Planning During Your Peak Earning Years

Accomplish Your Goals by Creating A Proper Estate Plan

Are you between the ages of 40 and 55? If yes, then congratulations! Research has shown that you are in your peak earning years.

Chances are good that you also have some expensive life events going on now. Do you have children who are college bound or already there? Do you have one or more weddings to pay for in the near future? Are you the caregiver for your elderly parents?

These are the times when you have to stay flexible, making sure that your estate plan takes into account your children’s varying financial needs and changes in the law that allow the minimization of estate and income taxes.

Things to think about

You should make sure that the beneficiary designations on your retirement plans and life insurance are up to date and coordinated with your estate plan.

You may be interested in making sure that your children’s inheritance is protected from their creditors, which could include a divorcing spouse. If you have a special needs child or an adult beneficiary who is receiving government benefits, you will want to make sure that an inheritance does not cause them to be disqualified from receiving their benefits.

You may also feel that you want to give back to the community by including a charity in your estate plan.

There are ways to achieve your estate planning goals. When we meet with you, we review your family situation, your assets, and your wishes, then work with you to come up with a plan to accomplish your goals.