Services for Individuals

Financial Planning

Many people have individual needs and goals for which they are planning in their lives. If you ask them, financial freedom would probably rank high with the majority of people. Financial planning can help you accomplish whatever goals you have planned for you and your family. Money can’t buy you love or happiness but having a broad understanding of the financial aspects of your life can be very useful.

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There are various aspects to a person’s financial life such as spending habits, taxes, investment plan, and insurance needs. Most people want to accomplish things in their lives. Some major milestones in life include retirement or buying your first home. Maybe you would like to save some money for education expenses? Most things in life cost money so financial planning should be an integral part of your life planning. Part of the financial planning process includes identifying your goals and figuring out the most suitable way to get to those financial goals.

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One aspect of financial planning is to have a way to build and preserve monetary resources or capital. Building and preserving your capital requires your attention and some guidance. The financial planning team at Jack Trent & Company CPAs can give you one-on-one guidance through a free consultation to create a plan for your financial needs. We provide our clients with a comprehensive financial plan complete with short-term and long-term goals. We can also help you implement your financial plan and monitor the steps you are taking to meet your goals.

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At Jack Trent & Company CPAs, there are six steps to the financial planning process with which our financial team provides our clients.  We can:

  • Determine your current financial situation
  • Develop your financial goals.
  • Identify options to get you to your financial goals.
  • Evaluate investment options based on risk versus return.
  • Create and implement a financial action plan.
  • Revaluate, monitor success towards financial plan, and potentially revise the financial plan if there are life-changing events.

Financial planning can involve quite a few subject areas. Some examples of the topics of financial planning include:

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  • Financial statement preparation and analysis
  • Insurance planning and risk management
  • Employee benefits planning
  • Investment planning
  • Income tax planning
  • Retirement planning
  • Estate planning

College Education

Do you have enough saved for your child’s college education? We can help you accurately estimate what you will need when your child goes off the college. With education costs rising every year, reaching the goal of a college education is really a group effort for which you can plan together.

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During your free consultation with the financial planning team at Jack Trent & Company CPAs, we can identify how much money you will need for child’s education and when the funds will be needed.  By understanding the timeline and the budget, we can provide the right investment strategies that are specific to your financial needs regarding your children’s college education or even your own continuing education.

Insurance Planning

Is your family protected financially? Unfortunately, bad things happen to good people all the time.

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During your free consultation with the financial planning team at Jack Trent & Company CPAs, we can help make sure that you have enough insurance coverage to plan for the risks that are inherent in life. We will help you analyze you and your family’s needs and help you decide the best way to protect your family against potential future risks.

Retirement

Most of what you do when you create a financial plan ultimately will help you to see the big picture of how you will cope during those years of retirement.  Unfortunately, most people are not aware of the resources they will have when they retire. When you properly plan for that time in your life, you will rest assured, knowing you will enjoy your retirement rather than dread that time of your life.

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Do you have enough for retirement? During your free consultation with our financial planning team at Jack Trent & Company CPAs, we can help you identify your needs at retirement, how long you have until you plan to retire, and compare it with your current assets and sources of retirement income. We will help you identify some financial planning options for your financial situation and your investment risk tolerance so that you will be prepared.

Estate Planning

One of the most arduous tasks for your life’s financial planning is estate planning. Estate planning on your own can be complicated and costly. And the list is endless… state taxes, bureaucracy, probate courts, unfair appraisals, health care concerns, eligibility of heirs, life insurance, IRA’s, 401K’s, annuities, burial or cremation costs, and intent regarding death-postponing treatment to name a few. Not knowing your legal and financial rights often ends up costing you and costing your loved ones more in the end.

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Thoughts of estate planning often bring more questions than answers: Could an heir be too young to inherit? Should the inheritance be given at a certain age? Is the intended beneficiary in a shaky marriage with divorce as a possibility? Are there children from a previous marriage? Should inheritance be protected from potential creditors of the heir? Are there taxes that can be avoided? Are you able to avoid the probate court rules, delays, and costs?

Planning what happens to your estate when you’re gone can seem frustrating and intimidating without qualified help.

You may feel that you’re too young to care about estate planning. Or, perhaps the reminder of death makes you uncomfortable. You might be tempted to put the whole thing off, assuming that it will just take care of itself. In all cases, estate planning ends up saving your family lots of time, heartache and money.

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And we can help.

Every estate planning situation is different. In order to help you, we want to know you, your unique situation, and the nature of your relationships. The financial planning team at Jack Trent & Company CPAs offer discussion, recommendations and useful research tools to make your planning simple, efficient, and worry-free. We are available throughout the process for further discussion regarding questions, change of circumstances, and alternatives. At every step, we’ll be there with you.

We help you…

  • Clearly define your estate planning goals.
  • Organize and create your estate planning team (experts on law, finance, and taxes) if you need one.
  • Evaluate and recommend estate planning options.
  • Prepare, organize and review your estate planning documents including current wills, trusts, health care and power of attorney.
  • Decrease the problems and expenses associated with probate.
  • Lessen taxes at time of death.
  • Arrange for management of your estate in the event you are incapacitated.
  • Draft a working plan for conserving and effectively managing your estate after death.
  • Transfer the assets of your estate to heirs the way you want.
  • Organize fair and adequate liquidation of estate to cover taxes and other expenses.
  • Amend your plan as needed.

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You also get help with…

  • Living Wills and Trusts.
  • Lifetime Family Wealth Transfers.
  • Family partnerships and other business relationships.
  • Leaving money to charities.
  • Preparation for estate and trust tax problems.

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The hassles and red tape associated with estate planning can be daunting, but you don’t need to do it alone. The financial planning team at Jack Trent & Company CPAs is waiting to assist you through every step of the process.  Call today to schedule your appointment at 208-947-2400.  We look forward to working with you!