As estate planning lawyers, we know that our clients’ goals are always to preserve their assets in such a way that it benefits them after retirement while also providing for their loved ones when they’re no longer here. To accomplish that, there are three dynamics that must be addressed in order to have a more complete long term estate plan solution. Those three points include tax planning, financial planning and legal planning. Our team works closely with experts in the financial and tax sectors in order to provide a complete service to our clients.
Just as financial planners and tax professionals understand their respective fields, we know how to put into place solid estate planning based on any client’s needs. We encourage our clients to keep their collective team in the loop so that first, they’re better able to accomplish their goals, but also because without a uniform approach, it could leave them vulnerable. Communication is everything when it comes to solid planning for the future. For instance, if you and your spouse divorce, if you forget to change your beneficiary on, say, your retirement plan, your former spouse may lay claim to your account after you’re gone. Changing your will is not enough; it must be reflected on the retirement documents themselves, which are found in your Human Resources’ department.
Laws change, especially when it comes to taxes. They can greatly impact your estate planning efforts, so again, keeping everyone in the loop means you’re left with no vulnerabilities. It’s a powerful peace of mind, too.
Life shifts. Our children grow up and start their own families, we retire and ideally can enjoy the freedom that comes with retirement and we may lose those we love. Your estate planning efforts are moot if they’ve not been maintained over the years. Speaking with your estate planning lawyer means you don’t have worry about whether or not there are any weaknesses in your plan. The same applies to the other professionals you rely on.
It can feel overwhelming. If you’re unsure of where to turn to find financial and/or tax advisors, we’re happy to review your overall estate plan and explore with you options you may not be aware exists.
Your long term planning efforts are too important to be a passing thought. Whether you’ve engaged the services of a financial advisor already and are now looking for an estate planning team, or if you’ve been advised by a tax advisor to consider additional guidance, it really is about creating a formidable team with the sole purpose of protecting your assets and making the most of your years of hard work.
The added assurances you receive from three separate entities lets you know you’re on the right path for long term success and a far easier retirement.
Give us a call today to discuss your options or to learn more about our alliances. Our team of experienced estate planning lawyers stand ready to assist you as move forward.