Scope Of Planning
People contact us for many reasons, but the one thing they all want is clarity about something that is bothering them.
Here’s what some of our clients say about why they contacted us:
- I don’t know if there is enough insurance to take care of my family if I die.
- I’m concerned about not having an income if I become disabled.
- We want to be able to afford to care for ourselves if a critical illness strikes.
- We want to know how to transfer our assets to our kids and pay as little tax as possible.
- We don’t have a will.
- We want to make sure the kids are treated fairly when we die.
- We have wills, but we don’t know if they are very good.
- We are uncertain what our income will look like after we retire.
- If something happens to me, I don’t know who will run the company or who will buy me out.
- My company does not have buy-sell insurance.
- Our buy-sell plan was written a long time ago, and I am not sure how good it is.
- Our kids don’t understand our affairs, and I am concerned they won’t know what to do when we are gone.
- I have lots of assets, but it seems like I am always tight on cash flow.
- I want to worry less about my financial affairs.
- We are concerned our kids will become lazy and unproductive when they inherit our wealth.
You might be affected by one or multiple stressors from above. Either way it is possible to develop a plan to address them. Your needs determine our approach.
THE WHOLE ENCHILADA (COMPREHENSIVE FINANCIAL PLAN) OR A LA CARTE (FOCUSED PLAN)
Whether you want the Whole Enchilada or need a specific issue addressed, we can help. Our Right Way PathTM is our go-to process to make sure we do a thorough job in delivering the answers and recommendations you need. Our Comprehensive Financial Plan includes all of the individual items listed below, but you can also contact us if you’re interested in just one or two (or three) of these insurance services.
- Tax Planning: We can analyze your existing tax planning and provide a second opinion. We understand why tax structures are put into place and what they are supposed to do, so we can determine relatively easily if you are taking full advantage of them. If your structure or plan needs updating or is lacking in some way, we’ll recommend ways to improve them. We will work with you and your advisors to get the appropriate changes made or recommend top-tier advisors who can implement the changes for you.
- Estate Planning: We can review your existing plan or develop a new one from scratch. Effective estate planning starts with a good will, one that does what you want and provides for contingencies you haven’t thought of. It also includes planning using trusts, holding companies, and insurance. The right combination of tools can deal with almost any eventuality. Your estate plan will overlap with your tax plan, and we can help you understand how they work together, both during your life and after your death.
- Business Continuity Planning: If you are in business and have partners or co-shareholders, you probably have some idea about what you want to happen in the event that one of you dies, becomes disabled, or gets a critical illness. But do you have it written down? And does everyone have the same expectations? Our experience is that most businesses run without a proper plan or agreement in place, so no one really knows what will happen if someone dies. There is just a hope that it will all work out or no one will die before you leave the business. The problem is that the unthinkable can happen and it does. We have experienced the good, the bad, and the ugly when it comes to the death of a shareholder and can attest to the value of a good agreement. We also know how difficult it can be to get an agreement in place. With our help, you can get it done, and it will be a good agreement. Let us take the stress out of the process for you. Call us now.
- Family Enterprise Advisor: It’s one thing to be parents, siblings, and kids within the home…it’s a whole other story when you are entrenched with one another because of a family business. You can’t escape like you could if you all had jobs outside of the business. You may not feel in control of your own life because individual decisions are tied to the collective whole. Everyone seems to be in everyone’s business, and this can lead to conflict and strain. Being in business with other family member means all of the relationship dynamics, particularly the unskillful ones, get magnified in a business setting. But on the flip side, some of the most successful businesses in the world are family enterprises. We understand this unique business arrangement intimately because we are a family business. We have the expertise to explore this complex dynamic with you. Call us to find out more about our Family Enterprise Advisor services.