What advisors should be involved in your estate planning process? As a business owner, the list of advisors who need to have insight into your estate plan is a little longer than average, and it doesn’t just mean your accountant, and your lawyer. It’s also crucial to get alternate opinions about your plan so you can see different perspectives.
Video Transcript: What advisors should be involved in your estate planning process
Who should be involved in the estate planning process?
I’m George Dube, saving the world through tax one bow tie at a time.
Creating the estate planning process and results is not something isolated to one team member.
It’s not just an accountant involved. It’s not just a lawyer involved.
For different situations, there may be:
- accountant
- lawyer
- financial advisors
- insurance advisors
- a business coach
- key business managers
- a real estate property manager or team
Have a quarterback advisor for your estate planning
There can be an assortment of people involved in the process beyond the family that are all critical to the process. But in many cases I find, what will serve everyone best is having one person as quarterback to the process, who’s taken the lead from the family to ensure that everything gets done based on the family’s desires.
Look for contrary opinions from advisors when estate planning
In creating your estate plan, don’t just look for people that are going to agree with you. Look for some contrary opinions, some new ideas. You don’t have to accept them, but from the various ideas that you receive, now you can accumulate and decide what’s right for you and your family.
If you want to learn more about this topic, please check out our estate planning playlist, and please go to our website, georgeedube.com.
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Resources
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Remember – circumstances are unique! This information is summary in nature. Seek out advice from your tax advisor about your specific situation.
