Estate Planning Help Heirs Reduce Confusion Wealth Distribution Transfer After Death Jacksonville FL

www.krierwealth.com

Crisis moments bring out the best and worst in people.

Most people view estate planning from the perspective of saving taxes resulting from wealth transfer at death. An equally important aspect of this is ´chaos reduction´. The reduction comes from having a well organized plan for the disposition of assets. When performing the planning, consider the animosity that might arise between your heirs as a result of leaving too many decisions up to them.

One of the reasons for this animosity is the fact that there are often heirs who have limited financial resources and who simply need the money ASAP. There also may be heirs who are okay financially, but who have differing views on how to handle financial assets.

Ways to "train" your heirs to understand your wishes for wealth transfer:

In addition to providing a clear roadmap though quality trusts and other documents, there are other more subtle steps that can be taken. Do an assessment of your children´s and other heirs´ financial wherewithal. Are they competent in financial matters; are they saving and investing on their own; are they frivolous spenders? Be realistic in your expectations. They are not going to change overnight to what you want them to be once they are handed an inheritance.

One of the greatest gifts you can give them is a financial education.

• Apply for adult education classes together.

• Discuss the issues of the day as they apply to savings and investments.

• Set up a joint account with them and manage it together.

• Create a simple charitable trust, fund it and manage it together.

• Have a family contest with a savings goal.

• Involve them in the planning process so they truly understand your wishes.

Wealth Management, Estate Planning, and Wealth Transfer are all very dynamic processes that benefit from the sound guidance a certified financial planner can give you. Death can be an uncomfortable topic for many families but wise planning long before the time comes can save relationships, tensions, and heartache.

Work with professionals who are trustworthy and takes the time to get to know you and listen to your goals. The financial consultants at Krier Wealth Management, in Jacksonville, Florida use a holistic approach to wealth management and financial planning. They get to know you and your priorities first, and help assess your risk factors. Ease the transition for your family and protect your legacy. For more information on retirement planning, investing, or Krier Wealth Management, please visit www.krierwealth.com or call 904-296-8138.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult a financial advisor prior to investing. Joe Krier is President of Krier Wealth Management, providing estate management services and investment advice as a Certified Financial Planner, and can be reached at 904-296-8138. Krier Wealth Management is a firm with financial consultants who may only discuss or transact business with the residents of AL, AR, CA, CO, CT, FL, GA, HI, IL, IN, LA, MD, MI, MO, MS, NC, NJ, NV, NY, OH, OR, PA, SC, TN, TX, VA, WA, and WI. Securities and Advisory Services offered through LPL Financial Member FINRA/SIPC.