Cliff O'Conner

Estate Planning Gifting Strategies

Estate planning is an essential process in safeguarding your financial legacy. Gifting strategies are a crucial component of estate planning, as they offer many benefits for you, and your beneficiaries. In this post, you’ll explore the various estate planning gifting strategies that can help maximize the impact you’re able to have on the people and […]

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Donor-Advised Funds pros and cons from Wealth Advisor
Donor-Advised Funds Pros and Cons

Explore the pros and cons of donor-advised funds for effective charitable giving strategies. Consult with C.W. O’Conner Wealth Advisors to make informed decisions. Read now!

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Multigenerational family smiling, portrait, representing a family limited partnership
Family Limited Partnerships Pros and Cons

A family limited partnership (FLP) can be a great estate planning tool for families looking to transfer wealth, minimize their estate tax liability, and ensure asset protection. However, like with other estate planning tools, FLPs have their advantages and disadvantages, and it’s important that you understand them before deciding whether or not one is right […]

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Happy African American couple. Man shaking hand of unseen man in a business setting. Representing setting up a Qualified Charitable Distribution (QCD)
Qualified Charitable Distribution: Donate to Charity and Avoid RMD Taxes with a QCD

Qualified charitable distributions (QCDs) are a popular way for individuals with an individual retirement account (IRA) to support charitable organizations while also limiting their overall tax liability. However, like any financial giving tool, QCDs come with their own set of pros and cons and their viability depends on your unique circumstances.  In this article, you’ll […]

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Man holds Irrevocable Life Insurance Trust ILIT policy.
Irrevocable Life Insurance Trust (ILIT) Benefits and Drawbacks

Irrevocable life insurance trusts (ILITs) can be a critical component of an estate plan. They’re a tool that can help you avoid having to pay estate taxes, and ensure more is left behind for your loved ones. In this article, you’ll explore the functionality of ILITs. You’ll see how they work, their benefits and drawbacks, […]

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Qualified Personal Residence Trust (QPRT): Pros and Cons

A Qualified Personal Residence Trusts (QPRT) is an estate planning tool that can provide property owners with substantial estate and gift tax savings. However, they can be complicated to set up, and have numerous rules that must be followed. In this article, you’ll be exposed to what QPRTs are, how they work, and whether or […]

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Estate Planning for Blended Families: What is a QTIP Trust?

A Qualified Terminable Interest Property (QTIP) trust is an estate planning tool that enables a grantor (i.e. the trust’s creator) of a blended family to take care of their surviving spouse while retaining full control over the distribution of their assets, even after their surviving spouse passes away. In this article, you’ll be given a […]

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Picture of senior couple and child representing Grandparents creating a trust for their grandchildren
Trusts for Grandchildren: Generation-Skipping Trusts Pros and Cons

The generation skipping-trust (GST) is a powerful estate planning tool that can help protect your wealth for generations to come. That’s because this type of irrevocable trust allows you to pass on assets to your grandchildren and other members of future generations without incurring gift or estate taxes. In this article, you’ll be exposed to […]

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business agent explaining contract to couple, representing Charitable Remainder Trust
Charitable Remainder Trust (CRT) Pros and Cons

When it comes to charitable giving, you’ll want to make the biggest impact possible. But figuring out the best way to do so isn’t always easy. That’s because there’s a variety of charitable giving vehicles that are tailored to different individual needs and goals.  One of those vehicles is a charitable remainder trust (CRT). They […]

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Paper page with Estate Planning printed at the top with eye glasses and a pen.
Financial Estate Planning: Your Guide to Trusts, Gifting Strategies, Charitable Donations, and Taxes

Through the process of estate planning, you’re able to establish, shape, and protect your legacy.  But the strategies that will be most helpful to you will depend on your individual circumstances.  In this article, you’ll be exposed to a variety of estate planning tools that can help maximize the wealth you’re transferring to those next-in-line. […]

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