Help Ensure Your Wishes Are Clearly Understood
Estate planning is about more than determining who receives your assets. It can help protect the people you care about, document important decisions and coordinate your financial resources with your long-term wishes.
EFC Wealth Management provides estate-planning coordination by helping you organize relevant financial information, review beneficiary arrangements and work alongside your qualified estate-planning attorney.
EFC does not provide legal advice or prepare legal documents. Estate-planning decisions should be reviewed with a qualified attorney.
Is Your Estate Plan Connected to Your Financial Life?
Creating a will or trust is an important step, but your financial accounts, insurance policies and beneficiary designations must also be properly coordinated.
- Are my beneficiaries current?
- Do my account titles reflect my estate-planning intentions?
- Have I documented who may make financial or healthcare decisions for me?
- Does my life insurance still reflect my family’s needs?
- Have major life changes been included in my estate plan?
- Does my family know where important information is located?
- Have I discussed my charitable or legacy goals?
- When was my estate plan last reviewed?
A coordinated review may help identify areas that require attention from your attorney or another qualified professional.
Important Parts of Estate-Planning Coordination
Beneficiary Review
Retirement accounts, insurance policies and certain financial accounts may transfer according to beneficiary designations. We help you review these designations and determine whether they appear consistent with your stated goals.
Beneficiary rules vary by account type and applicable law. Changes should be made only after appropriate legal and tax review.
Account Ownership
The way an account or asset is titled may affect how it is managed or transferred. We can help organize account-ownership information for discussion with your estate-planning attorney.
Insurance Review
Life insurance may play a role in supporting family members, providing liquidity or addressing specific legacy objectives. We help evaluate existing coverage within your broader financial strategy.
Insurance benefits, costs and availability vary. Guarantees are subject to the financial strength and claims-paying ability of the issuing insurance company.
Incapacity Preparation
An estate plan may include documents that authorize trusted individuals to make financial or healthcare decisions if you become unable to act independently.
Your attorney can advise you regarding wills, trusts, powers of attorney and advance healthcare directives.
Charitable Giving
If charitable giving is part of your legacy, different strategies may have different financial, legal and tax implications. We can help incorporate your charitable priorities into broader planning discussions.
Family and Legacy Goals
An effective estate plan should reflect both financial assets and personal priorities. This may include providing for loved ones, supporting future generations or preparing heirs for financial responsibilities.
Life Events That May Require a Review
Consider reviewing your estate plan after:
- Marriage or divorce
- Birth or adoption of a child
- Death of a spouse or beneficiary
- Retirement
- Receiving an inheritance
- Selling a business
- Moving to another state
- A significant health change
- A substantial change in assets
- Changes in tax or estate laws
Even without a major event, periodic reviews may help ensure your plan continues to reflect your wishes.
How EFC Supports the Process
Organize: We help identify relevant accounts, insurance policies and beneficiary arrangements.
Clarify: We discuss your family, charitable and legacy priorities.
Coordinate: We collaborate with your attorney and tax professional when appropriate.
Align: We help connect your financial strategy with your completed estate plan.
Review: We periodically revisit relevant financial information as your circumstances change.
EFC’s role is limited to financial planning and coordination. Legal documents must be prepared and reviewed by a qualified attorney.
Create a Legacy with Greater Intention
Your estate plan should reflect what matters to you and provide clear direction for the people you trust.
Ready to discuss how your financial strategy connects with your legacy?