Broker Check

Why Estate Planning Is So Important

The Impact of Improper planning

ESTATE VALUE AT DEATHSETTLEMENT COSTS (TAXES, PROBATE)LEFT TO CHARITY & HEIRS
William Boeing$22,386,158*Actual $10,589,748*Actual $11,769,410*
Alwin Ernst (CPA)$12,642,431*Actual $7,124,112*Actual $5,518,319*

*Source: Public Probate Records


What Proper Planning Could Have Done

ESTATE VALUE AT DEATHGIFT TO CHARITYPROBATE & TAXPOTENTIAL TO HEIRS AFTER GIFT TO CHARITY
Bill Boeing$22,386,158$22,386,158$0$22,386,158
Alwin Ernst (CPA)$12,642,431$12,642,431$0$12,642,431

*Hypothetical illustration based on current estate tax law using available structures. Not every person will realize the same tax savings.


William Boeing was an aviation pioneer who took a tiny airplane manufacturer and grew it into the multinational Boeing Corporation that all of us who grew up near the Space Coast know so well. Despite his engineering prowess and business acumen, Mr. Boeing did not complete the prudent steps that would have avoided over $10 million of his assets being transferred to probate, taxes, and other estate settlement fees.

Alwin Ernst is an even more shocking case based on his background. Never heard of him? In 1903, he started a small bookkeeping service in Cleveland Ohio with a $500 investment. Aggressive and ambitious, he became a CPA and expanded to over 50 offices throughout the US and Canada by the time of his death in 1948. Today, Ernst & Young is one of the "Big Four" audit firms and the third largest professional services firm in the world by aggregated revenue as of 2014.

What About You? Whether it’s as simple as providing income for a spouse, educating children and grandchildren, leaving money to your favorite charity, or managing a complex estate like the ones above, Teleios Financial Partners can help ensure the assets you have accumulated over your lifetime are preserved for the use you have intended.

FAQ: How can you give 100% of your estate to charity and 100% to heirs? We would love to show you! This is actually an advanced strategy offered under the GA Repple Generosity Initiative for select clients where this type of structure makes sense.

For more information about our firm and the services we offer, send us a quick email or call the office. We would welcome the opportunity to speak with you.

trocks@teleiosfp.com | 321-213-3000