Is it better to have a financial advisor for estate planning?

Posted by Elite Internet Technologies on November 2nd, 2016

Nobody has ever called estate planning simple. It’s not. Estate planning can be contentious, adversarial, and downright difficult, particularly when it comes to managing assets. Modern estate planning is now a virtual science.

To explain:

Estate planning isn’t just a simple matter of dividing assets. It’s actually a form of asset management. Asset valuations, viability of assets, and in some cases even the need to divest assets all form part of this mix.

Planning estate beneficiary interests is also potentially difficult. Put simply, the value of an asset may change considerably over time. The assets allocated to beneficiaries, therefore, may become unbalanced and a source of legal action.

Some assets are not viable, for various reasons. For example, a business may lose value over time, and it is therefore in the best interests of the estate to sell the business, rather than retain it as an ongoing loss. Selling the business, however, also changes the mix for estate beneficiaries.

These are extremely simple examples of the realities of the estate planning. The potential for problems is almost unlimited. You can see why it might be better to have an independent financial advisor helping with your estate planning.

The other reason for having a financial advisor on standby is that some of the risks in estate planning are equally problematic. Estate planning also includes an element of risk management, particularly in terms of protecting estate assets from losses. If the family home burns down, how do you manage the estate interests?

The other obvious question is how do you find a financial advisory service that can do everything you want for your estate? The short answer – Find a professional estate planning service, preferably one with financial advisory services as well.

A good example of this type of estate planning service is a company called Life Plan Financial Advisors Inc. They’re personal financial planners in Peachtree City, Atlanta. This company provides a complete range of financial advisory services, including estate planning.

To see how this type of company works, and also see a virtual template for the type of financial services you need for estate planning, visit their website here at
http://www.lifeplanfinancialadvisors.com/.