FAQ Estate Planning
Understanding Your Estate Tax Exposure
If you are not certain where your total estate stands today, that is the right place to start. Bradley can walk you through a complete picture of your assets and help you understand exactly where you stand relative to current exemption thresholds and where you may be headed.
Many people have never run this number, and it can be a meaningful one. Come in and Bradley will work through it with you so you understand the exposure and what options are available to address it before it becomes your family's problem to solve.
An estate that looks manageable today can cross significant thresholds as investments grow and assets appreciate over time. Bradley works with clients in Fresno and Clovis to model exactly this kind of forward-looking picture so planning can happen ahead of the problem.
This is a question that often goes unasked until it is too late to plan around it. If you hold property or assets in multiple states, Bradley can help identify whether additional exposure exists and connect you with the right professionals to address it.
Legislative risk is real and worth building into any estate plan. Bradley can help you understand what flexibility looks like in practice and what steps are worth taking now while the current rules are in your favor.
FAQ Estate Planning
Investment and Retirement Account Planning
Many people are surprised to learn that retirement accounts receive no special estate tax treatment. Bradley can help you understand the combined impact of estate and income taxes on your retirement accounts and whether there are strategies worth exploring now.
An outdated beneficiary designation can redirect assets in ways that conflict entirely with your current intentions, and a will cannot override it. Come in and we will review what you have on file, then help you assign every designation consistently with where you want your assets to go.
How you hold, transfer, and time the sale of appreciated assets has consequences across both your lifetime and your estate. Bradley can help you think through how your investment portfolio and your estate plan work together rather than against each other.
The answer depends on your specific income picture, your projected estate size, and your tax situation. Come in and Bradley can model what a Roth conversion strategy might look like for your circumstances and whether the timing makes sense.
Concentrated positions are one of the more complex planning challenges at significant wealth levels. Bradley can help you understand the options available for addressing concentration in a way that accounts for both the tax implications and your long-term estate planning goals.
FAQ Estate Planning
Irrevocable Trusts
This is one of the most consequential decisions in estate planning and it deserves a thorough conversation before any action is taken. Bradley works closely with estate planning attorneys and can help you understand the financial picture clearly before you sit down with legal counsel.
If your life insurance death benefit is currently sitting inside your taxable estate, it may be consuming the very coverage meant to benefit your heirs. Bradley can review your current coverage structure and help you understand whether an Irrevocable Life Insurance Trust is worth exploring.
These are sophisticated planning tools that produce meaningful results for the right situations. We can help you understand whether either structure fits your financial picture and coordinate with your estate planning attorney to evaluate whether the timing makes sense.
Multigenerational wealth transfer requires planning well in advance. Come in and we can walk you through how the generation-skipping exemption works alongside your estate tax exemption and what a multigenerational strategy might look like for your family.
The estate tax benefit is real, but so is the loss of control. That tradeoff deserves careful consideration before any transfer is made, and it starts with understanding your ongoing liquidity needs and what role each asset plays in your financial plan. Schedule a conversation and we can work through it together.
FAQ Estate Planning
Life Insurance
If you own the policy, the death benefit counts toward your taxable estate and is subject to the 40% rate. Bring your current coverage in and we can assess whether the ownership structure is working in your favor or creating an exposure worth addressing.
Federal estate taxes are generally due nine months after the date of death, regardless of prevailing market conditions. Legacy Finance can help you evaluate whether your current coverage provides the liquidity your heirs would need to settle that obligation without being forced into a sale.
Many people set up life insurance early in their careers for income replacement and never revisit the ownership structure as their estate grows. Who owns the policy at the time of death determines whether the death benefit is included in your taxable estate. Come in and we can review your current policies and check if the structure is working in your favor.
Coverage that made sense at an earlier stage of life may no longer reflect the scale of your estate or the tax liability that has grown alongside it. The right amount of coverage looks very different when estate planning is the primary goal rather than income replacement. Come in and we can review your combined picture together.
At significant wealth levels the purpose of life insurance shifts. What made sense early in your career may no longer reflect what your estate actually needs. Come in and we can help you think through whether your current coverage is still serving the right goal.
FAQ Estate Planning
Governance, Control, and Family Planning
This is a conversation many families put off longer than they should, and it is one of the more important ones to have before it becomes necessary. Understanding where your heirs stand and how to prepare them is something we work through with clients in Fresno and Clovis as part of a complete estate planning picture.
Ambiguity in estate documents tends to surface as conflict during settlement, often at a time when family members are least equipped to manage it. Clear documentation of your intentions, the role each heir plays, and how disputes are resolved is one of the most valuable things a well-prepared estate plan can provide. Let's help yours.
An estate plan that addresses death but not incapacity leaves a significant gap. The period during which someone is alive but unable to manage their affairs can be as complex as settlement itself. We can review what you currently have in place and verify the right people are named and the documents reflect your current wishes.
Real property and sentimental assets are among the most common sources of estate disputes. Addressing how they will be valued, who has the right to purchase them, and what happens if heirs disagree is far easier to work through now than after the estate is open. That is a conversation worth having while the decisions are still yours to make.
A will goes through probate, which is a public court process that can take months and becomes part of the public record. A revocable living trust transfers assets outside of probate, which means the process is faster, more private, and far less administratively burdensome for your heirs. For larger estates with assets in multiple states, the difference is significant. Let's talk through which structure makes sense for your situation.
FAQ Estate Planning
Gifting and Wealth Transfer
In 2026, you can give up to $19,000 per recipient each year without reducing your lifetime gift and estate tax exemption and a married couple can generally give up to $38,000 per recipient. A systematic gifting program executed over many years can transfer meaningful wealth to your family. Schedule a conversation and we can model what that looks like for your situation.
Gifting assets now removes both the asset and its future growth from your taxable estate. Whether that timing makes sense depends on your liquidity needs, your goals, and your family picture. This is one of the more consequential planning decisions available to you right now while the exemption is at $15 million. Let's talk through whether it belongs in your plan.
Charitable giving and estate planning work well together when structured thoughtfully. Vehicles like donor-advised funds, charitable remainder trusts, and private foundations can support the causes that matter to you while also addressing estate tax exposure. Legacy Finance can help you understand which structure aligns with both your giving intentions and your estate planning goals.
Superfunding allows you to contribute up to five years of annual gift exclusions into a 529 account in a single transaction, potentially removing a meaningful sum from your taxable estate. It is one of the more straightforward gifting strategies available and one that is easy to overlook. Worth adding to the conversation when you come in.
Which assets you gift and which you hold can make a substantial difference in the total tax paid across both generations. The cost basis rules differ significantly depending on whether an asset is transferred during your lifetime or passed through your estate, and getting that decision right requires looking at the full picture. That is exactly the kind of detail we work through with clients in Fresno and Clovis.
Working with the Right Team
These questions do not have one-size-fits-all answers. The common thread is that planning needs to happen before the taxable event, not after. Estate taxes are due nine months from the date of death, and that deadline falls on heirs who are already managing grief, family dynamics, and the administrative complexity of settling a large estate.
