Discover many of the opportunities available to help you plan for your financial future.
At Roberts Wealth Management, we can help you determine a strategy appropriate for your financial situation.
Home » Financial Services » Tax and Estate Planning
Tax and Estate Planning
Recent tax law changes could be costing you plenty!
With careful preparation, you may be able to manage the impact of taxes on your estate plans and other financial efforts.
Here’s a sampling of the areas to discuss with your accountant and financial representatives to help you take advantage of the new rules while you still have time in this tax year:
  • Not all dividends are taxed at the new lower rates. Do you know which assets qualify for the new rule?
  • How do the new lower capital gains rates affect you?
  • Will you have phantom income that you need to offset by adjusting your investment portfolio now?
  • Is there a way to lower your Social Security taxation?
  • Is your IRA or qualified plan being penalized and you aren’t even aware of it?
  • Why have America’s wealthiest investors removed their children’s names as beneficiaries on their annuity contracts?
We can also provide advice to help you:
  • Reduce your capital gains taxes and estate taxes
  • Stop unwanted required minimum distributions (RMDs) while increasing the value of your qualified plan and passing it on to your beneficiaries in both an income tax and estate tax efficient manner
  • Remove dollars out of your business while reducing your business income tax
  • Determine the most tax- and cost-effective way to pass a business on to family members and/or the management teams, where the founder receives fair market value for their stock and family members or the management team receive funding needed to make this business purchase.
These questions should be discussed now, as waiting until next year means potentially paying too much tax this year.
Roberts Wealth Management will work with you and your CPA/tax accountant or recommend a qualified tax specialist. We will help you develop plans that are appropriate for your family … because you and your family deserve better.
Our simple no-obligation 3-Step Review is an effective way of learning more about tax planning that can benefit you and your heirs.
Estate Planning
Why an Estate Planning Checkup Is Essential
As a general statement, many individuals who earn a good living and/or have amassed wealth, do not have the proper estate or asset protection plan.
The following are statistics about the general public*:
  • One in two will NOT have a simple will
  • Five in six will NOT have durable powers of attorney
  • Five in six will NOT have marital living trusts
  • Nine in 10 will NOT have a family limited partnership
  • Seven in eight will NOT have an irrevocable life insurance trust
* Provided by the Wealth Preservation Institute
Estate planning allows you to make your personal intentions known so your loved ones don’t have to be burdened with making difficult decisions in critical situations.
Estate planning will also enable you to save as much as possible on taxes, court costs and attorneys’ fees, while guaranteeing that your property will go to the people you want, in the way you want and when you want. Most importantly, estate planning provides you with peace of mind that your loved ones can celebrate your life without being saddled with unnecessary financial confusion.
A little planning could go a long way to prevent the government from depleting your estate or your beneficiaries from disagreeing over how your estate is distributed.
Business owners too often have business assets tied up in the probate process and survivor management may not have access to needed cash to keep the business running or the ability to pledge assets for cash flow loans.
Wills and trusts may only address specific issues and need to be reviewed and updated as your desires and situation change or as laws change that may impact your future plans.
All estate plans should include consideration of the following:
  • A durable power of attorney: this will help manage your property, accounts and estate while you are living should you be unable to do so yourself
  • Medical directives: designed to outline a person’s wishes and preferences in regard to medical treatments and interventions
  • A will: manages the distribution of your estate after your death
  • Trusts: will help to avoid probate and manage your estate both while living and after death. Also, trusts create privacy that enables your estate to not become public knowledge.
  • The proper insurance: How much? What type? How should it be titled?
  • Stretch Provisions: For your IRA, these can be multigenerational.
  • Tax planning: to reduce estate and gift taxes, as well as fees associated with an estate transition
Roberts Wealth Management’s experienced team will help preserve the assets you have worked hard over the years to build and create the legacy you’ve earned … because you and your family deserve better.
We will work with you and your existing attorney or recommend a qualified estate planning attorney or tax specialist that is experienced in these matters. We are able to review any wills and trusts you already have in place. Then we will work with you to develop an individualized estate plan and help you implement it.
Our simple no-obligation 3-Step Review is an effective way of learning more about tax planning that can benefit you and your heirs.
Tax-Deferred Growth
Millions of Americans are putting their money in all forms of IRAs, annuities and employer-sponsored retirement plans, both qualified and non-qualified.
The tax deferral that these plans and accounts offer is hard to beat in many cases, and the Roth IRA and Roth 401(k) plans that are now available can be particularly effective in sheltering after-tax income. However, there are times when the tax from retirement-plan distributions can be greater than the tax that was realized from unsheltered investments.
Among the decisions facing investors approaching or already in their retirement years are:
  • What types of investments should be placed inside tax-deferred accounts?
  • Which to use first, tax-deferred or taxable accounts, for spending and wealth transfer?
  • How should the different accounts be allocated?
  • How to integrate tax-deferred accounts into their overall estate plans?
The best answer to each of these questions for any individual retiree depends on an array of factors unique to their situation.
Roth accounts shield your earnings from immediate taxation and the earnings can even be tax-free if certain requirements are satisfied.
An annuity can provide you with a tax-deferred way of saving for your retirement. Once you’ve retired, an annuity can provide a guaranteed stream of income for as long as you live. It’s like getting a paycheck for the rest of your life; and it can help you maximize your income throughout retirement.
