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Financial Planning Basics

Financial Planning Basics

| January 18, 2024

Make sure your Financial Planning Toolkit includes:

  • Advance health care directive. Also known as a “living will,” it allows for the appointment of an individual who will make health care decisions for them in the event they can’t speak for themselves. This document also details end-of-life wishes.
  • Will/living trust. These documents dictate how assets are disposed of upon death and who manages that process (i.e., the executor or trustee).
  • Financial power of attorney. This document designates the person who will handle financial matters if you are unable to do so.
  • Beneficiary designations for retirement accounts and insurance. Retirement assets and insurance policies are generally distributed according to their designated beneficiaries, not the terms of a will or living trust. Make sure to review and update beneficiary information on those accounts.

Whether you need help planning, investing, or identifying potential retirement gaps or just want to talk about your options, you can meet with one of our financial advisors at no cost.

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