WLG On Our Mind

Wednesday, May 22, 2024

Passing Down Your Stocks: Strategies for a Smooth Inheritance | San Diego Inheritance Lawyer

Incorporating stocks and other investments into your estate plan requires careful consideration to ensure your hard-earned assets are transferred smoothly to your loved ones. There are several ways to pass down your stocks, each with its own advantages and potential tax implications.

Methods for Stock Transfer

One common method is to include specific stocks or investment accounts in your will or trust. This allows you to name your beneficiaries and how you want those shares distributed. However, keeping your will or trust updated as your holdings and the value or specific holdings within your portfolio change over time is crucial.

Retirement accounts like IRAs and 401(k)s, as well as some brokerage accounts, offer the option of directly naming beneficiaries. These beneficiary designations mean that the stocks bypass probate and go straight to your intended recipients upon your passing. Similarly, some brokerage accounts offer Transfer on Death (TOD) designations for easy asset transfer outside of probate. Unfortunately, using these types of automatic transfer tools prevent you from putting restrictions and controls on the gifts you are making preventing you from protecting the assets and your beneficiary. 

Gifting stocks during your lifetime is another option that might have either a positive or negative tax effect, but it's important to be aware of both gift and income tax rules. Attorney Weissler and his San Diego office legal staff can advise you on the best approach for your individual situation.

Choosing the Right Strategy

When choosing the right strategy, consider factors such as the potential tax implications for your beneficiaries, their level of financial experience, and the complexity of your estate. It's also important to regularly review your plans, especially as your investment portfolio changes.

The Value of Professional Guidance

An experienced San Diego inheritance lawyer can provide personalized guidance based on your assets, your beneficiaries, and your specific goals. They'll help you choose the right methods for passing down your stocks while simplifying the process for your loved ones and maximizing the value of your legacy.

Getting Help 

If you’d like assistance with planning for the passing down of your stocks as well as your overall estate, we are here to offer guidance and clarity. Simply contact our law firm at 619-281-1888 to schedule a consultation.


Archived Posts

2024
June
May
April
March
February
2023
2021
2020
2019
2018
2016
2015
2014


The Attorneys of the Weissler Law Group assist clients in San Diego, California as well as in: Coronado, Pacific Beach, Del Mar, Solana Beach, La Jolla, Del Cerro, La Mesa, Lemon Grove, Santee, El Cajon, Rancho Bernardo, Poway, Escondido, National City, Spring Valley, and Chula Vista.



© 2024 Weissler Law Group | Disclaimer & Privacy
1011 Camino Del Rio South, Suite 420, San Diego, CA 92108
| Phone: 619-281-1888 | 760-487-8180

Protection from Lawsuits and Claims (Asset Protection) | Maintaining Control of Your Assets (Basic Estate Planning) | Protection from Aging and Disability | Advanced Estate Planning (Planning for the Generations) | Special Needs Planning | Pet Trusts | Probate & Estate Administration | Business Law | Business Succession Planning | Tax Reduction Planning (Keeping More - Paying Less) | Client Login | Resources

FacebookLinked-In Personal

-
-