Depending on the asset, beneficiary designations provide an initial source of liquidity for named beneficiaries until an estate is settled and fully distributed. 
 

Establishing wealth goals and preparing a personal balance sheet are the first steps in developing a comprehensive goals-based wealth management plan. 

A Grantor Retained Annuity Trust (GRAT) is a compelling tax-efficient strategy individuals and families can use to transfer wealth to their beneficiaries.