DELGALLO.com
Wealth Management Essentials – Retirement, Estate Planning & Property
Management, Most are Unprepared, Delay, and Need Help
By LEONARD J. DEL GALLO JR., M.S., MPASsm, CFP®
(www.DELGALLO.COM) Del Gallo Financial Services, LLC
Many families wait until retirement to actually begin financial planning and miss many opportunities through the years that could have improved their situation. The longer they wait to seek help the greater the impact, potentially, on their estate and net worth. Clients have many concerns that should be addressed as they prepare to update their retirement and estate planning. Do any family members have health issues where techniques should be examined while preparing an estate plan. Do any family members have academic and behavioral issues that should be considered in the estate plan to address both current and future problems that could arise. Planning may encompass many family issues which can be medical, legal, financial, or other problems that require both short and long term solutions. Family planning may involve extended family as well and can be more involved where there has been divorce and remarriage. Are there any charitable intentions which can be maximized with proper financial planning. A planner should provide guidance as to the proper titling of both current, purchased, and acquired property and the best way to name beneficiaries to achieve the goals within the estate planning. Property Management is often an overlooked aspect of financial planning because not all planners have the proper background to address these issues. Would the client like to discuss their tax-deferred retirement plans, the best way to distribute them, and whom to designate as beneficiary? Section 402 (c) of the IRS code details rollover options that are available for vested pensions and future pension rollovers for families as they prepare their estate. Updated laws, regulations, tax changes, and IRS code changes should always be reviewed so a plan stays current. Is your family unprepared and need help but do not know where to turn? Do you procrastinate due to the fact many of these topics are confusing or overwhelming? A financial plan and professional guidance is there to help you address the numerous issues and needs that may arise through the years and may be very important to those you love and care for.
Any questions please contact Del Gallo Financial Services, LLC by visiting our website at https://delgallo.com/. Del Gallo Financial Services, LLC can arrange an educational seminar or workshop for your organization’s members and/or employees. This research commentary is intended to educate families so they may gain an introduction to a difficult planning topic and is not intended for any other purpose. Articles created by Len Del Gallo Jr., may not be copied or used without written permission from Len Del Gallo Jr.. Del Gallo Financial Services, LLC and its’ representatives do not provide tax or legal advice. Please consult your tax advisor or attorney for guidance on such matters and before implementing any strategies and/or updates to your planning. Del Gallo Financial Services, LLC is a Registered Investment Advisor and Licensed Insurance Agency. Leonard Del Gallo Jr. is also a licensed Real Estate Agent with Broker Berkshire Hathaway HomeServices NE and this real estate relationship is not affiliated with Del Gallo Financial Services, LLC.
Works Cited
College for Financial Planning®. PFP 650: An Integrated Case Study. College
for FinancialPlanning®. “M.S. Personal Financial Planning Major.” 2011: 1-73.
Web. 3 Aug. 2012.
Madden, Robert. “Tax Planning for the Highly Compensated.” Sections 1.01,
1.02, 1.03, 2.01, 2.02, 2.03, 2.04, 2.05, 3.01, 3.02, 3.04, 3.07, 3.08,
4.01, 4.03. 2011. Estate Planning Library of RIA Checkpoint.
Thompson Reuters. Web. 23 Aug. 2012.
Madden, Robert. “Tax Planning for the Highly Compensated.” Sections 5.01,
5.02, 5.03, 5.04, 5.05, 5.06.2011. Estate Planning Library of RIA Checkpoint.
Thompson Reuters. Web.23 Aug. 2012.
Madden, Robert. “Tax Planning for the Highly Compensated.” Sections 6.01,
6.02, 6.03, 6.04, 7.05, 8.02, 10.02,10.03, 10.04, 10.05, 10.06, 11.02, 11.10.
13.02. 2011. Estate Planning Library of RIA Checkpoint.
Thompson Reuters. Web. 23 Aug. 2012.
Madden, Robert. “Tax Planning for the Highly Compensated.” Part III Estate
Planning. Chapter 3, 10 & 13.Overview of Taxation of Wealth Transfers.
Section 10.08. Power of Attorney. Estate PlanningLibrary of RIA Checkpoint.
Thompson Reuters. N.d. Web. 14 Nov. 2012.
Leonard J. Del Gallo Jr., Broker Associate in Connecticut & Florida
CT Managing Broker: Berkshire Hathaway HomeServices N.E. Properties
www.bhhsneproperties.com
Office: 172 West Main Street
Avon, Ct. 06001
Please see DELGALLO.com for disclosures. The aforementioned material is a product and service listing and is not intended to be an offer for the sale of securities, insurance, or real estate and is not intented to provide planning or investment advice. Securities are offered by prospectus only. There may be broker dealers, custodians, 3rd parties and their affiliates, investment advisers, and others who may offer the same services for the same fees, lower fees, higher fees, or no fees. Please review all disclosures, agreements, and documents.
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