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Trust & Wealth Management Solutions

Which solution is right for you?

At Guaranty's Wealth Managment Group we have a team of attorneys and financial professionals available to assist our clients with a wide array of services and solutions. These include Trusts, Estate Settlements, IRAs, Retirement Planning, Estate and Gift Tax Planning, Tax Planning, Business Entities, and document and account reviews. Let us help in deciding what solution is right for you. Learn more about Lifetime Planning Strategies here.
 

 John Moss Library East Texarkana Texas Trusts

A trust is a legal relationship created by an individual or individuals for themselves or others as beneficiaries and normally managed by a third party trustee on behalf of the beneficiaries under the specific terms of a trust agreement or a trust created in a Will.   A trustee is a named or court appointed individual or bank trust department that works with the beneficiaries, maintains accountings, files taxes and manages the assets in the name of the trust.   There are a variety of trusts created and most are designed in specific unique ways to benefit others based on their needs. Generally, the basic trusts are revocable and irrevocable, inter-vivos (created during the grantor’s life) or testamentary (created in a Will), created to benefit individuals or charitable institutions.

Learn more about the variety of trusts available here.
Types of Trusts
How a Trust is Established
Trust Benefits
Example Estate Plan

 

Estate Settlement

Generally, estate settlement is the act of winding up the business affairs of a deceased person under the terms of a Will or, if there is no Will, under the terms of state descent and distribution statutes.   First, a court approves the Will for probate and names the executor to settle the estate or appoints an administrator to settle the estate under the descent and distribution statutes.  Second, assets are gathered and an inventory prepared.  Third the final bills of the decedent are paid.  Fourth, the taxes of the decedent are paid.  Finally, assets are distributed to the heirs as defined in the Will or the descent and distribution statutes.  An executor or administrator can be an individual or a bank trust department.

Learn more about estate settlement here.
 


IRAs

An IRA is used as a retirement plan established by an individual that provides various tax advantages when saving for retirement.  There are various types of IRAs, each created under specific rules and regulations to accomplish certain objectives.  For example: Traditional IRAs, Roth IRAs, Rollover IRAs, Spousal IRAs and Inherited IRAs.   An IRA can be held by a financial institutional in a custodial relationship only or in a fully managed trustee relationship.  There are many investment alternatives for IRAs, not just CDs or annuities.

Learn more about IRAs here.



Retirement Planning


A secure, comfortable retirement is every person’s dream but planning for this takes time and effort.  As the old saying goes, “most people do not plan to fail, they fail to plan.”  At Guaranty's Wealth Management Group we have a team of attorneys and financial professionals available to assist our clients establish an individualized retirement plan in order to make their retirement plans a reality.  This may include document and account reviews, developing budgets and financial goals for lifestyle and travel, and even planning for financial assistance if one becomes disabled.

Learn more about retirement planning here.


Estate & Gift Tax Planning

Estate and gift taxes are voluntary taxes that can easily be avoided with planning.  Few estates and individuals now are subject to estate and gifts taxes due to recent legislation increasing the tax exclusion amount to over $5,000,000.  However, if one is subject to these estate, they are at a high rate and in the long term can substantially reduce assets passing to one’s family members.   Most estate and gift planning now is not tax based but is based on protecting surviving spouses and other family members, along with structuring charitable gifts to properly prepare for one’s community legacy.   We have a team of attorneys and financial professionals available to assist our clients develop an individualized estate and lifetime gifting plans in order to provide for their loved ones in customized and unique ways.  

Learn more about estate & gift tax planning here.


Tax Planning


The goal of income tax planning is to manage assets to minimize taxes.  This can be done by properly structuring asset sales or purchases, taking advantage of available tax credits and tax deductions, managing one’s assets with knowledge of advantageous tax laws, timing receipts and disbursements and even reducing taxable income through retirement planning and creating entity structures for you business ventures.   Guaranty's Wealth Management Group has a team of attorneys and financial professionals available to assist our clients review their income tax issues and make well reasoned recommendations for our clients to consider with their other professionals.  

Learn more about tax planning options here.
New Boston Courthouse  Bowie County New Boston Texas


Business Entities


Our professional team at Guaranty's Wealth Management Group works with business owners and entities in a variety of ways.  We can review the goals and objectives of the owners and business entities and make recommendations about the legal structure of the business, assist is reviewing both qualified and non-qualified employee benefits, assist in the management of corporate assets and funds, and most importantly, work with our clients to develop long term business succession planning before the business owner retires. 

Learn more about business entities here.
 

 
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