To fund a child's College Education you need to start early, set a savings target and then create a comprehensive funding plan. There is a combination of choices available today when choosing a funding vehicle for your college savings goals. They include: UTMA Accounts, 529 College Savings Plans and Coverdell Educational Savings Accounts.

An Estate Plan is a written expression of how you want your assets to be owned, managed and preserved during your lifetime; and how you want them disposed of upon your death. Your attorney often designs an estate plan to incur the least possible taxes and other costs. Creating an estate plan involves a careful analysis of your assets and how they are owned (real estate, securities, business interests, life insurance, retirement plan benefits and other property) and a decision about whether you should create a lifetime trust, or a trust in your will.

These trusts provide legal methods available to minimize various taxes and the costs of administering your estate upon your death. Your attorney will want to discuss wills, trusts, business interests, life insurance, Social Security benefits, long-term care, charitable giving, special needs for disabled or elderly, taxes, estate administration expenses, etc. Many of the subjects discussed will involve legal and tax questions of great importance to you. Your decisions should be made with the confidential advice of your attorney, aided in many cases by an accountant, trust officer, insurance adviser or investment counselor. With a properly designed estate plan, you will be assured of the welfare of your family and the education of your children.

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Financial Planning is the process of meeting your life goals through the proper management of your finances. Life goals can include buying a home, saving for your child's education or planning for retirement. The financial planning process consists of six steps that help you take a "big picture" look at where you are financially. Using these six steps, you can work out where you are now, what you may need in the future and what you must do to reach your goals. The process involves gathering relevant financial information, setting life goals, examining your current financial status and coming up with a strategy or plan for how you can meet your goals given your current situation and future plans.

Financial planning provides direction and meaning to your financial decisions. It allows you to understand how each financial decision you make affects other areas of your finances. For example, buying a particular investment product might help you payoff your mortgage faster or it might delay your retirement significantly. By viewing each financial decision as part of a whole, you can consider its short and long-term effects on your life goals. You can also adapt more easily to life changes and feel more secure knowing that your goals are on track.

Stop by today to have us help you with your College, Estate or Financial Planning.

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