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Ideal Futures Wealth Transfer Process

Getting started can be the hardest part. You already have values, a vision, and goals; we’ll help you formalize and prioritize them. The next step is to inventory your assets and review any existing estate plan documents. Minimizing potential risks associated with your wealth transfer is a top focus, including taxes, probate, and liquidity. Our goal is to guide you and your family through this process, leveraging our wisdom and experience. Here are the five key stages of our proprietary process, designed to help you understand, develop, and implement your wealth transfer plan.  

Determine What's Important

What are your values, priorities, and goals? Perhaps you would like to fund higher education for your family’s next generation, or maybe you hope to make a charitable bequest to a cause you deeply care about. Research demonstrates that what gets documented and measured gets done. That is why documenting your goals is so important.

We start by helping you reflect on what’s important to you. We then guide you in formulating a vision for your ideal future, both during your lifetime and as part of your legacy.

  • Summarize your family’s most important values
  • Clarify, organize and prioritize your goals
  • Prepare Ideal Futures Vision Statement

Assess Default Estate Plan

Once you have identified your priorities and goals, the next step is to take inventory of your current plan. We prepare a summary of your assets, including current titling and beneficiary designations. We then review your existing estate documents (such as wills, trusts, powers of attorney, etc.). Our goal is help you understand the current plan in place.

  • Preparing and auditing net worth statements
  • Reviewing existing estate documents
  • Summarizing your current estate plan

Design Ideal Futures Wealth Transfer Plan

After developing an understanding of your current plan, we identify potential risks related to the transfer of your wealth, such as liquidity, access to principal, plan flexibility, probate, taxes, and incapacity. We then highlight and illustrate strategies and structures to minimize those risks. Our goal is to help you understand the tools and techniques available to foster the smooth transfer of your wealth, and assist you in deciding what makes sense for you.

  • Preparing Ideal Futures Wealth Transfer GAP Analysis
  • Modeling new wealth transfer strategies and structures

Implement & Coordinate Plan

Upon determining which areas of your estate plan need attention and in which order, we work with you to ensure these strategies and structures are implemented. We help coordinate unique asset transfer and protection strategies and are able to act as your legal concierge by facilitating the drafting of amendments and/or new estate planning documents with outside legal counsel. We are also available to provide efficient coordination of estate and trust administration matters at the time of death, including post-mortem family meetings and communication.

  • Leverage Savant affiliated services
  • Provide legal and tax concierge
  • Source outside services and products
  • Complete Ideal Futures and Trust Administration Guide for Families

Review Progress & Determine Next Steps

The final step, reviewing progress, is ongoing. It can take time to ensure your estate plan meets your vision, priorities, and goals. We monitor your plan’s progress and determine when action is needed. After ensuring initial implementation, we continue to evaluate your plan in light of changes in circumstances, such as a business sale, death of a spouse, remarriage, or tax law. We recommend a return to the earlier steps of assessing your current plan and identifying new strategies and structures, when necessary.

Throughout the Ideal Futures Wealth Transfer ProcessSM, Savant’s advisors are here to serve as your personal CFO. We’ll guide you through all aspects of your family wealth transfer plan, including coordinating any legal needs with outside counsel, and addressing your tax planning and preparation needs. We’ll research and help you secure life insurance and banking products with outside partners. And, we can serve as corporate trustee or provide support to family members in this role. You’ll gain confidence and peace of mind knowing we’ll lead your team of Savant advisors, outside professionals, and providers of financial products and services in creating a plan focused on what's important to you.