Many clients are oblivious to the estate tax. But as an advisor, you’re perfectly positioned to help your clients avoid passing on a tax bill to their heirs.
In this episode, David Lenok, senior editor at WealthManagement.com, speaks with Scott Steiner of Calamos Wealth Management about what you can do to make your clients aware of the estate tax and avoid sticking their heirs with a bill. They bring this topic to life by exploring the case of the Wrigley family, best known for their chewing-gum dynasty. The Wrigleys were either unaware or did not care about the estate tax consequences of their wealth upon their passing, as they left their son with a $40 million tax bill.
In this episode, you will learn:
- About the two major estate tax blunders that the Wrigley family made
- How to guide clients who have a pending estate tax bill
- Why having mainly illiquid assets can pose estate tax issues
- Examples of illiquid assets that are common in U.S. estates
What strategies the Wrigleys could have used to undo their liquidity issues
Tune in now and learn how to help your clients avoid passing on a tax bill to their loved ones.