Estate Guidance

Trust & Estate Services

elderly man consults with wife and daughter

The Situation:

Victor has $7.5 million, including $1.5 million in an IRA Rollover and $1.9 million in company stock and stock options.

The Solution:

After a friend’s passing, Victor began thinking about the impact of income and estate taxes on his retirement assets at the time of his death. Victor talked with his PNC Wealth Management Fiduciary Advisor, who suggested creating a qualified charitable trust, funded at death with a portion of his IRA assets not payable to his wife or to other trusts. The donated wealth would be replaced with life insurance owned by an Irrevocable Life Insurance Trust.

Because Victor’s portfolio is concentrated in employer stock, the Fiduciary Advisor also recommended an equity collar, in which he would receive downside protection in return for giving up some upside potential in the value of that stock. PNC Bank granted a loan, secured by the collared stock that enabled Victor to build a more diversified portfolio and a more solid foundation for his family’s financial future.

Estate planning is only performed in conjunction with a client’s attorney, accountant, and/or other business advisors.

About Trust & Estate Services

Serving as a fudiciary for you and your family, PNC Wealth Management® is known for administering complex estates, multi-generational trusts and providing asset management services.

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Important Legal Disclosures & Information

This story represents a hypothetical scenario and is intended for illustrative purposes; the person described is fictional and not an actual client, but the scenario is intended to reflect a typical and/or previously experienced situation. Actual client experiences and outcomes may vary and future performance or success is not guaranteed.

The material presented herein is of a general nature and does not constitute the provision by PNC of investment, legal, tax, or accounting advice to any person, or a recommendation to buy or sell any security or adopt any investment strategy. Opinions expressed herein are subject to change without notice. The information was obtained from sources deemed reliable. Such information is not guaranteed as to its accuracy. You should seek the advice of an investment professional to tailor a financial plan to your particular needs. For more information, please contact PNC at 844-749-2854.

The PNC Financial Services Group, Inc. (“PNC”) uses the marketing name PNC Wealth Management® to provide investment consulting and wealth management, fiduciary services, FDIC-insured banking products and services, and lending of funds to individual clients through PNC Bank, National Association (“PNC Bank”), which is a Member FDIC, and to provide specific fiduciary and agency services through PNC Delaware Trust Company or PNC Ohio Trust Company. PNC does not provide legal, tax, or accounting advice unless, with respect to tax advice, PNC Bank has entered into a written tax services agreement. PNC Bank is not registered as a municipal advisor under the Dodd-Frank Wall Street Reform and Consumer Protection Act.

“PNC Wealth Management,” is a registered mark of The PNC Financial Services Group, Inc.

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