Bank of America reveals disruptive pitfalls in wealth transfer

Thoughtful estate planning means preparing both your assets and your heirs.
 
In The Street, Day Pitney Trusts and Estates Partner Tasha Dickinson emphasizes the importance of communicating the reasoning behind unequal inheritances, noting that heirs who do not understand those decisions are more likely to challenge estate documents in court. She also cautions that while lifetime gifting can offer tax advantages, transferring too much wealth too early in pursuit of tax savings can lock families into irreversible decisions.
 
Read the full piece here.