Planning Types

We secure wealth over the long term by leveraging every possible resource available to our clients. From premium financing to business succession, estate, and executive benefit planning, and beyond, we have proven experience and expertise in the financial, legal, and accounting topics that impact wealth protection today.

Estate Planning

BASIC ESTATE PLAN STRUCTURE

  • Execute standard estate planning documents which include Wills, Power of Attorney, Health Care Proxy and possibly Trust.
    • Determine appropriate executor/trustees/fiduciaries.
    • Ensure utilization of estate tax exemptions such as creating Credit/Marital Trusts.
    • Determine dispositive provisions for heirs.
  • Consider Irrevocable Life Insurance Trusts (ILITs) to own insurance outside of your estate and include dynasty trust provisions to create wealth you can pass down to your children and future generations.

ESTABLISHING VEHICLES FOR NEW ASSET ACQUISITION

Consider the use of Beneficiary Controlled Trusts (BCTs) and Family Limited Partnerships (FLPs) to remove new ventures from your taxable estate while maintaining control of the asset.

REMOVING HIGHLY APPRECIABLE ASSETS FROM YOUR ESTATE

  • Leverage your lifetime exemptions to get assets out of your estate (note: in certain circumstances, appropriate discounts may be applied on transferred assets; please consult with your tax and legal advisor for further information)
  • Explore the use of various estate freeze techniques including:
    • Defective Grantor Trusts
    • Rolling Grantor Retained Annuity Trusts (GRATs)
    • Qualified Personal Residence Trusts (QPRTs)
  • Consider annual gifting to shift assets and use the available discounts to shift those assets in lieu of direct cash gifts

ESTABLISHING VEHICLES FOR PHILANTHROPIC OBJECTIVES

Consider your charitable intentions and how you intend to fulfill these intentions. The following vehicles are often used to accomplish philanthropic objectives:

  • Family Foundation
  • Charitable Remainder Trust
  • Charitable Lead Trust

PLAN MONITORING

Tax laws change frequently, providing advantages or disadvantages to your current estate plan. Consult with your advisors on a regular basis to ensure your estate plan remains effective and tax efficient and is still in line with your legacy goals.

Premium Finance

Premium Financing is a financial planning tool that Tritium utilizes to assist qualified insured individuals in overcoming the challenges in funding large life policies. Our model alleviates that burden by activating a third party lender to finance the purchase.

WHY DO YOU NEED PREMIUM FINANCING?

The value of life insurance for estate liquidity, protection planning, business coverage, or as an alternative asset class is naturally weighed against the capital or cash flow required to support the associated premium payments. High net worth individuals will often forgo the purchase or acquisition of needed insurance because of age and underwriting requirements that make premiums cost prohibitive or to preserve cash flow and capital for other important projects or investments.

Why Should You Finance Life Insurance Premiums?

LEVERAGE

Most self-made millionaires are comfortable leveraging their assets and have used that strategy to create wealth. Premium finance permits clients to leverage their current assets and the policy’s cash surrender value to obtain the coverage they need.

TAX SAVINGS

Clients can significantly reduce gift and estate taxes by paying interest instead of premiums and structuring ownership of life insurance products properly. Premium financing can also help clients use more of their annual gifting exclusions, rather than tapping prematurely into lifetime exemptions.

RETAINED CAPITAL

Many high net worth clients earn double-digit returns on their investments, be it in their business, real estate, or other investments. Premium finance allows those clients to keep their money working for them in those high return asset classes.

INCREASED IRR

Utilizing premium finance reduces client outlay in the early years thereby increasing long term Internal Rate of Return (IRR).

Business Succession

Premium Financing is a financial planning tool that Tritium utilizes to assist qualified insured individuals in overcoming the challenges in funding large life policies. Our model alleviates that burden by activating a third party lender to finance the purchase.

WHAT ARE THE BENEFITS OF A SOUND SUCCESSION PLAN?

  • Ensure a proper valuation of business interests, reducing the possibility of conflict between successors
  • Drastically reduce the cost and time required for settlement of the deceased’s estate
  • If properly funded, provide cash flow for operations when the business needs it the most — potentially preventing the forced liquidation or sale to third parties
  • Eliminate conflicts between active and inactive children
  • Ensure ownership remains within your bloodline
  • Peace of mind

WHAT ARE THE BENEFITS OF A SOUND SUCCESSION PLAN?

Business owners seeking a smooth and equitable transition of their interests should seek a competent, experienced team to assist them in this matter. If your objective is to continue the business after death and not have it liquidated or sold to a third party, several options and considerations are possible.

Transition to Family or
Family Sub-groups

Active vs. Inactive Ownership

Conflicting Interests

Estate Equalization

Criteria (Age, Education, Time in Business)

Transition to Employees

Retain key employees to protect institutional knowledge

Maintain an equitable balance between employee ownership and value passed on to heirs

Management Buy Out

A qualified team of hand-picked people can continue operations and handle the proper administration of the succession plan.