Broker Check

Take Steps Today to Manage Your Estate Tomorrow

In this ebook, you'll learn the critical elements of an estate strategy. Considering these crucial details may help an executor uphold your values, goals, and desires for your estate.

Thank you! Oops!
How Can A Financial Advisor Help With Estate Planning?

How Can A Financial Advisor Help With Estate Planning?

November 24, 2022

You should have prepared many documents by the time you reach retirement age – or any age, but especially at retirement age. These documents include your will and trust, your living will and power of attorney, and your advanced healthcare directive. The basic idea behind estate planning is to protect yourself, your family, and your loved ones from the legal complications that arise during your death or incapacitation.

How Estate Planning Services Work

Estate planning services help provide the legal documents and financial plans needed to secure your family's financial future. They work with you and your family to create an estate plan tailored to you and your unique needs, which includes various strategies.

There are many different strategies for estate planning, but some of the most common include wills, trusts, retirement accounts, life insurance policies, tax burdens, family members and bank accounts. The process of creating an estate plan can be complicated and require the assistance of an experienced financial advisor or an estate planning attorney.

Financial advisors can help design a financial plan around the challenges associated with retirement by evaluating your current finances and helping you make adjustments if needed. The goals of this financial plan will likely be related to retirement income, how much money will be required after retiring, and how much money should go into which types of investments.

Retirement account options, such as IRAs or 401(k) 's, may also come into play in this financial planning process. An estate planning attorney can also assist with drafting legal documents such as wills or trusts. These legal documents ensure that your wishes are followed after death while also taking care of any potential tax burdens on the inheritors of your property.

Who Is An Estate Planning Advisor

An estate planning advisor is a financial advisor or an estate planning attorney who has experience in helping people with the complex process of estate planning. An estate planner provides advice and counsel on what legal documents are necessary for your family members, including wills, trusts, and powers of attorney. They also help you plan for your financial future by determining which type of retirement accounts to set up and how much life insurance to purchase.

Financial planners can also offer advice on how best to manage your finances now so that you will be more prepared when you retire.

An estate planner's job is to help you achieve peace of mind and minimize the tax burden on you and those close to you after death. 

Financial advisors can assist you in estate plans through their understanding of financial planning, including retirement accounts and other investment vehicles.

It's essential for both parties - the financial advisor and estate planning attorney - to communicate throughout this process to determine what strategy will work best for you. Financial advisors should never give financial advice without speaking with a qualified tax professional about potential taxes due upon death.

What Is The Roles of A Financial Advisor In Estate Planning

Estate planning can seem daunting; it is difficult to figure out what should happen if something happens to you or when considering different scenarios, such as divorce. However, an experienced financial advisor could help you through these issues with the proper advice that best suits your situation.

For example, if there are children involved, then it's likely that both parents have rights regarding what happens to the property death-however, if there are no children involved, then this issue becomes moot.

A financial advisor can help you in estate planning by setting up your finances and estate plan with a qualified attorney. They will be able to help you make decisions about retirement accounts, financial future, financial planning, estate plans and tax burden. The financial advisor can also help you identify which family members will need to be contacted for legal documents and bank accounts.

A financial advisor is one way to reduce your tax burden because they can do things like balance your portfolio or review life insurance policies. It may take some time, but financial advisors can provide valuable insights on creating an effective estate plan.

How Professional Estate Planning Advice Can Make A Difference

There are different estate plans, including a will or trust, but the most important thing is to have one in place. A qualified professional's financial and estate planning advice can help you create an estate plan that meets your needs and protects your family from tax burdens.

A qualified financial advisor can give you strategies for minimizing the impact of taxes on your family members when distributing your assets, for example, by naming a beneficiary outside the United States or using foreign asset management companies as part of an international portfolio.

The financial advisor can also address any potential challenges before they arise, for instance, by creating investment documents such as life insurance policies or bank account documentation to provide for children or grandchildren if something happens to their parents (or other relatives). This type of financial planning helps ensure your legacy remains intact and fulfills the goals outlined in your estate plan.

How To Find A Professional Financial Advisor Near Me

There are many types of financial advisors, and the one best for you depends on your needs and budget. Once you have determined your needs, it's time to look for a professional.  

For instance, if you're looking for estate planning advice, then it's best to contact an estate planning attorney or financial advisor who specializes in this field. You might also want to speak with a tax professional about your tax burden and speak with a life insurance agent about how much life insurance coverage you should have if something happens to one of the family members who depend on your income.


It is a crucial time for estate planning as we are all getting older and will eventually have to hand over the reins to our loved ones. Financial advisors can help with the process by providing advice on retirement accounts, financial future, financial plan, legal documents, tax burden and family members. They can also help with estate plans and bank accounts. In addition, tax professionals are helpful when dealing with life insurance policies and tax issues.

Consider speaking to Diddel & Diddel financial advisors specializing in these areas if you want to know more about starting your estate plan.