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Wealth Management

Financial Planning

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.

Estate Planning

It's crucial to create a properly structured estate plan that addresses your family's needs. Here are some suggestions:

  • Create/update your will - Your will is the primary document used to transfer your wealth after death. Deciding now how you wish your legacy to be passed on to heirs will avoid problems later.
  • Review your estate plan - Review and reassess your estate plan whenever you change marital status, make a career change or change your address.
  • Select an executor - Choosing a reliable executor or personal representative to settle your estate gives you and your family security and peace of mind.
  • Consider Trusts & Gift Strategies - If you have a sizable estate to manage, you may save on taxes through establishing trusts and gifting.

Trusts

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:

  • Revocable Living Trust - This legal document resembles a will and includes directions for managing your property while you are living and distributing your assets after death.
  • Testamentary Trust - This tool can provide sound financial management for your heirs. It's established by your will and becomes effective after your death.
  • Credit Shelter Trust - Designed to minimize taxes by applying the federal estate tax exemption to both spouses. The sheltered amount is the maximum amount allowed by law.

Gift Strategies

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.

Other Options

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:

  • There are often no capital gains taxes on assets transferred to a CRT
  • The donor has the potential to generate substantial income
  • Creates possible income tax deductions for the donor

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.

Foundations

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.

Financial Planning

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.

Retirement Planning

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:

  • Consolidate your retirement plans - Consider rolling all tax-deferred retirement plans and accounts into one rollover IRA.
  • Increase your saving - Up your savings rate to 20% or more.
  • Catch up on your IRA - Once over 50, you qualify to make "catch-up" contributions to your retirement plan.
  • Re-allocate some assets - Consider gradually shifting your asset allocation to less risky products and accounts.
  • Protect your assets - Consider protecting your future retirement income with an annuity.
  • Plan for the inevitable - Insurance can help replace pension or Social Security income should you outlive your spouse.

A personal Client Advisor will help you with issues like:

  • Cash flow management
  • Investment portfolio analysis
  • Risk management
  • Compensation and benefit analysis
  • Stock option planning
  • Retirement planning
  • Tax planning
  • Personal estate and family wealth transfer
  • Business advisory services
  • Legacy management
  • Education planning

For more information, please contact a Client Advisor at (800) 830-0362.

Disclosures:

Investment instruments utilized by Old National Wealth Management are not FDIC insured, are not deposits or other obligations of Old National Trust Company, its parent company or affiliates, and involve investment risk including the possible loss of principal invested.

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