A good financial planning team is important to this process. One or more of the following persons may be part of your team.
- You - You are the captain! If you don't have the desire to put your "financial life" in order, it will not happen.
- Financial Planner - All certified financial planners today are trained in one or more the following disciplines: (Law, Accounting, investments, insurance, etc.)
- Law - An attorney will also be required to draft legal documents such as Wills, Power of Attorney, Trusts, Buy-sell agreements, etc.
- Accounting - Bookkeepers or Accountants may be used to prepare tax returns, maintain and audit personal and company records, evaluate business worth.
- Life Underwriters - Many life underwriters have become estate and financial planning professionals. Properly used, life insurance products can become vital tools in solving many of your estate planning problems.
- Professional Trustees and Executors - Your Will can often preserve valuable assets for your heirs. Often individual family members will act as the Executor of a decedent's estate. They generally have good intentions, but their inexperience may prove very costly to the estate.
- Investment Advisors - They can assist in the procurement of investment vehicles and provide investment advice, either on a fee or commission basis.
- Charitable Advisors - Complex tax laws can make contributing to your favorite charities difficult. The advice of professional planners specializing in this field of planning can make it easier to donate.
Our team at Lighthouse Wealth Management acts as a quarterback or your personal Chief Financial Officer in assisting you with the above areas.