Distribution

When it comes to retirement planning, we often think about how much we need to save while we’re working so that we can live out the rest of our years without worry. However, there’s another critical component: your distribution plan.

You and your advisor can put a plan together that determines the following:

  • At what age will you begin taking your distributions?
  • How much money will you need to take?
  • How often will you take it?
  • How can you invest your savings to increase the total value?
  • These are some of the questions involved in creating your lifetime income distribution plan. Each person’s plan is unique, based on his or her specific needs and goals upon retiring.

We all hope to live for decades beyond retirement. Making your money last involves a strategy that supports your needs and ensures you won’t outlive your savings.

Estate planning is the process of determining how cash and assets are distributed after your death or if you are unable to make financial decisions.  Along with an estate planning attorney, we can help you navigate this sometimes complex but important process.

Your plan may include:

  • A will
  • A trust for beneficiaries
  • A guardian for dependents
  • An executor to oversee the terms of your will
  • A health care proxy
  • Funeral arrangements
  • Assignment of power of attorney

Making estate planning decisions can be a difficult process. We can guide you along the way to help you make the decisions that are right for you, your finances and your beneficiaries.

Legacy planning gives you greater control over your estate and the ability to leave more to your loved ones.  While similar to estate planning, legacy planning is done with a more holistic approach and involves more than the distribution of your assets after your death.

From carrying on a family business to strategizing philanthropic pursuits, your legacy plan allows you the opportunity to continue to provide for others after your death.  Legacy planning can help you plan to provide financial assistance for your grandchild’s college fund, set up a succession plan for your business that gives you peace of mind, or establish a trust for the benefit of your favorite charitable organization.

Legacy planning gives you greater control over your estate and the ability to leave more to your loved ones.

Charitable giving benefits both you and charity of choice. In addition to advancing a cause with your donations, there are tax benefits that may be significant. When it comes to charitable giving, one good turn deserves another.  We can give you advice on how to make your donations work for you.

You’ve worked hard for many years to build a business that has the potential to continue long after your retirement. Eventually, someone other than you will be running it. You need a plan to hand over control of your business. Choosing the right person to continue your legacy is just the beginning. Other factors in succession planning include:

  • management roles
  • equity distribution
  • goal-setting and timelines
  • financing
  • documentation

Putting your succession plan in place will reduce the worry involved in wondering what will happen to the business after you leave it. Your financial advisor can help you make those critical — and sometimes delicate — decisions needed, particularly when family and friends are involved.