Professional Documents
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Kyle D. Young, CFP Vice President Investment Officer Accredited Domestic Partnership Advisorsm Wells Fargo Advisors
Wells Fargos vision is to satisfy all our customers financial needs and help them work toward succeeding financially.
Spouse v. Non-Spouse
Uncovering a Need
So what?
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Gift Taxes
Annual Exclusion of $13,000 Lifetime Exclusion and Gift Tax Rate
2012 Exclusion Max Rate 2013
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Tax Filing
Federal Income Tax Filing
Must be filed separately due to the Defense of Marriage Act (DOMA)
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Imputed Income
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Many company Pension Plans are NOT eligible for rollover to non-spouse beneficiary upon the passing of the employee partner!! Default death benefit payout options utilize ERISA guidelines and are NOT advantageous to nonspouse beneficiaries
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Insurance Protection
Proper titling of policies
- Owner
- Insured
- Beneficiary
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Social Security
Social Security is a Federally mandated program which does not recognize non-spouse partners
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Program created in collaboration with the College for Financial Planning in 2009
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- Federal Taxation
- Retirement Planning
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2012 Wells Fargo Bank, N.A. All rights reserved. For public use.
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