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Lifetime Income Series: The Ultimate Gift

Special Guest: Kim Fichera on Year-End Tax Strategies

This week Jim and John discuss a different aspect of estate planning. This program is about giving, and not just the tangible, but the intangible as well. How does one pass on their values, their guidelines for living, and not just their wealth? There is now a document used in estate planning to handle this. It is called an Ethical Will, and it actually dates back to the 13th century, when fathers passed on ethical teachings and guidance to their sons. The Ethical Will is an informal, unenforceable document. It can actually be an audio tape, a video, photographs or written letters. It focuses on the intangibles, lessons learned over a lifetime, and desires for the family’s future. The Ethical Will can act as an informal family manifesto to the heirs regarding a sense of duty, stewardship and tradition in preserving the vital components of a family legacy. The guest this week is Kim Fichera, CPA. Kim will discuss tax planning; what can taxpayers do, and what they should they be thinking about, before the end of 2014.

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