People often mistakenly assume that estate planning is something that only older individuals need to consider. The truth is that legacy planning should occur after any major event in your life, such as getting married, getting divorced or having a child. Legacy planning is more than just dictating a will on how to divide your assets after your passing; it is letting your loved ones understand the kinds of decisions to make if the unexpected should happen to you, and preparing for the financial requirements ahead.
There are many different aspects to creating a customized estate plan. Our financial professionals and advisors guide you in understanding the pros and cons of including certain parts of a legacy plan. Many plans tend to include the following:
Powers of attorney and wills can differ, so it is important to consult with a legal professional about which options are right for your needs. Our professionals can help you understand the impact your current plan may have on your taxes and, ultimately, your financial goals.
Now is a great time to start your legacy planning and making financial preparations for the future. To learn more about the process and how the professional advisors at Beacon Financial Group can serve you, call us today at 908-788-3636 and schedule a consultation.