Wealth management is a continuous process that that will last throughout your lifetime. The Advanced Planning Plan gives you a roadmap with specific steps that you need to follow to enhance, transfer and protect your wealth.
At Diversified Asset Management, Inc. we serve as your chief financial officer and we coordinate with your team of experts such as your accountant, attorney and insurance agent to assist you to completing the necessary steps of the Advanced Planning Plan.
The Advanced Planning Plan will consist of the following areas:
Wealth enhancement aims to produce the best possible investment returns consistent with your level of risk tolerance and to minimize the tax impact of your returns. We use a consultative process to identify your current financial situation and challenges, and then work with a team of experts to design solutions to help you achieve your most important goals. For example, we coordinate with your accountant to make sure your retirement plans, stock option and deferred comp plans are maximized. This is just one example of the aspects of your financial situation that we review. With our involvement, you will not have to worry about the overwhelming details of managing your wealth which will allow you to be able to enjoy your wealth now.
Wealth transfer intends to find and facilitate the most tax-efficient way to pass assets to succeeding generations, and to do so in a way that meets your wishes. We help you schedule an initial meeting with an attorney if desired and attend the initial meeting with you. We communicate with your attorney your wishes that were articulated in the discovery meeting. We complete the necessary paperwork to update your accounts to reflect your estate planning wishes such as beneficiary updates, establish trust accounts, and change account titles. In assisting you with this process and ensuring accuracy with your estate planning allows your wealth to be transferred accordingly, to provide for your family in the future and have fewer worries now.
Wealth protection is aimed at protecting your wealth against potential creditors, litigants, as well as protecting you against catastrophic loss. Some examples of potential topics we assist you with include reviewing your life insurance needs, disability insurance needs and other insurance needs such as umbrella policies. Ensuring your wealth and assets are protected provides safety and comfort for you and your family.
Charitable gifting helps fulfill your charitable goals and can often support efforts in each of the other three areas of your Advanced Planning Plan. In coordination with your attorney we can change beneficiaries as needed, set up donor advised funds or assist in any other areas that are needed to meet your charitable desires.
There are so many other decisions that can arise over a lifetime that someone needs help with such as:
Buying a car, getting married, having a baby, funding college educations, buying a house, losing a job, taking a new job, starting a business, getting divorced, caring for a loved one, losing a loved one, receiving an inheritance, planning for retirement, dealing with a financial panic, enjoying your retirement, funding a grand child’s education, planning for short and long term disability, surviving a critical illness, dealing with tax law changes and planning for your estate.
Most of these decisions arise during one’s lifetime and having someone to help answer these questions or point you in the right direction is very important for your financial well being. Finally, as your situation changes, your Advanced Planning Plan is modified and updated tasks to be completed so your family will be well taken care of now and in the future.
Diversified Asset Management, Inc.
1113 Spruce Street | Boulder, CO 80302
Phone 303.440.2906 | firstname.lastname@example.org