Wealth Transfer, Estate Planning and Planned Giving in the Wake of the American Taxpayer Relief Act of 2012

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It would appear that trust companies experienced a windfall last quarter in anticipation of the fiscal cliff, as concerned higher-income taxpayers looked for tax havens.

The big question now is, how will demand for wealth transfer, estate planning and planned giving options change in 2013 in the wake of the American Taxpayer Relief Act of 2012?

Harry Sullivan, President of HWA International tells me that “We expect to see greater activity in this area.”

With high demand for trust servicing the burden on RIAs, family offices and other wealth managers is how to offer these services to wealthy clients while retaining control of the assets.

Some rely on in-house staff / systems while others have chosen to outsource trust administration services.

“We have some interest in outsourcing but believe the vast majority still prefer an in-house solution,” Harry explains.  As a full service trust software provider, HWA offers an opportunity for either option. 

ByAllAccounts, in conjunction with HWA International, is conducting a national survey to better understand sentiment about the recent Fiscal Cliff legislation, demand for wealth transfer services, and reporting challenges.

Take the Trust Survey

Take this quick ByAllAccounts National Survey, conducted in conjunction with HWA International, to see how you stack up with other advisors and trust companies. Topics include:

•                    Recent changes to wealth transfer, estate planning, and planned giving legislation

•                    Anticipated changes in trust activity in 2013

•                    Latest trends in reporting methods and strategies

Take the survey and receive a copy of the findings.

Resources for more information

•                    The Trust Advisor/Reports 2013 America’s Most Advisor-Friendly Trust Companies (free report)

•                    Halfway Over the Cliff – Taxes Resolved but Debt Ceiling and Spending Cuts Loom (free paper)

Harry Sullivan is President of HWA International, Inc. HWA International has been one of the leading trust accounting providers since 1977. Its two main products—TrustNet and TRUSTprocessor are designed for bank trust departments, trust companies, family offices, investment advisors, college/university foundations, religious foundations, IRA organizations, special needs trusts, law and CPA firms. 

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