A few weeks ago we talked about asset transfer in our monthly webinar
. We discussed clients who have “excess capital” that they will not require for their care and maintenance during their lifetime. These clients generally have one thing in mind with these assets – pass them to the next generation. Unfortunately, the type of assets they usually target as likely to pass to the kids are typically very inefficient for this purpose (accumulation focused products/accounts with little to no cost basis and no step up at death) and we introduced any number of methods for repositioning those assets into more efficient asset classes.