Advanced Planning
The AKW Group and Baird Private Wealth Management know the importance of advanced planning. We have a lot of intellectual capital that can help with advanced planning. While we do not offer tax, accounting, or legal advice, we can often help the educational process and have an incredible network of outside professionals who work closely with us. We are always willing to engage and work with your attorney, accountant or another advisor that is important to you.
What Is Advanced Planning?
Advanced planning is the skillful leveraging of legal, regulatory, and financial expertise to enhance and safeguard an individual’s or a family’s net worth.
The objectives and benefits of advanced planning are hard to dispute. Without question, there are many ways to legitimately capitalize on the tax code and legal system to protect and sometimes enhance personal wealth. At the same time, in an increasingly litigious society, the wealthy are prime targets for unfounded, often silly, and malicious lawsuits.
Advanced planning offers an effective way to structure assets to discourage lawsuits and provide legal shelter from potential plaintiffs.
Wealth Enhancement
uses advanced planning strategies to mitigate taxes, resulting in greater personal wealth creation. A wide variety of strategies can be utilized to enhance wealth. The adept use of charitable trusts, for example, can be instrumental in enhancing wealth while also enabling the affluent to appreciably benefit others.
Elder Care Planning
is a holistic, elder-centered approach to the practice of law that helps families respond to every challenge caused by chronic illness or disability of an elderly loved one. Elder Care Planning aims to promote and maintain the good health, safety, well-being, and quality of life of elders and their families. It is vital to have a plan that allows elders and their families to access a wider variety of options for care and knowledgeable guidance from a team of compassionate advisors who help them make the right choices about every aspect of their loved one's well-being.
Estate Planning
is the process of legally structuring the future disposition of current and projected assets. Basic estate planning employing such strategies and financial products as credit-shelter trusts and traditional life insurance is relatively straightforward and sufficient for many of the affluent. For people with more complicated scenarios, there are a plethora of more sophisticated strategies, including grantor-retained annuity trusts and remainder purchase marital trusts.
Advanced planning is important depending on specific situations. They often work in tandem in the hands of a capable advanced planner.
