Financial Planning in California

As people grow older, they sometimes begin to create plans that allow them to prepare for their future and what will happen after they die. Life is unpredictable and can present many ups and downs. Sometimes, these events in life can affect an individual’s finances. Regardless of an individual’s financial state, it is always important to protect your finances in case of an unexpected life event. Financial planning allows individuals to do just that. The process helps people create a plan that arranges their finances in order to prepare for future events. With the assistance of a financial planner, people can feel relieved that their finances are secure for the future.

Types of Financial Planning

Finances are a very important part of life. That is why it is crucial to take care of these finances not just in the present, but for years to come as well. People should plan for the future of their finances in the event of any unexpected turns in life that may affect their situation. This can be done through a comprehensive financial plan that prepares for any future events. There are several different ways an individual may create a successful financial plan. Some services that are offered to individuals in the state of California are:

  • Charitable Planning: Some individuals wish to include gifts to charities, religious institutions, or schools within their estate plans. There are many tools to make this possible. This can include gifts, beneficiary designations, wills, trusts, life insurance policies, and retirement plans.
  • Estate Tax Planning: When people create plans for their loved ones, they do not want those beneficiaries to have to pay unnecessary taxes. While the state of California does not impose an estate tax, the federal government does. This service works to protect an individual’s finances to minimize federal tax obligations for the estate beneficiaries. Financial planners advise these individuals on their options to limit these taxes.
  • Divorce Planning: When an individual is preparing to divorce their spouse, it is important to take the necessary steps to protect themselves and their estate. There are several legal options available to do so. This can include creating a new will or trust, protecting marital assets, revising powers of attorney, preparing life insurance trusts, and other estate planning.

Contact our Firm

If you or someone you know is looking to create a plan for their finances and wish to speak with a skilled attorney, contact the Law Offices of Yacoba Ann Feldman today.

Working with an experienced estate planning attorney, such as Jaci Feldman of the Woodland Hills, California, Law Office of Yacoba Ann Feldman, will ensure that you are taken care of when you need it most.Contact The Law Offices of Yacoba Ann Feldman to schedule a consultation today.