When Should You Start Financial Estate Planning?

Everyone can benefit from financial estate planning in El Paso. It is important to start planning as soon as possible. Whether you are just starting your career or are nearing retirement, you need to prepare for the future and start financial estate planning today. 

What do you want to leave behind for your family and friends? It’s an important question and one that the experts at Clifford, Ross, Raudenbush & Cooper, LLC can help you answer. We can help you get the most out of your wealth and leave a lasting legacy for the people that matter to you most.

Do you need guidance with your financial estate planning? Contact CRRC online or call (915) 593-3302 today.

What Is Financial Estate Planning?

Estate planning is the process of cataloging one’s assets and deciding what should happen to them upon death or incapacity. Estate planners typically catalog an individual’s wealth, specifying which assets are to be distributed to whomever they please – from loved ones to charities – and at which time. They also offer guidance in regard to a person’s children’s care.

Financial estate planning is a vital procedure that can be made simple with the assistance of an estate planner. Some of the benefits of estate planning include:

  • Reducing taxes
  • Protecting beneficiaries
  • Making sure you name an emergency guardian who can take care of your kids if something happens to you
  • Eliminating family squabbles

Why Is It Important To Start Early?

Many Financial Planners suggest starting an Estate Plan as soon as you turn 18, or when you become a legal adult. They recommend revising it every three to five years, since new responsibilities such as taking care of your finances, healthcare, and powers of attorney may arise. Although this may seem like the last thing on someone’s mind at 18 years old, this is important to think about now so there won’t be any surprises later in life when these responsibilities suddenly spring up.

It is important to be prepared with your estate planning. Making an estate plan helps ensure that your wishes are carried out after you’ve passed.

Even if you cannot afford a comprehensive estate plan now, it is important to create and update an original will, trust, power of attorney, and term life insurance when finances allow.

How Can Clifford, Ross, Raudenbush & Cooper, LLC Help With Financial Estate Planning?

Clifford, Ross, Raudenbush & Cooper, LLC is an accounting and tax firm in El Paso that wants to provide you with high-quality yet affordable services for all your needs. Our staff has the expertise and experience necessary to meet your every need – we love what we do!

Clifford, Ross, Raudenbush & Cooper, LLC has the expertise in financial estate planning to take care of your family’s needs so that you don’t have to worry about it any longer.  Contact CRRC online or call (915) 593-3302 today.