A financial plan analyzes an your and your family's situation- using current data and preparing forecasts- alongside your wishes and goals. It examines the feasibility of achieving your goals, identifies the risks that could obstruct their attainment, and offers the requisite solutions. Our financial planning services are designed to help you answer important questions such as:
Fee-only Financial Planners are registered investment advisors with a fiduciary responsibility to act in their clients' best interest. As fee-only planners, we do not accept any fees or compensation based on product sales. We believe fee-only planners have fewer inherent conflicts of interest and generally give more comprehensive advice. Our clients best interest is our focus. We do not require asset management as a prerequisite for our financial planning services. Our Financial Planning services include recommendations on areas such as:
Six Steps of Financial Planning
We have developed a relationship where our office can coordinate information to help provide you with an estate plan (including a revocable trust, will, financial power of attorney, medical power of attorney, and other documents) in a time-efficient and cost-effective manner. Your estate plan is then prepared and reviewed in less than a week by leading industry professionals (estate planners/attorneys) to give you a professional estate plan. BFP DOES NOT PROVIDE ANY LEGAL ADVICE REGARDING YOUR ESTATE PLAN.
If we believe your estate plan requires a more complex approach or you prefer to work with an estate attorney in-person, we can provide a list of estate attorneys to consider.
Already have an Estate Plan? No problem.
Even if you are in the minority of families that has completed their estate plan, this relationship can review your existing documents and provide a list of follow up questions to see if it is up to date. If you know that a number of things have changed, this system can do brand new documents for you while using your existing trust name and date (this prevents having to re-register assets already in the trust).
Who can use this system?
We estimate that approximately 75% of estate plans are appropriate for this system. If you are disinheriting children, feel like you have heirs that will litigate after your death, or have extremely unusual beneficiary needs, this system will NOT be for you. We can refer you to one of our local estate planning attorneys for these needs.
If you have a young and growing family and want to provide for your children in a responsible manner (spacing out distributions over time), this system is for you.
If you have put off doing your estate plan for YEARS because of cost, logistics in meeting with an attorney, or a simple lack of desire to talk about the inevitable, this system is for you.
The system can also handle situations where you may have a special needs child or a child who is not financially responsible.
The system will need to know the answers to five major questions: 1) Beneficiaries – Who is going to get everything?
2) Method of Distribution – How are the beneficiaries going to get everything (ages, no restrictions, etc.)?
3) Trustee/Executor/Power of Attorney – Who will make financial decisions for you if you cannot?
4) Health Care POA – Who will make health care decisions for you if you cannot?
5) Guardian (if necessary) – Who will have physical custody of minor children?