Legacy Planning Calculator
Calculate your financial legacy, estimate inheritance values, tax implications, and plan distribution for beneficiaries. Ensure your assets are distributed according to your wishes.
Step 1: Assets & Liabilities
Understanding Net Worth
Net worth = Total Assets – Total Liabilities. This forms the basis of your estate. Consider all assets: property, investments, retirement accounts, insurance policies, and personal property.
Step 2: Distribution & Tax Planning
Tax Planning Considerations
Estate taxes vary by jurisdiction. Proper planning can minimize tax liability through trusts, gifting strategies, and charitable donations. Consult a financial advisor for personalized advice.
Legacy Planning Results
Total Projected Legacy
Beneficiary Distribution
| Beneficiary | Percentage | Amount | Tax Implications |
|---|
Distribution Notes
Spousal transfers typically have favorable tax treatment. Charitable donations may provide tax deductions. Consider establishing trusts for minor beneficiaries or those with special needs.
Tax Analysis
Estate Tax Calculation
Taxable Estate: Total Estate – Exemption Threshold
Tax Due: Taxable Estate × Estate Tax Rate
Example: $650,420 – $12,000,000 = $0 taxable (below threshold)
Strategies to Reduce Estate Tax
Annual Gifting: Gift up to annual exclusion amount tax-free
Charitable Trusts: Reduce estate while supporting causes
Life Insurance Trusts: Keep insurance proceeds out of taxable estate
Family Limited Partnerships: Transfer assets at discounted values
Jurisdiction-Specific Considerations
United States: Federal exemption $12.92M (2023), portability between spouses
United Kingdom: Nil-rate band £325,000, residence nil-rate band £175,000
Canada: No estate tax but deemed disposition on death
Australia: No estate tax at federal level, some state duties
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