Estate Preservation - Education Funding - Tax Strategies
Estate preservation is not just for heirs and it's not just for the wealthy. It's important for everyone who depends on their assets for income or financial security.
One of the most obvious ways to preserve and protect your estate is to have a prudent insurance plan to protect your assets from financial catastrophes.
Another strategy is to avoid unnecessary taxes and large investment losses. We suggest taking no more risk than necessary to accomplish your goals. Chasing higher investment returns often leads to disaster.
And of course a carefully designed estate plan is very important. For that job we recommend that you consult an attorney who specializes in estate planning.
Education funding is a major expense and a high priority goal for many parents. And since most families have limited resources it often competes with retirement planning. Some families may believe it is impossible to help their kids through college and prepare for retirement at the same time.
It’s difficult to do both, but it’s not impossible, and we believe that it is unwise to put retirement on the back burner until the education funding is completed. Time is not on your side, and the longer you wait to begin saving for retirement, the less likely it is that you will succeed.
There are many ways to legally reduce taxes but you may not learn about all of them from your tax preparer. A good CPA or tax preparer won’t let you miss many deductions or credits, and they will probably explain the benefits of IRAs and other tax-deferred retirement plan. But they may not help you manage your routine financial transactions so as to minimize taxes.
We don't prepare tax returns but we do offer certain products and strategies that could help you protect your income and assets from unnecessary taxation.