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Expert Perspective

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e.Insight

Current Issue | September 14, 2017

Solidifying Your Basic Plan and Then Turning Your Focus to What Inspires You

By: Kara Talbott, CPA/PFS, CFP®, Family Office Technical Advisor


As the lazy days of summer come to an end, the restful vacation mindset often shifts, and fall can be a good time for goal-oriented thinking and more deliberate planning. It is a great time to review your current situation and reassess financial objectives. In this issue of e.Insight, we continue our theme of planning with a focus on reviewing estate and incapacity documents and considering charitable goals.

Reviewing estate and incapacity documents may well fall into the "I'd rather not deal with this" category. However, updating your plan to ensure that it aligns with your current goals is important not only for your peace of mind but also for your family and other significant individuals in your life. Our first article, "Ten Things to Get Right When Completing Your Estate Plan", provides a list of opportunities to enhance your plan, making sure it succeeds in meeting your goals.

The second article, "Establishing a Pathway for Philanthropy", examines philanthropic objectives and how to turn those objectives into a meaningful mission statement aligned with your values, interests and passions. Unlike some of the more tedious planning we have reviewed, charitable planning can be rewarding and energizing. Philanthropy can also provide a pathway for engaging younger generations in the family legacy while helping them identify their own interests.

Take time this fall to ensure your basic estate and incapacity plans are aligned with the goals you have for your family and are crafted in a way that will succeed in meeting those goals. Then, turn your focus to what inspires you and translate that into a mission statement framing your philanthropic objectives in a manner that will create a sustainable legacy for you and your family.