Protection & Legacy Planning

Insurance Planning

You work hard to bring home a paycheck, provide food and shelter, and accumulate wealth, so you don’t want to leave these important issues to chance. Whether it is protecting your income, your life, or your home, making sure that you’re adequately insured can save you from financial ruin in the event of an unfortunate accident. Make sure that you’re covering the most important aspects of your life while spending money only on the insurance that you really need.

Insurance is an important element of any sound financial plan. Different kinds of insurance help protect you and your loved ones in different ways against the cost of accidents, illness, disability, and death.

We believe that an insurance program should be a part of every individual’s financial plan. Your Wealth Planning Group financial advisor can help you understand the reasons for buying insurance and how to determine the kind and amounts of insurance you need.

Life insurance planning can be a useful tool in your estate plan. When implementing life insurance plans, there are many elements that require consideration from advisors, including gift tax issues, estate tax issues, and generation-skipping transfer taxes. Moreover, understanding basic insurance principles can provide enhanced value to you as you customize planning solutions to meet their specific needs. We work with multiple agencies to find affordable solutions to address your unique needs.

Legacy-Estate Planning

Estate planning is designed to help you manage and preserve your assets while you are alive, and to conserve and control the distribution of your assets after your death according to your goals and objectives. In other words, it’s about deciding, while you’re alive, how you want your assets to be used to help the people you love and/or the organizations that matter most to you.

Estate planning is an essential consideration for people of all ages – the earlier, the better. Too often, many people put it off — sometimes until it’s too late. The time to begin developing your estate plan is now, otherwise your estate, your assets and your personal wishes could end up being decided by your state government (this is called intestate).

But what estate planning means to you specifically depends on who you are. Your age, health, wealth, lifestyle, goals, and many other factors determine your particular estate planning needs. For example, you may have a modest estate and may be concerned only that certain people receive particular things. A simple living trust and will may be sufficient for you. Or, you may have a large estate, and minimizing any potential estate tax impact is your foremost goal. Here, you may need to use more sophisticated techniques in your estate plan and multiple trusts may be called for.
When assisting clients with their estate plan it is important to note that we are not attorneys and thus to not draft legal documents, nor do we render legal advice. As our firm has CERTIFIED FINANCIAL PLANNER™  practitioners, they we work with their client’s chosen estate planning lawyer(s) in a team effort to help evaluate suitable planning techniques and strategies so to enable our clients to effectively meet their estate planning goals. Lastly, when appropriate, we may also offer corporate trustee services through Private Trust Company, (PTC), a wholly owned subsidiary of LPL Financial, for those clients that have a need for such services.

Tax Planning