There are certain estate planning documents every person should have. As a part of the financial plan, we review any estate planning documents you already have and offer our recommendations for making sure at least a basic estate plan is in place. Then depending upon the projected size of the estate, we will offer additional recommendations for minimizing any potential estate tax. If necessary, we will refer the client to a local estate planning attorney to draft any new documents..

The first step in our financial planning process is to make sure we identify and understand each client’s unique financial goals. These can be large or small; near-term, or long-term. Once this has been accomplished, we then work with the client to develop a funding plan to accomplish each stated objective, and in a sequence of prioritization that fits within the larger wealth plan for that particular client.  Clients can expect these conversations to be comprehensive in nature, including consideration of how prioritizing one goal can affect the timing of accomplishing other goals. As goals are accomplished, our professionals will work to identify and prioritize the next set of goals in an ongoing process to help each client achieve their definition of financial success.

For most clients, retirement planning is the core of their financial plan. The key question we attempt to answer is: When can the client retire, and how much income will their investments provide them at that time, while still being reasonably assured that their savings will last throughout their retirement? As a part of the retirement analysis, we consider all retirement savings and investment accounts, company pension plans, and social security as sources that can be used to meet the client’s income needs. We further consider a moderate rate of inflation and a conservative rate of annual return on the client’s assets to arrive at the answer. Based upon the assumptions we have made in conjunction with the client, we will then work to fine-tune the retirement analysis and make adjustments to (if necessary) arrive at the intersection between what is desired and what provides a reasonable probability of success.

Planning for a child or grandchild’s college education is an important part of many families’ financial plan. Unfortunately, most families don’t save enough, or start saving too late to be able to fully pay for a four year education. This analysis considers such factors as: the increasing cost of public and private education, general economic inflation, and the age of the child. The result provides the client with specific amounts to save on a monthly, annual, or lump-sum basis for the child’s education, assuming a conservative annual return. Marquis also consults on the various tax-advantaged options available for education savings, including: Education IRAs, State 529 plans, and UTMA/UGMA accounts.

This analysis is an overview of your total assets (liquid & non-liquid) and your total liabilities. The difference is your Net Worth. This analysis provides you with information similar to a balance sheet and is helpful in determining how “liquid” your net worth is in case of emergency, including: Education IRAs, State 529 plans, and UTMA/UGMA accounts.