The Team Approach to Planning

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When it comes to estate and financial planning, the team approach works best. Nothing is more frustrating than getting contradictory advice from your attorney, financial advisor, insurance advisor, or CPA. Who are you to believe? The authors know that the best results are achieved when all the professionals are working together to craft and implement a comprehensive and integrated plan that truly meets your needs and goals.

What Do You Look For in an Advisory Team?

Connection    One of the primary attributes a team can have is the ability to connect with you and your objectives. Teams that immediately go into “problem solving” mode typically are not good listeners.  In planning there is no such thing as one size fits all.

Experience    There are many professional generalists. The right team will have the experience to guide you in the area of expertise in which they are proficient, and rely on other team members in the areas they are not.

Collaboration    An effective team is one that has a seamless collaborative process. All the experts know their roles, and provide accountability to the other advisors on the team.

I Already Have an Advisor. Why Should I Use a Team?

The planning process has many areas of engagement such as Risk Management, Investment Analysis, Education, Retirement, Charitable, and Trust and Estate Planning. Your advisor may have expertise in one or two of these areas, but all the topics need to be considered when planning properly. Therefore, it is typically the team approach that works best to achieve your desired results.

Who Are the Members of a Typical Advisory Team?

Attorney, CPA, Financial Advisor, and Insurance Specialist.

What Role Does the Attorney Have?

The attorney will participate with your financial advisor and CPA in the discovery of information and clarification of those objectives you wish to accomplish. Once plan design is agreed upon, the attorney will draft the proper documents to make them legal and binding.