Legacy & estate planning
Legacy and Estate Planning, Coordinated With Your Retirement Plan
Your estate plan decides where everything you've built goes. Paul works alongside your estate attorney to make sure your accounts, beneficiaries, and retirement income plan all point in the same direction.
What does a financial advisor do in estate planning?
A financial advisor doesn't draft wills or trusts. That's your attorney's job. Instead, the advisor makes sure your financial accounts match your estate plan: beneficiary designations are current, accounts are titled correctly, your income plan protects a surviving spouse, and tax costs like the Massachusetts estate tax are planned for in advance.
What a well-coordinated plan does
- Transfers assets efficiently to the people and causes you choose
- Keeps beneficiary designations aligned with your will and trusts
- Helps avoid probate where appropriate
- Plans for estate taxes, including Massachusetts estate tax
- Provides for family members with special needs
- Names guardians for minor children or grandchildren, through your attorney
- Provides liquidity for taxes and final expenses
- Supports business succession, if you own a business
- Supports charitable goals, such as qualified charitable distributions from IRAs after 70½
How Paul helps
- 1
Review what you have
Accounts, titling, and every beneficiary designation.
- 2
Find the gaps
Outdated beneficiaries, accounts that would go through probate, or a surviving spouse left short on income.
- 3
Coordinate with your attorney
To put the right documents in place.
- 4
Keep it current
Review after marriages, deaths, births, moves, and tax-law changes.
Straight answers
Frequently asked questions
Yes. Everyone benefits from a will, health care proxy, durable power of attorney, and up-to-date beneficiaries. In Massachusetts, estates over $2 million may also owe state estate tax.
LPL Financial and its representatives do not provide tax or legal advice.