Financial Planning Insights
1 minute read time
What is an estate plan? For some, it is a collection of documents that answers a distribution question: Who do I want to get what and when? For others, it is a plan of authority: Who will make the decisions for me and those I care about when I cannot? Those assumptions are not wrong, but they may be incomplete.
A great estate plan should tell your story; the story you want told if you’re not around to tell it. Your story communicates who you care about, what you care about and what you believe. It is unique to you.
How do beliefs translate into an estate plan? If you believe people are happiest when they accomplish great things for themselves, your wealth could be used to encourage accomplishment. That may mean incenting hard work or meaningful social impact. If you believe happiness comes from helping those less fortunate, the plan could incent loved ones to engage in philanthropy or volunteerism. If you want to help the people you care about, the plan could be designed to remove economic burdens like retirement savings, education savings or major purchases. And if you believe in memorable experiences, the plan can allow for extraordinary family vacations. Like your story, your estate plan is unique to you.
What do you believe and who do you care about? Does your estate plan tell that story? Do you have the right plan? Do you have the right team?
We would love to hear your story. Connect with an advisor today.
This information is for educational and illustrative purposes only and should not be used or construed as financial advice, an offer to sell, a solicitation, an offer to buy or a recommendation for any security. Opinions expressed herein are as of the date of this report and do not necessarily represent the views of Johnson Financial Group and/or its affiliates. Johnson Financial Group and/or its affiliates may issue reports or have opinions that are inconsistent with this report. Johnson Financial Group and/or its affiliates do not warrant the accuracy or completeness of information contained herein. Such information is subject to change without notice and is not intended to influence your investment decisions. Johnson Financial Group and/or its affiliates do not provide legal or tax advice to clients. You should review your particular circumstances with your independent legal and tax advisors. Whether any planned tax result is realized by you depends on the specific facts of your own situation at the time your taxes are prepared. Past performance is no guarantee of future results. All performance data, while deemed obtained from reliable sources, are not guaranteed for accuracy. Not for use as a primary basis of investment decisions. Not to be construed to meet the needs of any particular investor. Asset allocation and diversification do not assure or guarantee better performance and cannot eliminate the risk of investment losses. Certain investments, like real estate, equity investments and fixed income securities, carry a certain degree of risk and may not be suitable for all investors. An investor could lose all or a substantial amount of his or her investment. Johnson Financial Group is the parent company of Johnson Bank and Johnson Wealth Inc. NOT FDIC INSURED * NO BANK GUARANTEE * MAY LOSE VALUE