Hear from Head of Advice and Planning, Michael Liersch, as he talks about transferring wealth when it can make the most difference.
Michael Liersch: Over the years, you’ve transferred your values to your family in the experiences you’ve all shared together.
And there may come a time, soon, when you think of sharing your wealth with your family and your close friends, too.
So, when is the right time to start to transfer your wealth? For who? And for what needs?
Speaker: Michael Liersch, Head of Advice and Planning, Wells Fargo Wealth & Investment Management
Maybe it’s helping with a down payment on a lake house for your son or daughter.
Like the one they all remember going to with you as a family.
Well, with longer lifespans and the uncertain future of inheritance taxes, many people just like you question when is the right time to gift their wealth.
Along with that comes another big question. How much is too much to give to your family? And really, there’s no right answer to that one. A great first step is having a discussion with your Advisor about how much money you need to support the full life you’ve pictured for yourself and for your family.
After that talk, you can explore how much you feel you can transfer through an ongoing gifting strategy. Your advisor can help you set parameters about how much to give. And, how much may be too much. What I’ve seen with clients, is sometimes it’s more than the wealth that’s being transferred.
It’s your values and your memories being transferred, too.
End Card: Wells Fargo Wealth & Investment Management (LOGO)
Wealth & Investment Management offers financial products and services through bank and brokerage affiliates of Wells Fargo & Company. Bank products and services are available through Wells Fargo Bank, N.A., Member FDIC. Brokerage products and services are offered through Wells Fargo Advisors, a trade name used by Wells Fargo Clearing Services, LLC, and Wells Fargo Advisors Financial Network, LLC, Member SIPC, separate registered broker-dealers and non-bank affiliates of Wells Fargo & Company.
Wells Fargo Bank, N.A. offers various advisory and fiduciary products and services including discretionary portfolio management. Wells Fargo affiliates, including Financial Advisors of Wells Fargo Advisors, a separate non-bank affiliate, may be paid an ongoing or one-time referral fee in relation to clients referred to the bank. The bank is responsible for the day-to-day management of the account and for providing investment advice, investment management services and wealth management services to clients. The role of the Financial Advisor with respect to the Bank products and services is limited to referral and relationship management services. Some of The Private Bank experiences may be available to clients of Wells Fargo Advisors without a relationship with Wells Fargo Bank, N.A.
Wells Fargo and Company and its Affiliates do not provide tax or legal advice. This communication cannot be relied upon to avoid tax penalties. Please consult your tax and legal advisors to determine how this information may apply to your own situation. Whether any planned tax result is realized by you depends on the specific facts of your own situation at the time your tax return is filed.
WellsTrade® and Intuitive Investor® accounts are offered through Wells Fargo Clearing Services, LLC.
© 2023 Wells Fargo.