Can a financial advisor help with a will
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Yes, they can. But it depends on the state you live in. For example, in Florida, they cannot write your will or do probate work on your behalf. However, if you live in another state, they can also help you.
What are Financial Advisors?
First of all, what is a financial adviser? In this context it means someone who provides financial advice to clients. This includes advising them on investments (such as stocks and bonds), saving for retirement or saving for college or an emergency fund. They also provide tax advice and other types of financial planning to their clients.
It is important to note that financial advisors do not work for the federal government; rather, they are paid on commission by their customers (in the form of commissions on the products they sell). This means that the adviser must be impartial when providing financial advice to his clients. The FTC says, “An advisor’s compensation should be based solely on the performance of his clients.” In other words, if the advisor has a conflict of interest, they cannot give you unbiased advice.
They can help you plan and make financial suggestions
Financial advisors can help you with a will. They can also help with estate planning, such as: drafting a will and living trust; inherit property (either in the form of real estate or stocks and bonds); and/or prepare a beneficiary designation (to decide who will receive the assets upon your death).
Additionally, they can provide advice on other legal issues related to estate planning such as: asset protection trusts; creating and funding an IRA; and determine if you are liable to pay federal income taxes upon your death. A financial adviser may also be able to provide you with additional legal advice on these matters.
However, keep in mind that it is important that you consult a lawyer if you are unsure about any of these issues. The more your attorney knows about these issues, the better your chances of making sound decisions. A good place to start is to read our article on the basics of estate planning for all ages. Additionally, there are online resources for people who want to learn more about wills and estate planning.
Wills, trusts and estates are usually a family’s biggest financial asset. You want to make sure your wishes will be carried out when you die. You may have many assets and you may want to share them with your loved ones. But it’s not always easy to know what is best for the people who will inherit your property. A financial advisor can help you with this process and help ensure that assets are distributed in a way that makes sense for everyone involved.
If there’s one thing financial advisors can do well, it’s create estate plans and ensure they’re followed after death. A good advisor will consider all possibilities before developing an estate plan for their clients, but there are also some things they can do after the client’s death.
The financial advisor can even help with the probate process if necessary so that everything goes smoothly once your estate is distributed. This can be a great way to ensure that everyone who wants to participate in your legacy has been included in the process from start to finish, and it also ensures that everything goes as planned.
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