Ages 60-70

At this stage in life, some of the financial issues you may find yourself dealing with are:

• More serious estate- and wealth-transfer planning
• Understanding the transfer-tax system
• Learning about wealth-transfer techniques
• Active financial planning
• Increasing cash flow—charitable gift planning helps minimize taxes
• Shifting to income-producing assets
• Assisting children with debt through annual gifts
• Assisting grandchildren with education expenses
• Concern with the financial future of the next generations
• Using trusts and wealth-transfer strategies to achieve goals
• Taking advantage of charitable trust issues to optimize family wealth transfers and maximize tax benefits

For the charitably inclined, certain types of gifts can provide solutions to tax issues: Click here to read more.