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.
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
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
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