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Wealth accumulated over a lifetime should be safeguarded and transferred according to your wishes. A well-designed estate plan can help you:
Although some people believe their wealth is too modest to justify an estate plan, the reality is that almost everyone needs a plan. Your estate includes the equity in your home, your everyday and retirement accounts, proceeds from life insurance, any foreign assets, coming inheritances … the list goes on. All of this is potentially vulnerable not only to federal but also to state inheritance and estate taxes. Remember, if you don’t have a plan, the tax collectors have one for you.
City National’s experienced professionals utilize a disciplined 6-step process to evaluate your individual situation, help you define your goals and design an estate plan tailored to your specific wishes. If you already have a plan, we will review it in light of your current needs and any new regulations, then suggest whatever revisions might be indicated. Our recommended revisions to an existing plan may be straightforward or highly sophisticated, depending entirely on your personal situation and what you want to accomplish.
Tax and estate law - and your personal circumstances - are always changing. City National’s professionals can review your plan regularly, offering new strategies as your wishes or financial situation evolve, and making sure you aren’t caught by changes in the law. While we don’t believe in unnecessary complications, we do believe estate planning must be dynamic.
Achieving wealth is not enough - you must also retain it and pass it on strategically. Our professional planners are available to discuss your specific needs.
To learn more about how our planning professionals can help you can help you achieve your financial goals, please contact us at (800) 773-7100, Monday through Thursday 7:00 a.m. - 5:30 p.m. and Friday 7:00 a.m. - 6:00 p.m. (PT).
City National, as a matter of policy, does not give tax, accounting, regulatory or legal advice. The effectiveness of the strategies presented in this document will depend on the unique characteristics of your situation and on a number of complex factors. Rules in the areas of law, tax and accounting are subject to change and open to varying interpretations. The strategies presented in this document were not intended to be used, and cannot be used for the purpose of avoiding any tax penalties that may be imposed. The strategies were not written to support the promotion or marketing to another person any transaction or matter addressed. Before implementation, you should consult with your other advisors on the tax, accounting and legal implications of the proposed strategies based on your particular circumstances.