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WealthTec®
Technology Solutions for Financial & Estate Planning
WealthTec Suite Developments
New Tools and Enhancements to Existing Products

This page highlights the 2010 evolution of WealthTec® Suite.
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New WealthTec Suite Setup

WealthTec Suite has recently been reconfigured by dispensing of the old, legacy product labels seen on the old toolbar. The new suite categorizes the planning tools according to the type of clients best served by particular tools and/or the planning area or approach. This should aid you in navigating the suite. In addition, numerous tools have been slated for retirement after 2010, and those are now found under the Retired After 2010 toolbar button. Please click here for more details.
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WealthTec Suite Tools

  • Pinnacle Enhancements. Please click here for highlights of current-year developments.
     

  • Cash Flow & Estate Planner Enhancements. Please click here for highlights of current-year developments.
     

  • EstatePro Adds Detailed Gross Estate Report. A new report shows the net worth includible in the gross estate of the first decedent spouse in an asset-by-asset detailed listing.
     

  • EstatePro Changes IRD Apportionment in the First Decedent's Estate. EstatePro now handles IRD flowing through the estate residue and to the surviving spouse outright via residuary bequests. Income taxes associated with such bequests reduce the amount passing to the cash management fund from the estate of the first decedent spouse.
     

  • Synergy Lets You Control Availability for Deficit-Funding Purposes. You can delay or turn off the availability of any portfolio for cash flow deficit-funding purposes, as part of a trend or MCS analysis.
     

  • EstatePro & GRAT Planner Add Target Remainder Option. EstatePro and the GRAT Planner offer a new alternative for computing the GRAT annuity that lets you set a target actuarial remainder interest (and corresponding taxable gift).
     

  • EstatePro Incorporates New Medicare Taxes on Earned & Unearned Income. EstatePro incorporates the additional 0.9% Medicare tax on earned income, as well as the 3.8% surtax on unearned income, effective starting in 2013. Details are found in the online help and user manual under System Conventions/EstatePro: Social Security & Medicare taxes.
     

  • Focused Planners Incorporate Medicare Surtax. Effective starting in 2013, the new Medicare surtax on unearned income is computed on a user-defined percentage of taxable investment income and realized gains. The new tax is now reflected in all of the planners included in the reconfigured WealthTec Suite setup's IRA Planning and Tactical Planning groups.
     

  • EstatePro/DesignPro & EzEP/Vs Add Deferred Capital Gains Taxes to Wealth Transfer Summary. Postmortem capital gains taxes associated with lifetime gifts are included in the Wealth Transfer Summary report when you turn those calculations on.
     

  • Synergy & FinancePro Incorporate New Medicare Taxes on Earned Income. These planners incorporate the additional 0.9% Medicare tax on earned income starting in 2013.
     

  • Synergy's FICA Treatment Automatic for Certain Income Types. "Salary" and "Bonus" are now automatically subject to FICA taxes. In contrast, "Pension," "Social Security" and "Trust" are now automatically exempt from FICA tax. The FICA Status input fields are now also grayed out appropriately.
     

  • 2010 Plan Contributions in Were Previously Inflation-Adjusted. Thomson Reuters, makers of zCalc™, recently updated its algorithms so that 2010 qualified plan and IRA contributions are now fixed values rather than being derived from inflation-adjusted calculations (as they are for 2011 and beyond). This change affects Synergy, FinancePro and EstatePro.
     

  • Deferred Compensation Income Taxability in Synergy Now User-Defined. The portion of deferred compensation income that is subject to tax is now controlled by a user-defined variable. Previously, Synergy taxed this type of income in full.
     

  • Unrealized Gains in CRTs Now Reduced by Gains Triggered on Certain Trust Payouts. Capital gains triggered on CRT payouts in excess of ordinary income, qualified dividends, planned capital gains and tax-exempt income in the aggregate were not reducing unrealized gains in the trust. This fix affects the CRUT Planner, CRUT WRT Planner, CRAT Planner, CRAT WRT Planner, DeferredComp CRT Planner, FlipCRUT Planner and RP CRT Planner.
     

  • Roth IRA Conversion Planner Distributions Consumed Has New Option. In the IRA DISTRIBUTIONS CONSUMED section you can now select "RMDs," in which case the consumption amounts in each scenario equal the after-tax required minimum distributions in the Baseline Scenario (over the period you define). These are distributions that are not reinvested in the taxable account.
     

  • Assumptions Page Reference to Transfer Tax Laws In Effect Fixed. In numerous modules the Tax laws to apply - estate, gift & GST selection was not properly reflected on the Assumptions schedule. This has been fixed. Calculations were unaffected, and have always reflected the input selection made (i.e., this fix was essentially cosmetic).
     

  • Roth IRA Conversion Planner Death Before RBD with Nonspouse Beneficiary Fixed. Prior to the fix, if the IRA owner died before reaching his/her required beginning date for RMDs and the beneficiary selection was "Nonspouse" the tool would blow up.

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