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Secure Your Financial Legacy

When planning for your legacy, it’s important to consider various financial aspects. Here are some additional details and keywords to help guide you:

Estate planning involves creating a plan for the management and distribution of assets after death. This plan can include a living trust, a legal document that allows assets to pass to beneficiaries without going through probate court. Living trusts can help avoid the costs and delays associated with probate.

Financial planning services can assist with developing a comprehensive estate plan. A good financial advisor can provide investment advice and help navigate the various types of financial advisors, such as registered investment advisors and fee-only advisors. A certified financial planner (CFP) designation indicates that an advisor has met certain standards of education, experience, and ethics.

When choosing a financial advisor, consider their costs and whether they earn commissions on products they recommend. The Securities and Exchange Commission (SEC) provides resources to help find a financial advisor who is right for you.

Retirement plans, such as individual retirement accounts (IRAs) and 401(k)s, are essential for securing a comfortable retirement. A financial advisor can help with retirement planning and ensure that retirement accounts are properly incorporated into an estate plan.

Assets under management (AUM) refers to the total value of assets managed by a financial advisor or firm. Advisors may charge a percentage of AUM as their fee.

In conclusion, legacy planning involves considering various financial aspects, including estate planning, financial planning services, retirement plans, and choosing a financial advisor. Consult with a qualified financial professional, such as a CFP or registered investment advisor, to develop a comprehensive plan that meets your specific needs and objectives. By doing so, you can secure your financial future and leave a lasting legacy for your loved ones.

Michael Garry Yardley Wealth Management

Author Michael Garry Yardley Wealth Management

Michael Garry is a CERTIFIED FINANCIAL PLANNER™ practitioner and a NAPFA-registered Financial Advisor. He is a member of the National Association of Personal Financial Advisors (NAPFA) and the Financial Planning Association (FPA).

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