Thanksgiving is approaching, and many will spend the day and a meal with our families, friends, and loved ones. It’s great to be able to reminisce about amazing experiences from the past while also creating new ones for future generations. Thanksgiving can be a time of reflection and gratitude for the people in our lives.
This leads us to the somewhat delicate topic of estate planning. Estate planning is so much more than a binder full of legal documents. It is Janiczek Wealth Management’s responsibility to question, “When was your estate plan last updated and what are your intentions?”
Life will surely continue to change, children marry and have children of their own, we develop new relationships, and so on. Changes in financial assets, births, deaths, marriage, charitable intentions, all impact an estate plan, which is why Janiczek recommends updating estate planning documents every five years or if there is a big life event.
Janiczek, as your comprehensive financial advisor, analyzes the 10 areas of estate planning using our Estate Optimization GridTM. To alleviate stress during times of high worry, we assist our clients to a position of financial strength (green) . The following are the 10 areas of estate optimization, as well as the questions you should ask yourself and family members:
- Blueprint: Is there a summary of your estate plan so family and survivors know where your documents can be found?
- Protection: Do you have the proper protections in place to protect your assets?
- Charity: Do you have any charitable or philanthropic intentions?
- Continuation: Do you have sufficient life insurance in the event of an unforeseen death?
- Supplemental: Do you have the proper ancillary documents in place (living will, powers of attorney, medical directive, etc.)?
- Simple: Are simple estate planning strategies/techniques needed at this time?
- Will/Trust: When was the last time your wills were reviewed/updated?
- Title: Is your asset ownership and beneficiary elections in line with your estate documents?
- Family: Is your family aware of a future legacy?
- Complex: Does your situation require complex estate planning strategies/techniques?
We acknowledge that having these kinds of conversations are difficult, but by having it is essential to ensure your wishes are carried out. As your financial advisor, we will collaborate with you, your attorney, and your CPA to establish an effective estate plan. With Janiczek, you can be confident that you have an advisor that always puts your interests first.
If you are interested in learning more about legacy planning and our services, please contact Cathy Wegner, Director of New Client Engagements, at 303-339-4480 or firstname.lastname@example.org.
The content herein is to be used for informational purposes only. Neither Janiczek Wealth Management or its owners and employees represent or warrant the accuracy or completeness of the information contained in this report. In no event will Janiczek Wealth Management or its owners or employees be liable for any damages that may result from the use of or reliance on these materials. Janiczek is neither a law firm nor an accounting firm, and no portion of its services should be construed as legal or accounting advice. We recommend that anyone reading this material consult their CPA and estate planning attorney regarding these matters. Moreover, you should not assume that any discussion or information contained in any Janiczek published work, whether in digital form or otherwise, serves as the receipt of, or as a substitute for, personalized investment or financial advice from Janiczek.