A vague understanding of your business’ financial situation makes it difficult to achieve financial security because you’ll always be one decision away from bankruptcy. Financial planning is the roadmap that shows you the right decisions to make in order to boost your business’ profitability. Your financial planner helps you factor financial consequences into every decision to ensure you don’t make one that will erase your hard work. Continue reading to learn why businesses should hire financial planners.…
An estate plan can be a document that will greatly reduce the stress that your survivors feel following your passing. However, many people will fail to implement an estate plan before they pass or they may make errors with this plan, and these situations may make it more difficult to pass your assets to your beneficiaries.
Ensure The Estate Plan Is Comprehensive
For your estate plan to be as effective as possible, it will need to be comprehensive.…
If you decide to seek help from a financial advisor, they will likely ask you to fill out a financial health questionnaire. This questionnaire asks a lot of questions about your financial state, and it is an important tool that advisors use to help their clients. Here is some information about what this questionnaire is, its purpose, and how an advisor uses it to help you.
The Basics of a Financial Health Questionnaire…
A living trust, also known as a revocable trust, is a written agreement where a trustee is appointed to manage any property put in trust for the guarantor. To avoid a financial disaster in the future, you should have a living trust. However, 6 in 10 adults do not have a living trust despite its importance. This means that their property is lost. When you have a living trust, all the assets will be transferred upon your death to the guarantor you have chosen.…
Birth and death are two inevitable life phases for anyone on earth. While many people allocate more time and resources to planning vacations and making investments, many forget to plan for their loved ones’ lives after they are gone. Estate planning might not sound as exciting as planning a trip abroad, but it goes a long way in ensuring stability and financial security for your family. If you haven’t decided who gets to inherit your assets or makes decisions when you are incapacitated, here are some reasons to start now.…
Many people seek help from financial advisors for retirement planning, but this is not the only reason to visit one. Advisors help with many financial situations by providing advice and strategies to improve your financial situation. If you want to buy a house soon, it might be helpful for you to visit with an advisor as they can help you plan for this major event. Here are several things an advisor might recommend as you prepare to buy a house.…