Many people’s wealth preservation goals and dispositive intent are not coming to fruition as they had wanted (uncertainty), nor are they getting the plans in the manner that they want (lack of preferability), nor are they able to change the plans as/when they want (inflexibility).

They want certainty, meaning reliability (it will be done right), efficacy (it will work), predictability (no surprises), and durability (it will stay right).

Need: People want preferability, such as they want to obviate the need for tax implications to dictate first.

• Would prefer to leave all to spouse BUT FOR tax issues
• Would NOT leave all to spouse BUT FOR tax issues
• Would NOT want children to have to wait until second death to enjoy their inheritance BUT FOR tax issues
• Would NOT want to make gifts BUT FOR tax issues
• Would want the children to receive some distributions right away, and not to have to wait until the estate is settled, or until the CRT/CLAT can begin making distributions BUT FOR tax issues
• Would want to gift to grandchildren only BUT FOR tax issues
• Would want payout in trust vs. outright BUT FOR tax issues

Additionally, they may want more control and would agree to take action only if it wouldn’t alter their control or income. They want the ability to do the planning at their own pace, for example, to wait vs. take action now; or to the extent they want, for example, “at least it won’t jeopardize the children’s tax benefits”; or address a specific asset only, such as a business. They would be willing to take calculated risks, but only if these were expertly quantified and they were adequately rewarded.

People want all this, plus flexibility, meaning elasticity, adaptability, alterability, replaceability, revocability, and reusability; to provide maximum options, such as:

• Bequest or pay tax at first death/second death
• Bequest to grandchildren vs. children
• Leave asset to beneficiary vs. replace asset for beneficiary
• Annuitization vs. lump-sum payout
• Self-insure vs. transfer risk, and to increase or decrease their insurance based solutions over time
• Gift tax play vs. estate tax play
• In tandem with their spouse’s estate plan or as a stand-alone plan
• Having their children’s wealth preservation plans coordinated with theirs or not

They also want portability and unlimited accessibility.