Passing Assets To Future Generations

So, you’ve done all the hard work for yourself and are secure in your retirement. What’s your next step? You may want to secure your children, grandchildren, or even great-great grandchildren’s financial future. To do this, you will need a strategic plan for estate and assets in the event of your passing. The team at Guardian Financial Management in Flower Mound, TX, is here today to discuss legacy planning.

The Basics of Planning for the Unexpected

Planning for your passing is an essential way to support your loved ones during a challenging time. After your passing, your family will need to settle your affairs, and the more organized you are, the easier you’ll make this process for them. With thoughtful preparation, what could take a year to resolve can often be managed in just a few months. Start by compiling a comprehensive list of accounts and passwords to ensure your family or executor can access critical information. Clearly document any medical wishes to guide decisions if you’re unable to make them yourself. Regularly update beneficiaries on your financial accounts, insurance policies, and retirement plans to reflect your current preferences. Finally, discuss your plans with your executor and power of attorneys.

Have A Plan For Your Estate

You’ve worked hard your entire life to build up your assets and estate, so it’s understandable that you want a plan that passes these assets as you wish. An experienced financial advisor on our team can help you with estate planning that meets your personal wishes. This can include picking out the right life insurance policy for your lifestyle, settling financial affairs, determining inheritance, and more. These areas can be complex, but an experienced advisor can help ensure that your children, grandchildren, and loved ones are taken care of. In the event of your passing, your assets can be dispersed to your spouse, kids, or other family members. You may also include donations to charities, education funds, and other savings accounts in your estate planning. Creating a will or trust can help ensure that this process runs smoothly, and your assets are dispersed as you planned.

Creating A Will Or Trust

A will is a document that states how your assets will be distributed. Similarly, a trust is a document that transfers assets to a trustee who manages them for a beneficiary. While a will is used after your passing, trust funds can be managed and distributed during your lifetime. An experienced advisor can help you determine whether a will or trust is more beneficial for your specific circumstances. These documents not only help ensure that your assets are properly distributed but can also help significantly reduce the amount of taxes owed on assets. For example, if you plan on giving a family member your home after you pass, a trust can help decrease some of the tax burden

Talk To The Team At Guardian Financial Management

Are you interested in learning more about financial planning? Schedule an appointment with the team at Guardian Financial Management in Flower Mound, TX, today at 972-996-7858.

Take Your First Step

Contact Us

600 Parker Square, Suite 220
Flower Mound, TX 75028

(972) 996-7858

Investment advisory services offered through Brookstone Capital Management, LLC (BCM), a registered investment advisor. BCM and Guardian Financial Management are independent of each other. Insurance products and services are not offered through BCM but are offered and sold through individually licensed and appointed agents.

The content of this website is provided for informational purposes only and is not a solicitation or recommendation of any investment strategy. Investments and/or investment strategies involve risk including the possible loss of principal. There is no assurance that any investment strategy will achieve its objectives.

Registered Investment Advisors and Investment Advisor Representatives act as fiduciaries for all of our investment management clients. We have an obligation to act in the best interests of our clients and to make full disclosure of any conflicts of interests. Please refer to our firm brochure, the ADV 2A item 4, for additional information.

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