Self Attempt 03

Private Wealth Advisory JSON Skill

Use this skill for private-wealth advisory tasks that ask for a structured JSON planning answer using the staged prompt/memo/template plus the advisory API. Return only the JSON object that conforms to input/payloads/answer_template.json.

Operating Procedure

1. Read only the task prompt, request memo, and answer template. Extract the client_id, requested analysis_type, any planning horizon year, and every enum or required field from the template.
2. Query only the advisory API endpoints listed in environment_access.md: /api/clients/<client_id>, /api/source-documents?client_id=..., /api/retirement-accounts?client_id=..., /api/life-insurance?client_id=..., /api/trust-candidates?client_id=..., /api/policies/tax, and /api/rmd-factors.
3. Resolve conflicting facts before calculating. Prefer current signed/profile facts over stale CRM facts; use domain-specific API records for account, policy, and trust terms.
4. Calculate with full precision, then round currency outputs to two decimals. Emit JSON numbers, booleans, arrays, and ISO dates; do not stringify numbers.

Source Resolution

• Profile facts: use SIGNED_PROFILE when present for age, planning year, filing status, marital status, annual non-IRA income, marginal tax rate, beneficiaries, estate value, liquid assets, philanthropic intent, and family-transfer priority. Fall back to ATTORNEY_MEMO, then CRM_NOTE; treat stale marketing/intake material as lowest priority.
• Retirement facts: use CUSTODIAN_EXPORT for traditional IRA balance, Roth balance, expected return, RMD start age, and recommended conversion years.
• Life-insurance facts: use /api/life-insurance for death benefit, premium, contribution date, ownership, and existing-policy-transfer status. If the template requires a controlling_policy_source but does not allow an insurance source enum, report ATTORNEY_MEMO for legal/ILIT policy implementation unless an allowed explicit source is present.
• Trust-candidate facts: use /api/trust-candidates for asset value, growth, GRAT term/rate, and CRAT term/payout. If the template requires controlling_asset_source, use ATTORNEY_MEMO unless an allowed explicit asset source is present.
• Goal source fields usually resolve to SIGNED_PROFILE when signed goals are present; otherwise use the attorney memo before CRM.

Shared Tax Formulas

Use /api/policies/tax for the planning-year annual gift exclusion, estate tax exemption, estate tax rate, conversion bracket target by filing status, maximum CRAT term, and charitable deduction rate.

• taxable_estate = max(0, estate_value - estate_tax_exemption[planning_year]).
• estate_tax_exposure = taxable_estate * estate_tax_rate.
• liquidity_gap_before_planning = max(0, estate_tax_exposure - liquid_assets).
• Unless a task explicitly says otherwise, apply one household exemption/exclusion schedule; do not double just because the client is married.

Roth Conversion and RMD

Inputs: signed profile, custodian retirement account, tax policy, RMD factors, and memo horizon year.

• first_rmd_year = planning_year + max(0, rmd_start_age - age).
• years_until_rmd = max(0, first_rmd_year - planning_year).
• conversion_years = min(recommended_conversion_years, years_until_rmd).
• conversion_years_positive = max(0, conversion_years), but set it to 0 if bracket room is zero.
• bracket_room = max(0, conversion_bracket_targets[filing_status] - annual_non_ira_income).
• annual_conversion_amount = min(traditional_balance / conversion_years_positive, bracket_room); use 0 when conversion_years_positive is zero.
• total_converted = annual_conversion_amount * conversion_years_positive.
• total_conversion_tax = total_converted * marginal_tax_rate.

Projection convention:

• For the baseline, start with current traditional/Roth balances. For each year through the horizon, use attained age age + (year - planning_year). Beginning with first_rmd_year, compute rmd = traditional_balance / rmd_factor[age], subtract it from traditional balance, and add rmd * marginal_tax_rate to RMD tax. Grow remaining traditional and Roth balances annually at expected_return.
• For the conversion case, make the annual conversion at the start of each positive conversion year before RMD/growth. Move the converted amount from traditional to Roth, then run the same RMD and growth loop.
• rmd_tax_savings_through_horizon = baseline_rmd_tax_through_horizon - conversion_rmd_tax_through_horizon.
• Use the conversion-case ending balances for legacy projection. Set heir tax profile by Roth share of total ending retirement assets: MOSTLY_TAX_FREE if Roth share is at least 80%, MIXED_TAXABLE_AND_TAX_FREE if at least 20%, else MOSTLY_TAXABLE.

