Project Description

shutterstock_128535854We all look forward to this stage in our life. Hopefully, if planned accordingly, you could be enjoying your retirement years with financial peace of mind and be in control of your estate and financial affairs. To get there, a good plan should be in place that will tackle all your expected and unexpected financial needs. Proper planning will also ensure that your estate will leave your beneficiaries a clean and easy transition that will transfer most, if not all, of your assets to them without complications.

There are many levels to retirement planning depending on various parameters such as, what your financial goals are, if you are preserving or creating an estate or even succession planning for a business; there are many things to consider.

A good retirement plan might consider that you will not outlive your wealth. It might also consider risk protection against sickness and premature death that may cause financial chaos. It might also have things in place for long term healthcare needs as we get older. It’s important to consult with the right advisors that will review your current situation and help you plan for what you would like to happen.

For example, if you have accumulated capital gains from your investments or business over your lifetime, on the second death of you and your spouse, the estate will owe a hefty tax bill to the government that could have been reduced to zero with proper planning. Protecting your estate requires careful planning and in-depth knowledge of family, estate and income tax laws which can be achieved with the help a tax and estate lawyer, an accountant as well as an Insurance and Financial Advisor.

The following are some suggested considerations:

  1. Distribution of Assets
  2. Family considerations including minors.
  3. Ownership, beneficiary designations and trusts.
  4. Business Planning.
  5. Foreign Considerations.
  6. Estate Planning, Wills and Powers of Attorney.

For more information on various strategies for retirement planning, please refer to the Strategies section.

Contact Us for more information about how this could work for you.