Will a Financial Advisor Help Me with My Will and Estate?

Our financial advisors help you organize your will, making the estate planning process a smooth one.

Yes, the financial advisors at Googins Advisors help clients organize their estates so they pass quickly and smoothly to intended beneficiaries. It is a common misconception that a will is all one needs. If you are accumulating your first one million dollars of assets, careful attention to how accounts are registered and beneficiaries updated is more important.

A will is frequently a "mop-up" for the remaining assets such as personal effects; it is not the best vehicle to address tax consequences for beneficiaries or to transfer assets quickly.

You are listing the beneficiary of your account when you register with a joint owner, a tenant in common, or a TOD or POD. (Transfer or Pay on Death to named person or people.) You are also listing beneficiaries when answering that question on applications for retirement accounts and insurance policies. Googins Advisors helps clients understand those designations and possible tax implications for beneficiaries. Do not leave those items unanswered.

For many people, the following may be sufficient for an estate plan:

  • a "mop up" will
  • account registrations carefully titled (house, car, investments ... )
  • beneficiaries listed and updated when changes occur
  • power of attorney for health care and end-of-life instructions
  • power of attorney for financial matters

Obviously, an attorney and accountant will need to be employed at various times, but people can keep their estates uncomplicated and easier to transfer to loved ones by using the items listed above. The advisors at GA consider educating clients on these matters of prime importance.


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