What is 'Estate Planning for Young Families'?
The 'Estate Planning for Young Families' program is meant to secure one's loved ones in the event of worst case scenarios, such as premature death. The sad truth is that most families do not have a plan to deal with life's most dire emergencies and the financial shocks they may cause. When it comes to personal finance, we often only think about savings and investments. However, we believe that the most important piece of a young family's financial plan is dealing with emergencies since these can have a devastating effect. We believe that our primary job as advisors is to mitigate the effects of these worst case scenarios by making sure that one's family is taken care of, even if one isn't around any longer.
How We Go About It
Key to mitigating the risks of worst case scenarios is the smooth transfer of wealth to one's survivors, without the burden of any liabilities, in the most tax efficient manner. We do this by developing a custom emergency plan for your family based on your assets, liabilities (mortgage, etc) and other financial and familial information. While each plan is different, this program typically involves at least the following:
Smooth transfer of assets like your home and investments through creation / review of your Wills
Ensure continuity if needed through provisions for testamentary trusts through one's Will
Income replacement in the case of premature death or disability through Life & Disability insurance
Asset Protection in the case of serious illness through Critical Illness insurance
Securing children's future through estate advantaged investment planning for their education
Four Step Process
1. You complete our data collection and discovery questionnaire
2. We develop a custom estate plan for you (takes about 7 to 10 days)
3. We present the plan to you (online or in person)
4. Together, we implement the plan in a structured manner, one task at a time
We do not charge a planning fee for this program. As advisors we get compensated through implementation of various aspects of the estate plan. You do not pay us at all either for the planning or the implementation of this program.
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