Advanced Planning

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Advanced Planning: Thinking about the Future, Your Family, and Your Legacy

Advanced planning is comprised of how you plan to distribute your wealth after death. This includes estate planning, wealth transfers, and charitable giving.

Estate Planning and Wealth Transfer
Estate planning creates a master plan for the management of your property during life and the distribution of that property at death.

Wealth transfer planning involves the smooth transition and distribution of wealth according to your wishes. With proper estate planning, you decide to whom, how, and when your assets will be distributed, as well as who will manage your estate or business. Special issues you may deal with are providing financial security for others, planning for children of a previous marriage, equalizing inheritances fairly, and retiring from your business. Wealth transfer planning also involves the management of assets during disability or incapacity.

A major goal of estate planning is to minimize potential taxes without interfering with your other financial goals. If you give away wealth, during life or at death, you may incur federal—and possibly state—taxes. You can help protect the assets you transfer from excessive depletion by understanding these taxes and the various strategies you can use to minimize them.

It is an attorney who writes all of your estate planning documents. We will work closely with your attorney and tax advisor.

Charitable Giving
Charitable giving is motivated by both personal and tax incentives. Congress encourages charitable giving through tax legislation that can minimize your income and estate taxes. Charitable planning involves selecting the gifted property and charitable structure that will target your needs.

Our process does not end with estate planning but coordinates your estate plan with your overall plans for your business, investments, insurance, and employee benefits.

For most people, estate planning will:

  • Give you more control over your assets during your life
  • Provide care when you are disabled
  • Allow for the transfer of wealth to whom you want, when you want, at the lowest possible cost

Common estate planning issues addressed in the wealth management process include:

  • The transfer of wealth
  • The minimization of transfer taxes
  • Asset protection
  • Charitable giving

Commonwealth Financial Network® does not provide legal or tax advice. You should consult a legal or tax professional regarding your individual situation.

Our Services

Wealth Management Services 

  • Portfolio Analysis and Design
  • Asset Management and Allocation 
  • Investment Management 
  • Tax Planning 
  • Financial Planning 

Retirement Planning Services

Advanced Planning

  • Estate Planning
  • Transferring Wealth
  • Stock Option Planning and Analysis
  • Insurances
  • Long-Term Care Review 
  • Charitable Planning
  • Divorce Distributions