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Why Do People Fail To Do Financial Planning?

April 04, 2016

We have observed that many otherwise intelligent and responsible people fail to create a financial plan. Reasons include such things as: 1. Financial planning requires paying a professional in the present for something that is ultimately accomplished in the future. For many, paying for an intangible (such as advice and counsel) is a new thing…. Read more »

I Often Hear the Term “Wealth Management.” Is That the Same as Financial Planning?

April 01, 2016

The term “wealth management” means different things to different advisors. However, in most cases it encompasses a broad approach to assisting individuals and families to accomplish their financial goals. Specific disciplines within the wealth management process may include financial planning, investment management, risk management, and estate and legacy planning. Who Needs Financial Planning? Generally speaking,… Read more »

What is Financial Planning?

March 30, 2016

Financial planning is probably one of the most future-oriented activities in which you will participate during your lifetime. Because it looks ahead to the unknown, it can also be an intimidating task. It requires you to determine where you want to be financially at different points in time in the years ahead; and then to… Read more »

What is The Difference Between Estate Planning and Financial Planning?

March 28, 2016

Financial planning tends to focus on the accumulation and preservation of wealth. It often encompasses such things as: • Clarifying Financial Objectives • Education Funding • Retirement Funding • Cash Flow Budgeting • Risk Management • Asset Protection • Balance Sheet, Income Statements, and other financial measures Estate planning, on the other hand tends to… Read more »

What Does Estate Planning Cost?

March 24, 2016

Estate planning is as an investment in the future of you and your family. It is not a commodity that should be judged by price alone. By way of comparison, your local police department probably doesn’t shop for the cheapest bulletproof vests it can find for its officers. The emphasis rather is on quality and… Read more »

Do I Really Have to Disclose Everything I Own to My Attorney and/or Financial Planner?

March 22, 2016

In our experience, some clients are reluctant to reveal everything they own to any single advisor. They may have investment assets with more than one investment advisor or insurance policies with more than one insurance professional. However, when preparing for estate planning it is very important that the attorney (and any other professional advisors on… Read more »

How Can I Prepare For Estate Planning?

March 18, 2016

In most instances, your estate-planning attorney will provide a questionnaire to help organize the data and provide the specific information needed for planning. The questionnaire will ask not only about your assets, but also about your citizenship, your family composition, your children and other beneficiaries, your wishes during a disability, a list of the people… Read more »

Should I Do My Own Estate Planning?

March 16, 2016

Today there are limitless software programs and books that promote doing your own estate plan. Websites and self-help companies will sell forms claiming to help you create your own estate plan almost for free! Although it may be tempting to do so, you should think very carefully before undertaking the do-it-yourself approach. Researching information on… Read more »

What Are The Goals Of Estate Planning?

March 14, 2016

Estate planning goals will, of course, vary from family to family, and depend on the things you find important. Generally speaking, estate planning is designed to allow you to give what you own to whom you want, when you want, and the way you want. In doing so, you are able to care for your… Read more »

Why Do People Fail To Do Estate Planning?

March 10, 2016

People invariably fail to plan due to misconceptions about the process. As mentioned above, some people view estate planning as “death planning;” an event about which few people want to think. It’s hard for most of us to face our mortality and the brevity of life. Others believe that planning is complex and expensive. They… Read more »