Blackburn Financial Group believes that thorough and complete estate planning takes three phases of life into account – before, during and after.
- Accumulation – this refers to the earning years of your life that come before the end-of-life phase. As this phase can span decades, it’s important to realize that in the context of building your estate, you must protect your assets and earnings while you are still accumulating them. You must begin making decisions regarding your wealth early to ensure you put yourself and your family in the best-possible financial position when the time comes.
- Retirement– The end-of-life phase can be unpredictable especially with regard to finances. You want to be prepared for your own care and that of your partner with regard to assisted living or nursing home stays, medical care and other related expenses. You also want to ensure that any dependents receive the support they need during this time, especially if those dependents need ongoing care of their own. Furthermore, you want to ensure that this phase of life doesn’t exhaust your resources, since your goals are to leave value for your family and other causes that are dear to you.
- After – Proper estate planning takes into account the challenges that come with transferring wealth and property to others after your passing. You need a plan that blends your unique financial circumstances today with the desired impact you want your estate to have in the future.
Through comprehensive estate planning with Blackburn Financial Group in Oklahoma City, you can build wealth and prepare detailed directives that will:
- Distribute your assets when, how and to whom you choose
- Minimize potential expenses and taxes
- Protect assets from creditors
- Eliminate delays and publicity by avoiding probate
- Provide charitable gifts to organizations
- Avoid legal and financial complications as well as family disputes
- Instill value in descendants / heirs
- Transfer business interests according to succession plan
Comprehensive legacy planning has other aspects that are related to your finances and other property, such as legal and accounting. For these areas, Blackburn Financial Group works closely with legal council and certified public accountants to help you make all the right decisions and get all the necessary documentation in place. Blackburn Financial Group will continue to work with you, making any necessary adjustments in your plan over the years to maximize your estate, but it’s always best to begin sooner rather than later.