Unlike most investments, an increase in the value of an annuity from interest is not currently taxable. Generally, annuity funds are allowed to grow tax-deferred until they’re distributed, at which time the owner will pay ordinary income tax on all gains.
IRA accounts have become one of the largest types of assets inherited by beneficiaries. If you don’t anticipate needing your IRA money in retirement, you may wish to consider a planning strategy to reduce taxes and increase the payout your beneficiaries will receive upon your death.
A Roth IRA is generally funded using after-tax dollars. These after-tax contributions and any earnings growth are exempt from tax upon distribution if the withdrawals are made at least five years after the account is established and after the owner is over age 59½. Original contributions made to the Roth IRA can be removed at any time without penalty. Most other retirement savings plans, such as a traditional IRA, are funded with pre-tax dollars. These accounts grow tax-deferred, and withdrawals are taxed at the taxpayer’s ordinary income tax rates at the time of distribution.
Roberts Wealth Management will help you assess your various alternatives for tax-deferred investments and recommend options to provide smart strategies for future growth … because you and your family deserve better.
Our simple, no-obligation 3-Step Review will help you find out more about what options for tax-deferred growth will be best for you and your family.
Charitable Planning
“Give until it hurts” may no longer apply.
Setting up a charitable giving program is similar to buying life insurance. If you use the wrong advisor, the chances are significant you will be setting up a plan that is in your advisor’s best interest instead of doing what is best for you and the charity you intend to benefit.
Direct gifts are only one way of helping your favorite charities. Many other alternatives are available. Some allow you to maintain control of your assets and still avoid future tax problems that might have occurred without the charitable planning.
Would you like to use a wealth building tool with the following characteristics? If so, Roberts Wealth Management can assist you to:
  • Increase your discretionary or “spendable” income
  • Reduce (or even eliminate)
    • income taxes
    • capital gains taxes
    • estate taxes
  • Provide a tax-free inheritance for your heirs
  • Leave a lasting family and social legacy
If you have significant qualified or non-qualified type assets like IRAs, SEPs, 401(k)s or annuities, as well as capital gains in stocks or business interests, you may be creating significant future tax problems for you and your heirs.
Discovering these problems today gives you the time to plan properly. You may be able to potentially avoid them entirely and significantly enhance the future for yourself, your heirs or your favorite charity.
Our simple, no-obligation 3-Step Review is an effective way of helping you find out more about how charitable planning can benefit you, your heirs, and those in your local community.
Life Insurance Planning
Today’s life insurance policies can be a valuable protective tool with respect to retirement planning, business planning and estate planning.
As the stages of your life change, so will your life insurance needs. Having your existing life insurance policy reviewed is crucial for those in or approaching retirement, as your current life insurance policy may be outdated and/or lacking some valuable living benefits.
There are many types of policies, but they can generally be placed into one of two categories:
  • Term insurance generally provides coverage for a specified period of time and pays out a specified amount of coverage to your beneficiary only if you die within that time period. You pay the same amount of premium from the first day of the policy until the term ends.
  • Permanent insurance, on the other hand, does not need to be renewed. A permanent insurance policy will stay permanently in effect for the rest of your life so long as premiums continue to be paid.
Life insurance products and strategies have evolved to offer:
  • Long-term care protection, such as assisted living and in-home health care expenses
  • Strong potential to grow the cash value of your policy
  • Policies that act as savings accounts, which allow funds to be withdrawn or borrowed while still retaining the insured value
  • An important business planning tool, designed to protect your business in the event of the death or disability of a key person whose loss could potentially cause the business financial hardship
  • Provide tax-deductible life insurance premiums for the corporation
  • Planned donations to your favorite charities or your local church in your name at the time of your death
  • Tax-free source of funds to pay for taxes and debts due on death.
Second-to-die policies allow the executor to handle the estate transition smoothly without having to sell assets at a reduced value due to timing.
Having an insurance policy will not only supplement any income loss that may interfere with your family’s current quality of life, it will also pay for any lingering debts and medical bills that could contribute to the financial burden on your family at the time of your death.
Roberts Wealth Management will review your existing life insurance policies and work with you to develop insurance strategies that meet your family’s objectives … because you and your family deserve better.
Our simple, no-obligation 3-Step Review is an effective way of helping you find out more about your life insurance options. If you bring in your policy and most recent statement, we will be able to provide a thorough review.
Strategies for Financial Independence
To schedule a time to discuss your financial future, contact us at retire@robertswealth.com or call us at 281-277-0645 today!
We are an independent financial services firm helping individuals create retirement strategies using a variety of investment and insurance products to custom suit their needs and objectives.
Request a No-Obligation Consultation
Who We Are / Our Focus
MEET APRIL & PAUL ROBERTS
We help create retirement income strategies for people in or nearing retirement so their retirement income lasts as long as they do.
WHAT WE DO
Our financial strategies use insurance products, such as annuities, to help you meet financial goals.
UPCOMING EVENTS
View our calendar of upcoming events. We invite all clients, referrals and visitors to attend our events.
MEET APRIL & PAUL ROBERTS
We help create retirement income strategies for people in or nearing retirement so their retirement income lasts as long as they do.
WHAT WE DO
Our financial strategies use insurance products, such as annuities, to help you meet financial goals.
UPCOMING EVENTS
View our calendar of upcoming events. We invite all clients, referrals and visitors to attend our events.