As you create an estate plan, you are sure to be faced with many questions. The way you answer these will impact you now and in the future.
A big part of creating a comprehensive estate plan is a focus on your finances. Not only do you have to consider where things stand right now, but you also need to look at the future.
This is something we discuss in great detail on our website, noting the following:
“The steps you take today are going to guarantee a better tomorrow. No matter your age, current situation, or financial goals, you should contact us to discuss your future.”
As you can see, it is important that you get on the right track today. Don’t wait another day to get involved with financial planning, as this will make things better for you and your family in regards to your estate plan.
Questions to Address
The problem with financial planning is that many people don’t know what they are doing. They understand this is important. They also know that this goes hand in hand with their estate plan. Even with all this in mind, they don’t have a clear understanding of what they should and should not be doing.
To get on the right track, to help avoid issues, you should address the following questions (among any others that may be on your mind):
- What is your current financial situation and how may it change in the years to come?
- What steps can you take today to ensure that you leave something of value behind to your loved ones?
- Have you taken the time to see how your financial plan and estate plan can work together?
- When was the last time you reviewed all your assets to ensure that they align with your estate plan?
- What steps have you taken in regards to retirement planning?
- Have you taken into consideration your tax situation?
As you answer these types of questions, you may find yourself faced with many others. For example, you could soon realize that you are not making all the right choices in regards to your retirement planning. For this reason, you should make the necessary changes in the near future, as this is the only way to get on the right track.
Speak with an Attorney
Since financial planning is a big part of creating an estate plan, you need to speak with an attorney as soon as possible. This is not something you want to take on alone, as it could lead to a situation in which you make an error along the way.
As you speak with a qualified attorney, here are some things that you should discuss in great detail:
- The things you can do today to protect your assets for future generations.
- The best way to pass your estate down to your beneficiaries, all the while avoiding taxes.
- Any changes you can make today for the better.
Although you may not have a clear idea of what you are doing in regards to financial planning and estate planning, you can expect that your attorney will be able to step in and clear the air.
There may be a lot on your mind, but this is no excuse to take a step back. Nothing is going to change on its own. You need to be proactive if you want to get everything in order.
Do you have questions about financial planning? Are you wondering how this fits in with your estate plan? If so, you have come to the right place.
No matter what is on your mind, regardless of your current situation, you can contact us to discuss your position and what you are trying to accomplish. From there, we can answer your questions, provide you with advice, and help you implement a plan you can trust to help you reach your goals.
We have helped thousands of people like you. All you have to do is setup a free consultation. From there, you will begin to feel better about your finances and estate plan.
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- The Questions of Estate Planning, Part 4: Where - December 30, 2019
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