It pays to have a sound financial plan.
From retirement preparation to charitable giving strategies, planning is essential to your long-term financial success. Your Client Advisor will work with you to identify and meet your planning needs.
It's crucial to create a properly structured estate plan that addresses your family's needs. Here are some suggestions:
A trust helps ensure the successful transfer of your estate to your heirs and beneficiaries. At Old National Wealth Management, we can assist you and your attorney in creating a trust to meet a wide range of goals. Some trust options to consider:
When developing your estate-planning strategies, consider a charitable contribution to the charity or charities of your choice. Charitable giving not only strengthens communities and impacts lives, it can provide significant tax advantages.
The easiest way to give is through a simple bequest specified in your will. Remember: charitable contributions will reduce your estate tax liability.
Charitable Remainder Trust (CRT)
A CRT is an irrevocable, tax-exempt trust that offers flexibility, an income stream for life or a term up to 20 years and significant tax benefits.
A CRT can be funded with a wide assortment of assets, including bonds, mutual funds, stocks and real estate.
Benefits of a CRT:
Charitable Lead Trust (CLT)
A CLT is basically the inverse of a CRT. A CLT allows you to specify a set number of years during which a guaranteed amount or a fixed percentage of the value of the assets placed in the CLT will be paid to a charity. Depending on how the CLT is structured, it can result in income, gift or estate tax savings. However, your heirs ultimately receive trust assets free of estate taxes.
Establishing a foundation allows for systematic giving to an area of special importance to the founder. Foundations can fund college scholarships, research grants and other charitable interests.
Whether you are searching for personal financial planning, financial planning for your business or a combination of both, Old National Wealth Management can help. Our financial planning services offer you a full range of consulting services, in-depth analysis and support to help you thoroughly assess your current finances.
Preparing for retirement requires a sound plan. Whether you are decades away or retiring next year, it's never too early or too late to start planning. Here's how:
A personal Client Advisor will help you with issues like: