Estate Planning

When it comes to your financial future, it is important to have a detailed plan in place, regardless of your health or age.

Over the years we’ve learned that there is no such thing as starting the estate planning process too early. By establishing a detailed plan—one that covers retirement, end-of-life expenses, the transfer of assets, and more—you can be sure that your wealth will remain secure, no matter what the future has in store.

As you begin planning your estate, there are many important details you will need to consider. Among the most important is the type of assets you plan to store your wealth in. Naturally, you’ll want to choose investment vehicles with relatively lower risk, high potential for growth, as well as future flexibility.

The estate planning strategy that is right for you will depend on the current value of your asset, what you want to do with the money, and the taxes you will be exposed to when transferring funds. One detail that is important to note is that there is currently a $12 million temporary giving exemption that expires at the end of the year.

As you’d probably expect, that exemption can have a pretty major impact on your future tax bills.

Other estate planning details to consider include whether you will be able to access your funds while you are still alive—something that can typically be achieved with a cash value life insurance policy and other assets.

Everyone’s financial situation is unique, which is why you need an experienced estate and financial planning team by your side. At Symphony Financial, we work with each of our clients to learn about their personal situation and financial goals.

From there, we create a custom plan with clear, actionable steps forward. In a fast-moving, everchanging world of financial planning, we are here by your side.