Planning area

Multi-generational planning

Families often make decisions one household at a time, even when money moves between generations. Planning for parents, children and grandchildren together can surface options that do not show up when each return is looked at on its own.

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What we look at

Differences in tax brackets across generations
Shifting income to family members in lower brackets, within kiddie tax rules
Paying a grandchild’s tuition or medical costs directly
Employing family members in a family business
Inherited retirement accounts and the 10-year distribution rule
Transferring a family business to the next generation

Keeping the family with your firm

Multi-generational plans help your firm stay with a family as wealth passes down. The plan carries your name, so the next generation knows your firm as the one that planned for them.

Questions

Common questions.

Do all family members need to be clients of our firm?

No. The plan can include households your firm does not serve directly, using the information the family chooses to share.

How is privacy handled between households?

The plan only includes information the family has agreed to share, and your firm decides who receives which parts.

Related planning areas.

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See a certified plan built for one of your families.

Tell us about your firm and we’ll follow up within 2 business days to schedule a walkthrough.

Request a demo