Estate Planners Near Me: What Do They Do – PillarWM

Thinking of hiring an estate planner is the best way to go? Estate planning can undoubtedly be a frustrating and confusing task, particularly if you are an ultra-wealthy individual with a net worth of millions. Proper estate planning doesn’t just require you to know complex concepts but also to keep yourself updated with the ongoing changes occurring in the industry. If you have $5 million to $500 million worth of liquid assets and are wondering, who are the best estate planners near me, we highly recommend you seek assistance from Pillar Wealth Management. Doing so will help ensure that your wealth goes into the hands of the right people following your demise. You can learn some essential strategies for wealth managementin our ultimate guide for investors with $10 million or more.

STRATEGIES FOR FAMILIES WORTH $5 MILLION TO $500 MILLION

 

7 Secrets To High Net Worth Investment Management, Estate, Tax and Financial Planning

 

The insights you’ll discover from our published book will help you integrate a variety of wealth management tools with financial planning, providing guidance for your future security alongside complex financial strategies, so your human and financial capital will both flourish.

Clients frequently share with us how the knowledge gained from this book helped provide them tremendous clarity, shattering industry-pitched ideologies, while offering insight and direction in making such important financial decisions.

In addition, you can even directly speak to our team at Pillar Wealth Management to know more about estate planning for high net worth and ultra-high net worth individuals. We have plenty of experience working with wealthy clients who have $5 million to $500 million worth of investable assets and can create a tailored estate plan for you!

What Is an Estate Planner?

You might have come across the term “estate planner” and wondered, “what is an estate planner?”

You might have thought that this an individual who deals with planning real estate purchases. Well, this is really not who an estate planner is.

The truth is that an estate planner is a professional who offers a range of services related to preparing the distribution of wealth and assets after a person’s demise. Their services might include

• Distributing assets and wealth to beneficiaries

• Distributing wealth to charitable organizations

• Settling estate tax

These services are usually offered with the help of a financial advisor. Nevertheless, a competent wealth manager can also provide estate planning services as part of a comprehensive wealth management plan. But before we move forward, we recommend you read our hardcover book The Art of Protecting Ultra-High Net Worth Portfolios and Estates – Strategies For Families Worth $25 Million To $500 Million to get a detailed insight into estate planning.

estate planners near me

Who Needs an Estate Planner?

By now, you might be wondering who needs an estate planner. After all, you can find all the information related to estate planning on the internet. While this might be true, there are several people who need to hire an estate planner. So, without further ado, here is a list of people who need an estate planner.

People Who Want to Plan for Their Own Needs

Many people believe that estate planning is something they need after they die. However, they fail to realize that having an estate plan can secure them and their wealth in case they get incapacitated or lose the ability to decide for themselves.

After calculating your cash flow requirements leading up to retirement and beyond, an estate planner will consider what insurance you might need if you’re unable to provide for yourself. Moreover, they might even appoint a healthcare proxy who can make financial and medical decisions on your behalf if needed.

Discussing your requirements with an estate planner can help ensure that your needs and wishes are fulfilled if you’re not able to speak for yourself.

People Who Want to Minimize Transfer Taxes

Being a high net worth or an ultra-high net worth individual, you will have collected a significant amount of wealth and might wish to transfer it to other people or organizations after your death. An estate planner can assist you in developing an approach that will allow you to transfer your wealth as tax-efficiently as possible.

An estate planner will consider three kinds of taxes when transferring your assets and wealth. These include the gift tax, estate tax, and transfer tax. Because the IRS has imposed restrictions regarding how much money you can transfer and to whom without getting taxed, a comprehensive estate plan includes a wealth transfer strategy that aims to lower the tax burden on you or your beneficiaries. Read our guide Improving Portfolio Performance and learn how our team at Pillar Wealth Management can make your estate plan process go smoothly while minimizing taxes you need to pay.

People Who to Safeguard their Assets

Another category of people who need an estate planner is individualswho want to secure their assets. As a high net worth or an ultra-high net worth individual, your assets can be threatened in several ways during your lifetime.

As you keep growing wealthier, you become vulnerable to various lawsuits that aim to take over your hard-earned wealth. In fact, once you know or suspect that a lawsuit is emerging, it’s already too late to develop a plan that will secure your assets.

So, if, like all other people, you want to preserve your wealth and assets, you need an estate planner who will use strategies to secure your assets and wealth. For instance, an estate planner might remove your name from your assets and keep them in legally-secured vehicles, such as limited liability entities or trusts. Moreover, certain kinds of insurance can also secure you against a range of legal obstacles. Read our guide 5 Critical Shifts for Maximizing Portfolio Growth Strategies and learn the shifts you need to make to protect all your assets.

When Should You Hire an Estate Planner?

By now, we are confident that you are convinced to hire an estate planner, but you might be thinking about when is the best time to take this step. Ideally, you should hire an estate planner as early as possible. After all, no one can foresee when a potentially debilitating or life-threatening event is going to happen. The COVID-19 pandemic is a perfect example of how unpredictable life can be.

Generally, estate planners can create comprehensive estate plans in as little as five to six weeks. Being an affluent individual, you need to plan this as early as possible so that you stay safe if something unexpected happens.

Why You Can Hire Wealth Managers to Provide Estate Planning Services

As discussed above, the duties of an estate planner can be performed by an experienced wealth manager. So, should you pick a wealth manager over an estate planner to fulfill your estate planning needs? A wealth manager offers all the benefits that an estate planner provides, along with some additional ones. These benefits include:

Various Other Services

A wealth manager usually offers more services than an estate planner who simply offers estate planning services. At Pillar Wealth Management, we provide services such as:

• Asset Allocation Analysis

• Estate Planning

• Insurance Planning

• Retirement Planning

• Risk Management

• Tax Planning

All of these services can be extremely useful for people with $5 million to $500 million in liquid assets. Tax planning and retirement planning are equally crucial to wealth management, as is estate planning. Availing these services can allow you to manage your wealth better. For more information on how you can make better investment choices, read our helpful guide for investors worth $10 million and above.

Comprehensively Understand Your Needs

A significant difference between a wealth manager and an estate planner is that wealth managers usually work with only high net worth or ultra-high net worth individuals. This makes them better suited for managing the requirements and needs of affluent individuals.

A wealth manager has in-depth knowledge of the wealth-building strategies that ultra-wealthy individuals generally use and can guide them in achieving their financial goals.

Last Few Words

With a combined experience of over sixty years, Pillar Wealth Management is known for providing exceptional wealth management services. We offer exclusive services to individuals who have liquid assets worth $5 million to $500 million to help them achieve their financial goals and reach financial serenity.

To get estate planning and wealth management-related advice from our team of experts, sign up for a free meeting with us.

Authors

To be 100% transparent, we published this page to help filter through the mass influx of prospects, who come to us through our website and referrals, to gain only a handful of the right types of new clients who wish to engage us.

We enjoy working with high net worth and ultra-high net worth investors and families who want what we call financial serenity – the feeling that comes when you know your finances and the lifestyle you desire have been secured for life, and that you don’t have to do any of the work to manage and maintain it because you hired a trusted advisor to take care of everything.

You see, our goal is to only accept 17 new clients this year. Clients who have from $5 million to $500 million in liquid investable assets to entrust us with on a 100% fee basis. No commissions and no products for sale.

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