Recommendation mapping:

• Use LIQUIDITY_CONSTRAINT if liquid assets cannot comfortably cover conversion tax; otherwise RMD_NEAR_TERM when there are two or fewer years until RMD; otherwise TAX_BRACKET_MANAGEMENT.
• Use STAGED_ROTH_CONVERSION/SUITABLE when there are positive conversion years, positive bracket room, no liquidity issue, and RMD tax savings are positive. Use DEFER/BORDERLINE for near-term RMD or liquidity concerns with some benefit. Use NO_CONVERSION or DEFER when bracket room, conversion years, or projected benefit are zero.

ILIT and Crummey Funding

Inputs: signed profile beneficiaries, life-insurance record, estate context, and tax policy.

• annual_exclusion_per_beneficiary = annual_gift_exclusion[planning_year].
• annual_exclusion_capacity = annual_exclusion_per_beneficiary * beneficiary_count.
• premium_gap = max(0, annual_premium - annual_exclusion_capacity).
• notices_required = beneficiary_count.
• contribution_date = planned_contribution_date.
• Date convention when no task-specific rule overrides it: notice_due_date = contribution_date + 5 calendar days; withdrawal_window_end = notice_due_date + 30 calendar days; earliest_premium_payment_date = withdrawal_window_end + 1 calendar day.
• dedicated_bank_account_required = true.
• projected_outside_estate_if_implemented = death_benefit.
• tax_liquidity_support = min(death_benefit, liquidity_gap_before_planning).

Risk and action mapping:

• No existing policy transfer and no premium gap: LOW_IF_FORMALITIES_MET, FUND_WITH_CRUMMEY_NOTICES, SUITABLE_WITH_ADMINISTRATION.
• Premium gap only: EXCLUSION_SHORTFALL, USE_LIFETIME_EXEMPTION_FOR_SHORTFALL, usually BORDERLINE.
• Existing policy transfer only: THREE_YEAR_LOOKBACK, USE_NEW_POLICY_OR_ACCEPT_LOOKBACK, usually BORDERLINE.
• Both issues: THREE_YEAR_LOOKBACK_AND_EXCLUSION_SHORTFALL, DISCLOSE_LOOKBACK_AND_USE_EXEMPTION, usually BORDERLINE or NOT_SUITABLE if the gap/lookback dominates the plan.

GRAT, CRAT, and Trust Comparison

Inputs: signed/attorney goals, trust-candidate record, estate context, and tax policy.

• grat.projected_remainder_to_heirs = max(0, asset_value * ((1 + expected_growth_rate)^grat_term_years - (1 + grat_annuity_rate)^grat_term_years)).
• grat.estimated_estate_tax_reduction = grat.projected_remainder_to_heirs * estate_tax_rate.
• crat.term_years = min(crat_term_years, max_crat_term_years).
• crat.projected_charitable_remainder = asset_value * (1 + expected_growth_rate - crat_payout_rate)^crat.term_years.
• crat.estimated_income_tax_deduction = asset_value * charitable_deduction_rate.
• Use TERM_SURVIVAL_REQUIRED for GRAT mortality inclusion risk.

Recommendation mapping:

• Prefer GRAT when family-transfer priority is stronger than philanthropic intent; rationale CHILDREN_TRANSFER_PRIORITY; alternate role SECONDARY_CHARITABLE_TOOL.
• Prefer CRAT when philanthropic intent is stronger; rationale PHILANTHROPIC_PRIORITY; alternate role SECONDARY_FAMILY_TRANSFER_TOOL.
• CRAT family_transfer_fit is LOW when family transfer is the dominant goal, MODERATE when goals are mixed, and HIGH only when philanthropy clearly dominates and family transfer is not central.

Estate Liquidity Action Plan

Combine the estate context, ILIT, and trust-transfer calculations.

• Prefer COMBINE_ILIT_AND_GRAT with sequencing ILIT_FIRST_THEN_GRAT when the client has low ILIT implementation risk and the trust comparison favors GRAT.
• Prefer CRAT_WITH_LIQUIDITY_REVIEW with sequencing TRUST_DECISION_FIRST when philanthropy dominates and the CRAT is the preferred trust strategy.
• Use ILIT_WITH_EXEMPTION_REVIEW with sequencing ILIT_FIRST_THEN_ATTORNEY_REVIEW when ILIT funding has an exclusion shortfall, an existing-policy transfer/lookback issue, or both.
• Build action_set from the actual recommendations, then sort alphabetically. Common actions are ILIT_CRUMMEY_NOTICE_CYCLE, GRAT_FOR_APPRECIATING_SHARES, CRAT_FOR_CHARITABLE_REMAINDER, LIFETIME_EXEMPTION_ALLOCATION, and ATTORNEY_DRAFT_REVIEW.

Output Checks

• Include every required top-level key and nested field in the answer template.
• Use exactly the enum spellings from the template.
• Sort only fields the template says to sort, especially action_set.
• Return the final JSON object only, with no explanatory prose.