Jeremy Louder Shares Estate Planning Secrets

(Newswire.net — October 19, 2017) Dallas, Texas — End-of-life planning can be a daunting process. Legal considerations, wills and courts often create confusion and uncertainty. Estate planning is an important part of our lives, and for years only wealthy individuals had access to the techniques needed to preserve wealth for future generations. Jeremy Louder, a financial services consultant with two decades of experience helping individual and corporate clients, knows that these estate planning secrets can benefit anyone who chooses to use them. “Financial assets collected over one’s lifetime are often meant to be passed to spouses and children when one dies,” says Jeremy. “With the right estate planning strategies in place, these assets can be distributed to survivors without unnecessary taxation or loss of value.” To learn more about Jeremy’s work in the financial field, visit here.

One of the primary ways in which wealthy individuals protected their assets was to establish irrevocable living trusts. These legal documents differ from wills in important ways. While a will specifies who will receive what assets upon the death of the will’s creator, the process to distribute those assets is governed by probate courts. Probate courts may take many months, and the fees associated with settlement costs can eat into assets’ values. A living trust, on the other hand, is a legal arrangement where assets are “owned” by the trust and granted to trustees named in the document. In most cases, this legal arrangement shields any assets from probate courts, but also protects the assets owned by the trust from creditors. In turn, this helps surviving family members retain ultimate control over the decedent’s assets, allowing them to continue building wealth. “Living trusts must be carefully prepared to ensure they offer the desired protections,” says Jeremy. “Anyone can set up a trust with the help of a qualified estate planning attorney.”

Taxes are another consideration for estate planning. Traditionally, wealthy families shielded their assets from estate and gift taxes, helping to preserve the financial assets for future generations. This strategy is not tax-dodging; rather, the methods of shielding assets from taxes were simply taking advantage of the federal and state tax codes. Over the years, the Internal Revenue Service has changed the way in which estate taxes work, with fewer loopholes and more regulation. As with living trusts, a qualified estate planning attorney can help individuals develop plans that avoid unnecessary taxes, including capital gains, income, and gift taxes. “Retirement planners and attorneys are an incredibly valuable resource,” adds Jeremy Louder, who has provided financial consulting services for thousands of clients over his two decades in the industry. “Without the help of these estate planning experts, individuals who wish to protect their assets for the future are up against many obstacles.”  For more information on Jeremy Louder, visit this page.