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.
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.
- Re-evaluate, monitor success towards financial plans, and potentially revise the financial plan if there are life-changing events.
Financial planning can involve quite a few subject areas. Some financial planning topics include:
- Financial statement preparation and analysis
- Insurance planning and risk management
- Employee benefits planning
- Investment planning
- Income tax planning
- Retirement planning
- Estate planning
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.
Is your family protected financially? Unfortunately, bad things happen to good people all the time.
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.
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. The list is endless: state taxes, bureaucracy, probate courts, unfair appraisals, health care concerns, eligibility of heirs, life insurance, IRAs, 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 your loved ones more in the end.
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
You also get help with
- Living Wills and Trusts
- Lifetime Family Wealth Transfers
- Preparation for estate and trust tax problems
- Family partnerships and other business relationships
- Leaving money to charities