Estate Strategy: Gifting

• The Estate Strategypage is used to:
  • define the distribution of the estate as either a dollar or percentage value.
  • define bequests of specific assets on the client’s or co-client’s death.
  • define the details of any testamentary trusts applicable for a scenario.
• Bequests and testamentary trusts cannot be entered in Simple Will type scenarios.
• Use the Gifting subtab to gifts the clients have made over their lifetime.
  

1. Select one of the following buttons based on the type of strategy you want to add:

   Select one of the following:
   Add Regular Cash Gift	Add Lump Sum Cash Gift	Add Asset Gift

continued steps for Add Regular Cash Gift...

2. Enter basic information for the Regular Cash Gift.
   • Enter a name for the gift in the Description field.
   • Enter the giver and the receiver for the gift in the Gifted By and Gifted To menus.
   • Enter a Start Date and an End Date for the gift.
3. If applicable, select Split Gift to split the tax consequences of the gift between the client and co-client.
   Note: This option is selected by default for community property and joint assets.
4. To define the value for the gift, do one of the following:
   • Enter the Annual Amount for the gift.
   • Select Max. Annual Gift Exclusion to gift the maximum annual exclusion amount that is allowed gift-tax free by law.
     Note: The maximum annual exclusion amount does not apply to charitable beneficiaries.
5. If applicable, use the Infl and +/- Add'l fields to model the effects of inflation and/or any other applicable indexation for the gift.

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continued steps for Add Lump Sum Cash Gift...

2. Enter basic information for the Lump Sum Cash Gift.
   • Enter a name for the gift in the Description field.
   • Enter the giver and the receiver for the gift in the Gifted By and Gifted To menus.
   • Enter the Gift Date.
3. If applicable, select Split Gift to split the tax consequences of the gift between the client and co-client.
   Note: This option is selected by default for community property and joint assets.
4. To define the value for the gift, do one of the following:
   • Enter the Annual Amount for the gift.
   • Select Max. Annual Gift Exclusion to gift the maximum annual exclusion amount that is allowed gift-tax free by law.
     Note: The maximum annual exclusion amount does not apply to charitable beneficiaries.
5. If applicable, use the Infl and +/- Add'l fields to model the effects of inflation and/or any other applicable indexation for the gift.

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continued steps for Add Asset Gift...

2. Enter basic information for the Asset Gift.
   • Select the Source Asset for the gift.
     Note: Qualified assets are excluded from this list.
   • Select the recipient of the gift from the Gifted To menu.
   • Define the Start Date, End Date and Frequency for the gift.
3. If applicable, select Split Gift to split the tax consequences of the gift between the client and co-client.
   Note: This option is selected by default for community property and joint assets.
4. To define the value for the gift, do one of the following:
   • Enter the Annual Amount for the gift.
   • Select Max. Annual Gift Exclusion to gift the maximum annual exclusion amount that is allowed gift-tax free by law.
     Note: The maximum annual exclusion amount does not apply to charitable beneficiaries.
5. If applicable, use the Infl and +/- Add'l fields to model the effects of inflation and/or any other applicable indexation for the gift.

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