Estate Planning
Estate Planning: Your Advocate in Securing Your Legacy
Welcome to the first step in safeguarding your future and securing your legacy. Estate planning is a thoughtful process designed to protect what matters most to you—your family, your assets, and your peace of mind. At Beacon Financial Planning, we understand the importance of this journey, and we're here to guide you with insights and expertise, ensuring that your wishes are honored and your loved ones are cared for, no matter what the future holds. Our mission is to be your advocate, guiding you through every step of the estate planning process to provide peace of mind for you and your loved ones.
What is Estate Planning?
Estate planning is more than just drafting a will. It's a comprehensive approach to arranging the management and disposal of your estate during your life and after death. Our approach ensures that your assets are managed and transferred according to your wishes with as little tax implication and legal hurdles as possible.
Estate Planning Checklist: Getting Started
•Inventory Your Belongings: Start by cataloging all your assets, including properties, investments, and personal possessions.
•Assess Your Family’s Needs: Consider the financial needs of your family and any potential challenges they might face.
•Identify Key Decisions: Decide on guardians for minors, an executor for your will, and a power of attorney for financial and healthcare decisions.
•Consult a Professional: Estate planning can be complex—at Beacon Financial Planning, we have the experience and expertise to help ensure no detail is overlooked.
Key Estate Planning Documents
To ensure comprehensive coverage, consider these critical documents:
Will: Outlines how your assets will be distributed, who will care for your children, and more.
Power of Attorney: Appoints someone to handle financial and legal matters if you're unable to do so.
Living Will: Specifies your wishes regarding medical treatment if you're unable to communicate.
Trusts (if applicable): Helps manage how your assets will be handled both during and after your lifetime.
Legacy Planning: Beyond the Financials
Legacy planning allows you to pass on more than just assets—it considers the values, lessons, and memories you want to leave behind. This holistic approach ensures your legacy carries on as you envision.
Providing Peace of Mind Through Advocacy
Our goal at Beacon Financial Planning is to advocate for your needs, simplify the complex, and provide the peace of mind you deserve. We're here to guide you through each decision, ensuring your plans reflect your desires and benefit your loved ones.
Frequently Asked Questions
Q What is the first step in estate planning?
The first step is to create a comprehensive list of your assets and consider your family's future needs.
Q How often should I update my estate planning documents?
Review and update your documents at least every five years or after major life changes like marriage, divorce, or the birth of a child.
Do I need a lawyer for estate planning?
While it's possible to draft documents yourself, consulting with a lawyer ensures that your estate plan adheres to state laws and best practices. At Beacon Financial Planning, we work closely with a team of professionals and can refer you to an attorney who can assist with the drafting of legal documents.
Do You Have an Estate Plan?
If you don't have an estate plan that aims to protect your wealth and pass on your legacy, there's no time like the present to get started. Contact us today to schedule a complimentary appointment to talk about practical plans for your legacy and what you hope to pass on to your loved ones. We want to make estate planning feel less like a chore and more like a comforting assurance for your future.
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Securities offered through Kestra Investment Services, LLC, (Kestra IS), member FINRA/SIPC. Investment Advisory Services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS or Beacon Financial Group. Beacon Financial Group is affiliated with Kestra IS and Kestra AS.