Estate Planning is like a team sport. In these turbulent economic times, sometimes it may seem like you are going it all alone. However, you’ll find that bringing together a team of qualified professionals will bring you peace of mind as you work towards your goals.
Before doing anything else, you must first select the members of your team to help you achieve your goals. This team consists of the following professionals, depending on your goals:
- A Qualified Estate Planning Attorney. An estate planning attorney who focuses their practice in the area of estate planning is critical to helping guide you through the intricacies of the area. Whether you are just starting out in life or you are in your golden years, an estate planning attorney can help you make sure your assets are left to your heirs in the manner you desire.
- A Financial Planner. A good financial planner is important to make sure you are on track to achieve your retirement and other financial goals.
- An Accountant. A good accountant can help you navigate income tax issues and, if you have a business, can make sure the business adheres to accounting standards.
- An Insurance Agent. An insurance agent can help you select the right coverage for your needs to shift risks you cannot afford to bear yourself. Life insurance can be particularly useful in estate planning.
Your estate planning attorney can work with you to identify your goals. Once you have identified those goals, your estate planning attorney, working with the rest of your team, can build a game plan to get you to the finish line.
The hardest part is defeating inertia and picking up the phone. Once you take the first step, your estate planning attorney will help guide you through the process and may be able to make recommendations on selecting the rest of your team, if you haven’t yet done so.
Now is a great time to get started. The combination of low asset values and low interest rates makes for unprecedented opportunities in your estate planning. Your team is waiting for you to call the first play.
Mr. Ronald “Chip” Morrison, Jr. is a Board-Certified Specialist in Estate Planning and Administration by Louisiana Board of Legal Specialization and a member of the American Academy of Estate Planning Attorneys. He can prepare an estate plan for you that achieves your goals of passing your assets to whom you wish and the planning can even help minimize estate taxes. To learn more about how you can achieve your estate planning goals, please call our Metairie office at (504) 831-2348 or contact us through our website.
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