Comprehensive Approach

At The Estate Planners Group, we have a comprehensive approach to financial planning.  There are five areas of financial exposure common to every person – income, risk management, taxes, legal matters, and investing.  Each of these areas is interrelated and requires sound financial understanding and planning.  For example, a person’s income affects the type of tax planning he must do. And, the tax planning a person does, can effect what investment vehicles are best for him.  Holistic financial planning, which incorporates an understanding of these five areas, is the soundest approach.

Below, we’ll look at some of the questions our financial planners address in each of these five areas:
     
1. Income: Will I outlive my income? What’s the appropriate “spending rate” for my financial situation? Are tax-free investments the best type of income for me?

 2. Risk Management: Do I have insurance that is appropriate for a person of my age and financial situation? Is my insurance titled in the right way? What types of insurance are best for me?  How can I best protect my estate from catastrophic loss?

3. Taxes: How can I reduce my income tax? How effective is my tax planning? Does my tax plan coordinate with my investment allocations and income needs?

4. Legal Matters: How do I minimize the estate tax charge to my heirs?  I have a will, but do I need a trust as well? Will my estate be subject to probate? Do I have documents that direct physicians in my incapacity?

5. Investing: Do my investment choices fit my investment goals? Can my investments create income, protect me, and grow in every market cycle? Are my investments simply too risky? Who’s watching my portfolio so I don’t need to?