Family Office & Advisory®, offers his insights.

Estate planning can be complex, and many people want to do everything they can to ensure both their assets and their heirs are successful. One of the best ways to achieve this goal is to engage your entire family in the process. But when is the right time to bring the conversation up? Who should be involved? What should be shared? Listen as Alexa Broida, family legacy advisor for Wilmington Trust’s Emerald Family Office & Advisory® shares four ways to engage your family in estate planning.

As many successful families have learned over time, having a family wealth education plan in place for family members can be very empowering for the next generation. And when heirs feel empowered and engaged in the family’s legacy, a smooth transfer of wealth can result. Listen as Allison Pierce, wealth strategist for Wilmington Trust Emerald Family Office & Advisory®, discusses how giving family members a foundational knowledge about wealth and sharing the family’s core values can help prepare heirs to receive wealth and carry on the family legacy.

Long-term financial planning considerations, family legacy concerns, income and estate tax ramifications, transaction structuring, community and workforce impact, legal documentation, along with the reality—and finality—of “letting go” typically make a business transition one of the most difficult things a business owner will ever do. Listen as Stuart Smith III, national director of Business Value Strategies for Wilmington Trust’s Emerald Family Office & Advisory®, discusses how a business owner may successfully navigate the final stages of a business transition.

It often requires an intentional effort from parents to uncover and take advantage of moments during a child’s upbringing to incorporate financial discussions and lessons. Listen as Jerry Inglet, senior family legacy advisor for Wilmington Trust’s Emerald Family Office & Advisory®, discusses how to leverage the preparation and decisions connected to choosing and paying for college for two purposes: helping to create an informed college pathway; and serving as a  financial education opportunity to discuss family values connected to money and resources.