Financial Peace of Mind for the Future
Estate planning can go a long way towards establishing peace of mind when faced with the uncertainty of life and what the future holds. A thorough estate plan leaves no uncertainty as to how you want your health, investments, and business managed when you are no longer able to manage them yourself.
When your estate plan is complete, you will be confident that your affairs are in order and that your loved ones will clearly understand your wishes. Your estate planning team will help you evaluate all the components of your estate and help you establish the plans needed to provide for your own care (if needed), to care for your loved ones, and to transfer of your estate as you desire.
There are many factors to consider as you begin this journey. Forest Hills Financial Group (FHFG) advisors, working in concert with skilled estate planning attorneys and tax advisors, have helped clients make sense of a multitude of estate planning options for decades. We can work with your estate planning attorneys and CPAs, or we can tap into our extensive network of experienced professionals and help you find an attorney and/or tax advisor you can trust.
Your estate planning team has the knowledge and experience needed to help you evaluate your current situation and recommend the estate planning and trust instruments that will accomplish your goals.
Before starting a journey, it's essential to know where you are. It's the same with an estate plan. Your FHFG financial advisor offers some excellent tools to help you evaluate your current situation. Our "What is My Net Worth" calculator can help you get started.
It's natural to think that life will continue as it always has. Though we may not know the timing, we can confidently predict some changes that will occur. Life will end one day for all of us. After we are gone, loved ones will remain. The attorney on your estate planning team will prepare a written legal will that ensures your assets are distributed as you wish to family members, charitable institutions, etc.
Who will make decisions for you if you cannot make them yourself? A more important question is whether that person will make the decisions you would if you could. The attorney on your estate planning team can create powers of attorney (POAs) for your finances, business, and health to ensure that someone you trust will make the best decisions for you if you cannot.
While only large estates are subject to federal taxes, states have different tax laws. If you have a large estate, the tax burden could significantly decrease what remains for your loved ones. We can work with your tax advisor (or help you find one), to determine a tax efficiency strategy aimed at preserving your assets, then position these assets accordingly.
A trust is a legal vehicle that preserves your assets now or over time for future needs. Parents of young children or dependents with special needs can create a trust to set aside funds for their living expenses and education, protect the assets from misuse, and stipulate when the funds can be accessed. Another type of trust can set aside funds for charitable gifts or endowments.
Some individuals who prefer the details of their estate to remain private, may choose to use a living trust in place of a will. Disposing of assets via a living trust avoids the public probate process required by a will. To do so, the individual transfers all their assets into a living trust. The living trust must be signed before a notary.
Your estate planning team can discuss with you the different types of trusts and how estate planning and trust services can help you meet your goals. When a plan for trust creation is established, your estate planning attorney can prepare the necessary documents and your FHFG advisor can position your assets to best carry out the terms of the trust.
Life insurance can go a long way toward providing for your family when you can no longer do so. Long-term care insurance can enable us to afford the care we may need as we age. Life and long-term care insurance are important elements of an estate plan that can give you confidence that you and your family will be provided for, no matter what happens.
If you're looking for a financial advisor to explain your estate planning options, we’ve got you covered. For more than 41 years, FHFG has been helping people like you plan for their financial futures. Because we are an independent firm, you are the boss not a mega corporation or its shareholders. Our only goal is creating an estate plan that gives you financial peace of mind.
And, when it comes to choosing a financial advisor, you are in the driver’s seat. At FHFG, we believe the right client-advisor matchup starts with finding an advisor you relate to and trust. This kind of relationship tends to produce great results. That‘s why we encourage clients to complete our Financial Advisor questionnaire . Need an advisor who speaks Punjabi? No problem. Want to work with an expert on QTIP trusts? That’s fine.
Our team includes financial advisors fluent in 24 languages and from a multitude of backgrounds. Together, they have an incredible level of expertise in estate planning and trust services. Let us find the perfect independent financial advisor for you! You won’t be disappointed! Contact us today or call us at 212-687-8901 to get started.