When it comes to estate planning, gifting assets creatively to younger generations can not only reduce estate taxes but also foster financial literacy and responsibility.

When it comes to estate planning, gifting assets creatively to younger generations can not only reduce estate taxes but also foster financial literacy and responsibility. One effective approach is setting up a family trust that distributes funds based on milestones like college graduation or starting a business, encouraging personal growth while preserving wealth. Gifting shares in a family-owned business can instill a sense of ownership and entrepreneurial spirit. Additionally, funding a Roth IRA for a working teenager or contributing to a 529 college savings plan can offer long-term tax advantages while supporting education and retirement. These thoughtful strategies go beyond traditional inheritances, turning wealth transfer into a meaningful legacy.

If you have questions about generational transfers of wealth for estate planning purposes — or any other estate planning questions — give us a call at 253.858.5434 to set up an appointment today. We represent clients throughout Washington and Idaho and are available to meet in person, by phone, or via video conference.