Planning for the future is essential to securing your legacy and ensuring your loved ones are well taken care of. While we often focus on growing our wealth and managing our finances, estate planning is an aspect that should not be overlooked.

Estate planning involves meticulously organizing your financial affairs, specifying your wishes for asset distribution, and minimizing potential tax liabilities. It’s about leaving a lasting legacy that reflects your values. It’s more than just drafting a will or creating a trust; it’s about crafting a comprehensive strategy to protect your assets and provide for your family’s future.

Due to its complex process, it is always advisable to hire the services of a financial advisor to help you craft an estate plan without any issues. With professional guidance, you can avoid pitfalls that may cost your family a lot otherwise. One such advisor, Derek Pesta, is offering a suite of tailored services regarding estate planning.

But before we discuss that, let’s explore some important aspects of estate planning that anyone owning some properties should keep in mind.

Beneficiary Reviews: A Key Component

One often overlooked aspect of estate planning is beneficiary designations. It’s common for individuals to forget to update beneficiary information on life insurance policies, retirement accounts, or investment accounts. Failing to do so can lead to unintended consequences and disputes among heirs.

Creating a Will: Ensuring Your Wishes Are Honored

Drafting a will or establishing a trust is fundamental to estate planning. It allows you to clearly outline your wishes regarding the distribution of your assets, the care of minor children, and even funeral arrangements. It is also important to understand that a will is a legal document. That’s why you must be very clear on the terms and conditions you mention.

Regular Updates and Reviews: Adapting to Life’s Changes

Life is dynamic, and circumstances can change in an instant. This is why estate planning should not be a one-time process. Regular reviews of estate plans must be conducted to ensure they remain up-to-date. It also keeps them aligned with any changes in financial situation or family dynamics.

The Need for A Trusted Financial Advisor: Derek Pesta’s Example

Estate planning is not all about just legal argon required to entrust your property. It has a proper financial background as well. Tax liabilities, insurance, and debts need to be taken into account as well. Some financial language can be confusing, so seeking a finance professional for guidance can be helpful.

A CERTIFIED FINANCIAL PLANNER™ professional, Derek Pestaunderstands that while estate planning is crucial, many people don’t know how to do it. Others hesitate to take the first step, considering how challenging it can be.

He aims to guide his clients through the intricacies of estate planning, ensuring that every essential detail is addressed. At his firm, Pesta&Pesta Wealth Management, he claims to educate and involve clients throughout the process, simplifying it for them to understand.

Besides the technicalities, he believes in creating estate plans that genuinely reflect his clients’ wishes and prioritize the well-being of their loved ones. To that end, he claims to adopt a holistic approach that caters to the client’s values and goals.

Ultimately, as you contemplate the legacy you wish to leave behind and the security of your loved ones, consider reaching out to a professional ready to explain everything to you in detail while considering your aspirations.

You can learn about how Derek can help you with estate planning here.

Investment Advisory services are offered through CWM, LLC an SEC Registered Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.