Estate Planning

How does Estate Planning play a role in our Financial Life Plan® process?

 
By this point, you know that every single new client that works with our team begins by completing their Financial Life Plan®.

This plan will incorporate your income, expenses, taxes, insurances, short term & long-term financial goals and then show you exactly what needs to be done to become more efficient tactically in the short term and increase the plan success rate in the long run.

A lot of clients reach out to us because they are looking for tax management help, investment analysis and guidance with retirement & life goal planning. Maybe these are what’s motivating you as well. 

Here’s what we’ve found: 

When I ask soon-to-be-clients (particularly young families) if they are have an estate plan I hear a variation of "I have been meaning to work on my estate documents, but it just has not happened yet..." or "I did that 5 years ago on Legal Zoom and haven’t checked since!”

Protecting Your Family's Future

If Estate Planning is an area of great need, why does it rarely come up on our Right Fit Call as something that led you to reach out? 

In our experience, Estate Planning is that one piece of your family’s planning that you know you NEED but keep pushing off. It makes sense: estate planning forces you to think about your family’s worst case scenario, it seems unnecessarily complicated, and you’ve heard it’s expensive. 

Then, even when you do commit to taking that first step, where do you even start: 

• What documents does your family need? 
• Do you speak with an estate planning attorney…how much will they charge?
• What will the attorney need from me to get started? Should I be asking about a trust?

There’s a lot to think about.

Our Financial Life Plan® will answer ALL of these questions: In fact, through our firm's our partnership with Wealth.com means you will be able to complete your family's estate documents in a cost-effective way. While you DO NOT have to execute your estate planning documents at Wealth.com or with one of our estate attorneys (if that ends up being a better fit), we will make sure this important step is not ignored!   Let’s walk you through what this means and looks like. 

Most people know they need an estate plan, yet only 53% of survey respondents* have one. If we know estate planning is necessary, what prevents us from making one? * The State of Estate Planning Report, commissioned 2022

 Drucker Wealth's Estate Planning Solution

Drucker Wealth has partnered with wealth.com to provide our clients the ability to create legal estate documents, securely store files, and set up emergency access to your trusted contacts through an online platform 

Wealth.com is designed to be a streamlined platform that is easy to navigate and that allows you to create an estate plan in the convenience of your own home. No expensive retainer fees and endless consultations required. 

In fact, and as a result of our partnership, our ongoing wealth management clients have unlimited access to Wealth.com for no additional cost.

This also means you never have to worry about getting a bill when you need to update your estate plan years down the road.

About Wealth.com: 

Designed and built by experts in trust & estate law, Wealth provides a customized estate plan based on your unique circumstances and preferences. Wealth isn’t a one-size-fits-all document creation wizard like many other available options. It’s a financial technology platform that bridges the gap between the wealth you’re working hard to build today and your post-life legacy.

Estate Planning and Trust Services include:

Last Will & Testament

 Revocable Trust & Pourover Will

 Guardianship Nomination

 Advance Health Care Directive

Let's back up...what is Estate Planning?

Estate planning, to put it plainly, is simply recording your wishes for what happens if (and when) you're unable to manage your own affairs. Put another way, it is the process of ensuring that your financial affairs are managed and taken care of in the way that YOU want. 

A proper estate plan will ensure the following upon your demise:

1. Your family is provided for financially to the degree that you desire
2. Your assets are left to YOUR chosen beneficiaries (family, charity, friends etc.) in the most tax-efficient manner possible
3. You are in control of your own health and end-of-life planning to the greatest extent possible

Prior to our second planning check in (what we call our “Goals & Gathering” Meetings) our team will get to work gathering all of the relevant documents we need to complete our analysis (investment statements, tax returns, pay stub, 401k statement etc.) Naturally, we do the same in asking for your estate planning documents & insurance policies (if you have them).

We will help you understand what decisions you and your family must start thinking about (such as naming the relevant parties to serve specific roles, ie: who do you want to serve as beneficiaries, fiduciaries, executors of trusts, guardians for your kids if you were to pass etc.) as well as specifying what healthcare decisions you will need to make (healthcare proxy, a living will, health directives).

Then,  we will be able to access your Wealth.com portal together so you can go ahead and complete your estate plan...in real time! One less thing to "get to" next year! 

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