Your Money, Your Plan!
When you take control of your finances, rather than letting them control you, you can live life more fully. Regardless of your age or life stage, you can make financial decisions that move you toward your goals.
Estate Planning
Estate planning is an organized approach to the inevitable. Responsible persons generally need a will, health care proxy and a durable power of attorney to protect their assets and to provide for family members after their death. A financial review often promotes discussions revolving around the absence of a current estate plan. While a big part of estate planning is maximizing what you leave behind by minimizing taxes and probate, thoughtful planning can also promote family harmony and further one's legacy. Discussions about financial planning, objectives, solutions and recommendations often lead to better perspective, where the involvement of an attorney or tax advisor in the preparation of the estate plan becomes the desired course.
Inherited assets should also be anticipated in an estate plan. These may be investments with a stepped up cost basis, a spousal IRA, or an IRA inherited from a parent. We can assist in the claiming, management and meeting special IRS distribution requirements.
Estate planning is another key element of financial planning that we try to keep simple for our clients. Many times if the bulk of the estate is contained in investment accounts, then named beneficiaries on these accounts can keep it simple and avoid probate for a major portion of the estate.
