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Estate Planning in Frisco TX

Estate planning, at its core, is the creation of a plan to control what you own and ensure that it ends where you want it to go when you can no longer make those decisions. By completing an estate plan review, we offer various services like retirement planning and estate planning to help ensure that wishes outlined in a will or a trust are not circumvented by existing beneficiary designations or account titling.

Estate-Planning-services chart

What is an Estate in Retirement?

Estate planning is a key component of your retirement plan. An estate in retirement refers to the assets an individual has accumulated throughout their lifetime. This may include things like property, investments, and personal belongings. In retirement, an individual's estate may be used to provide income and support during their retirement years.

Estate planning is an important part of your retirement plan, as it allows individuals to create a plan for the management and distribution of their assets after they die. Estate planning can help ensure that loved ones are taken care of and that their wishes are fulfilled.

The Importance of Estate Planning

There are many reasons to create an estate plan. Here are a few good ones why you should make estate planning part of your retirement plan:

Beneficiary Designations

Retirement planning and estate planning require you to examine and update your beneficiaries on retirement programs, life insurance, and any pay-on-death designations. By creating your retirement plans and estate plans concurrently, you can make a crucial decision about beneficiary designations once and can apply them to both plans.

Position Yourself

Estate planning is vital when you die. It may also include a robust power of attorney and a healthcare proxy, two vital legal instruments that ensure your desires are carried out if you become temporarily or permanently incapacitated.

Position Beneficiaries

Without comprehensive estate planning, the courts are often tasked with deciding who gets your assets. This process can incur fees, take years, and become contentious. The courts will not instinctively rule that the surviving spouse or children receive all your assets. Designating your assets to a certain individual makes things so much easier for your family matters after your death.

Strive to Avoid Big Taxes

Estate planning mostly involves helping to properly position your loved one when you die, which includes sheltering them from the IRS. In addition, transferring assets to your heirs to help minimize their tax burden is important to estate planning. Even a little estate planning can help you save a significant portion.

What's the Difference Between Estate Planning and Retirement Planning?

Estate planning and retirement planning are two different things, although they can sometimes overlap. Estate planning is an undertaking that involves creating a plan for the management and distribution of your assets after you die. This typically involves establishing trusts, creating a will, and making other arrangements to ensure your wishes are fulfilled.

Retirement planning, on the other hand, is the process of planning for your financial confidence during your retirement years. This typically involves saving and investing for your future, as well as creating a plan for how you will receive income during retirement. While retirement planning and estate planning may have some common elements, they serve different purposes and address different concerns.

When Should I Hire an Estate Planner in Frisco?

There is no specific "right" time to hire an estate planner. However, it's generally a good idea to start creating an estate plan as soon as you have assets you want to strategically position and distribute after you die. This could include things like property, investments, and personal belongings. An estate planner can help you create an estate plan that considers your unique circumstances and goals. As your situation changes in life, they can adapt the estate plan.

Keep in mind that estate planning is not just for the wealthy. It is important for anyone who wants to ensure that their assets and property are distributed according to their wishes after they pass away.

Our Estate Planning Process

Our Estate Planning Process Includes the following:

● Assist with the full estate plan review with coordination with the legal attorney
● Retirement planning and estate planning integration analysis
● Tactical cash flow and goals implementation
● Ongoing asset preservation and risk assessment

Whether you are looking to retire in the next five years or have already retired, your estate plan should be familiar with retirement planning and estate planning and how they
integrate. Our process maps out a long-term plan considering all estate planning retirement goals.

Do you want to know more about your retirement and estate planning opportunities?


Click here to receive your Complimentary Assessment.

While we are familiar with the tax provisions of the issues presented herein, as Financial Advisors, we are not qualified to render advice on tax or legal matters. You should discuss tax or legal matters with the appropriate professional.

The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee that it is accurate or complete, it is not a statement of all available data necessary for making an investment decision, and it does not constitute a recommendation. Any opinions are those of Andrew Creme and not necessarily those of Raymond James. Every investor's situation is unique and you should consider your investment goals, risk tolerance and time horizon before making any investment. Prior to making an investment decision, please consult with your financial advisor about your individual situation.

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