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Financial Plan

Many people recognize their need for a strong financial plan to make sure they can take care of their family and have enough funds for retirement.   However, a financial plan is just one piece of a two-piece puzzle.   Financial planning and estate planning work together to provide you with all the tools you need to create your desired future for yourself and your loved ones.

What’s Included in a Financial Plan

Financial planners look at someone’s entire financial situation and develop strategies to maximize that person’s assets and most improve their financial situation.   A financial planner understands the details of financial strategies and tools to help tailor your strategies to your situation and goals.   A unique and personalized plan is what you need to have direction with your financial efforts.   A proper financial plan helps you save for expensive needs, college, prepare for retirement, plan for travel, or other goals that you have.

However, a financial plan can pass away along with you.   You need a proper estate plan to direct where you want your assets to go after you are gone, so you can continue to take care of your family.

What’s Included in an Estate Plan

Estate planning attorneys counsel with an individual to prepare for possible incapacity and for the inevitable passing away.   Yes, this may not seem like an uplifting topic, but you can create a positive environment for your family’s harmony and well-being to continue long after you are gone.   It can also help you focus on the positive things of life, knowing that your family is taken care of in all facets of life and knowing that they are provided for.   A proper estate plan can encapsulate your parenting style and teach your values and morals to your descendants in perpetuity.

Your estate planning attorney should seek to develop a relationship with you so you can have your questions answered and begin to understand how your personal life interacts with the law and other facets of life.   That relationship should lead to a unique and personalized estate plan and attention for as long as you two are around.   It is imperative that your estate plan be clear and correctly reflect your life situation and goals.   An estate plan can protect the property that you have maximized through your financial plan and keep that wealth with your loved ones and intended beneficiaries.   This is a powerful tool.

How These Two Efforts Work Together

You should ask your financial advisor and your estate planner to collaborate together.   That will help them get all the information they need to help take care of you.   These two professionals, and the plans they can develop for you, should work closely together and provide a comprehensive plan that takes care of you and your loved ones.   One without the other is incomplete, and you will be less satisfied with your wealth with just one.

Final Thoughts

If you already have a financial planner, we work closely with them to ensure that your financial and estate plans work seamlessly together to benefit you.   If you do not yet have a financial planner, we can help you connect with a planner with whom you can work.

An estate plan is an important part of your financial life.   It protects your family and can allow you to focus on what is really important: your family, rather than be distracted by preventable concerns.

Contact The Rains Law Firm or schedule a complimentary initial meeting to start taking care of your financial and estate plans.