At NuVista Wealth, we believe every detail matters when it comes to protecting your wealth and your family’s future. During a routine Wealth Preservation Review, we recently uncovered an issue that could have cost one of our clients’ children dearly.
Our client, a widow, had moved all her assets from her late husband's irrevocable trust into her own trust years ago. It seemed like a thoughtful step to ensure her children would benefit from receiving a step-up in basis upon her passing. However, upon closer examination, we found that her home—a property that had appreciated substantially since her husband’s passing 18 years ago—was still titled incorrectly.
Had this gone unnoticed, her children may have faced a hefty tax bill due to capital gains upon her passing. By identifying and correcting the error, we helped ensure her family to avoid this financial burden, preserving her legacy and their inheritance.
This is just one example of how our process can preserve your wealth and ensures it aligns with your goals.
Do you know someone who might benefit from our proactive approach? Help them secure their future—just as we did for this family.
Give someone the gift of reassurance. Share our link so they can book a free 30-minute consultation to explore their financial future.
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This material is being provided for information and illustrative purposes only and is not a complete description, nor is it a recommendation. Individual cases will vary. Keep in mind that there is no assurance that any strategy will ultimately be successful or profitable nor protect against a loss. Investing involves risk, and you may incur a profit or loss regardless of strategy selected. While we are familiar with the tax provisions of the issues presented herein, as Financial Advisors of RJFS, we are not qualified to render advice on tax or legal matters. You should discuss tax or legal matters with the appropriate professional Prior to making any investment decision, you should consult with your financial advisor about your individual situation.
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