CPA financial planner Lori Pajunen Luck, CPA/PFS, describes her journey to focus more intentionally on financial planning, why it was the best business decision she ever made, and how CPAs can get support and resources to expand their practices in this critical area of service.
Whether they practice it or not, most Americans are aware of the need for retirement planning. But what happens once people actually retire? Enter elder planning, which aims to help people plan for ways life might change once they have retired. Retirees must prepare for needs related to long-term care, health insurance, investment strategies and end-of-life care.
All of the careful planning and drafting of trust and estate documents can come to naught if family members can't find the documents, according to this article. Advisers should be prepared to help clients deal with the practical aspects of what will happen when they die. The article recommends making a checklist with information such as contact numbers for advisers as well as a summary of assets and documents and their locations, and providing for digital estate planning. The CPA's Guide to Financial and Estate Planning offers more in-depth guidance as you plan for your clients.