Legacy planning is for everyone, not just the very wealthy, yet it is often the least understood part of the Financial Planning process by most advisors. Wouldn’t it makes sense to work with a CPA and Personal Financial Specialist who has been trained in this area?
The purpose of Legacy planning is to anticipate and arrange for the transfer of your estate in the most tax efficient manner possible. Typically, Legacy planning will include provisions to eliminate uncertainties over the administration of a probate and maximize the value of your estate by reducing taxes and other fees and expenses.
The process begins with obtaining a clear understanding of how you want your assets to pass to your desired beneficiaries, including those with special needs or charitable causes. We will then review any wills and trusts you currently have in place to determine if they match our understanding of your wishes. If there are discrepancies between your wishes and your current estate planning documents, or you simply don’t have the appropriate estate planning documents, we will work with your attorney or can recommend one to help you correct these deficiencies.
You have worked hard over the years to build up your assets. We will help you develop strategies for a safe and tax efficient transfer of those assets to your desired beneficiaries, including those with special needs or charitable causes, leaving the legacy you desire.
“Questions? Phil Putney, CPA/PFS is a federally licensed fiduciary. Call (248) 888-7530 or click here to schedule a no obligation consultation.