An estate plan is arguably one of the most critical aspects of your overall financial strategy. An estate plan is not just about creating a will and trust – it’s about ensuring that your financial legacy lives on to care for family members, contribute to charities, and make a difference after you’re gone.
June 22, 2022
Tax & Estate Planning
One of the most important services financial advisors provide is estate planning. If your advisor is helping you with investments, real estate, and tax planning, they likely have the best picture of your financial life to help you plan for your estate.
If you’ve worked hard to build up significant wealth for you and your family, the last thing you want to do is start giving pieces of the pie away to third parties. Tax planners, financial advisors, legal experts, and other professionals in the financial sector all want to be a part of your portfolio management. While it may be tempting to do it yourself (or at least as much as you can), there are many reasons why having a financial advisor is in your best interest.
Tax season is just around the corner, which has many of our clients talking to us about smart moves they can make to improve their tax filing for next year. One of the primary topics we typically cover is withholding, which often comes as a surprise. While your financial strategy shouldn’t focus solely on tax advantages, ensuring you’re not withholding too little or too much guarantees you can make the most of your income throughout the year.
Financial planning is a pressing demand that most of us feel throughout our lives. However, ensuring you’re meeting the proper milestones for your age can be tricky, especially if you don’t have someone to guide you along the way. So, at what age should you start planning for your financial future?
While it’s important never to cut corners and risk an audit, there are plenty of ways to reduce your tax rate that the IRS encourages legally. Deductions and tax laws are made to enable citizens to save, so take advantage of every opportunity you can, starting with these strategies.
We can’t control the future, but we can make sure that we’re prepared for it. While the implications of preparing your will aren’t what you want in the front of your mind, having this documentation is arguably one of the most important things you can do for both...