There are many opportunities to enhance estate planning with trusts, gifting and other strategies. Laura Kuntz CPA/PFS, MBT, has reviewed thousands of wills and trusts, and works closely with attorneys and CPAs for estate planning. Learn some of her insights about preserving what you’ve built and ensuring the moneys you’ve worked hard to grow go where you want.
Transcript:
Wealth preservation can be about more than preserving wealth for our lifetimes. It can be about preserving wealth as perhaps a spouse dies or a parent dies or even if we pass on and leave money to our heirs, and that kind of planning is called estate planning. There are many, many ways to enhance a person’s estate planning using revocable trusts, irrevocable trusts, gifting, charitable giving strategies, et cetera. In my experience, I’ve reviewed perhaps thousands of wills and trusts. We don’t practice law, of course. We work closely with your estate planning attorney or perhaps your CPA to help you construct your estate planning, but it’s a very, very important area. It helps you preserve what you’ve built and make sure that the monies that you have worked hard to create go where you want them to so make sure your financial adviser helps you with this key area.
It is so fulfilling to know that the money that you have worked so hard to build, the wealth that you have worked so hard to build, that when you pass on it will go exactly how you intend, whether it’s to your family, children, grandchildren, perhaps a charity, and to know who gets what and how much and that it’s properly protected.
One of the things that we do for our clients is help them chart out, we actually do this for our clients, we chart out in their estate plan who gets what and when and how, and we do updates for our clients so that they know how that changes as their wealth changes. That I think feels very, very good to them because wills and trusts can be complicated, but to see a flow chart simplifies things. Make sure that you choose a financial advisor that can help you fully understand your estate plan and help you make sure that your dollars and that wealth you’ve worked so hard to create goes exactly how you’d like it to.
Laura, the founder of LWP, is a Senior Wealth Manager, Chief Investment Officer and Shareholder. She has a master’s degree in tax and is an excellent listener. While she is a sophisticated financial planner with experience in complex issues, her priority is ensuring a financial plan works for people.
