Life's Financial Transitions

Financial transitions are expected and unexpected events in life in which you and your family will encounter. Most times you can prepare for them but other times it can be disruptive and draining on the financial front. Financial planning allows you to navigate through these difficult times of emotion while facing impactful financial decisions. Most times people think financial planning is only upon the death of a loved one which includes the bequest of assets to heirs and the settlement of estate taxes. However, there is so much more to estate planning. Financial transitions come in many forms throughout one person’s lifetime. Preparing in advance will save you the time and expense when situations arise.

Getting Married

You found the love of your life — but what happens when assets need to be merged? We are here to suggest the best possible financial tools and conversations that need to be made in creating a cohesive financial future for both of you.

Starting a Family

You welcomed in a new child to your family. Now you have a whole new set of decisions to think about such as long-term financial needs. Should you carry life or disability insurance, save for college or update beneficiaries on your retirement account. Most importantly, you will need to create a will/trust should you have any assets or real estate.

Getting a Divorce

It is said that divorce is one of the hardest and most emotional events someone could possibly go through. We will help guide you through all the aspects of protecting yourself and settling any or all financial implications.

Getting Remarried and Blending Families

We are happy you found a new person in your life but what happens next? Blending families can be the number one cause for future financial problems. It is paramount to ensure a balance of assets, debt and inheritance early on so subsequent problems are avoidable. We can help you create a financial plan at the beginning to prevent family problems or arguments.

Approaching Retirement

The number one mistake most of our customers make is waiting to discuss plans for retirement. The best possible scenario is to plan early. Once retirement is approaching for you, we will help you device a plan to specify which accounts are the most tax efficient to withdraw from funds to cover living expenses. We will help you create a portfolio that provides both income strength and the growth for a healthy and comfortable retirement lifestyle.

Medical Diagnosis or a Death of a Loved One

Unexpected tragedy can strike at any time whether it is a medical diagnoses or sudden death. During these uncertain times, you and your family will be dealing with a lot of emotions and unknowns. We can help you prepare for sudden financial pressures. If it’s a death of a loved one, we can help you retitle assets, collect insurance benefits, file estate tax returns and assist in probate matters. Our mission is to guide you and help you create a new financial component that will ease you through these times.

Inheriting Wealth or Passing Wealth to Heirs

Inheriting wealth is not as easy as it seems. It is a life-changing event. Managing new wealth is imperative. We will assist you in the areas of taxation, budgeting, asset titling, liability payoffs, risk management and estate planning for both present and future. Should you want to leave assets to your kids, grandkids or favorite charity, planning ahead and appropriating all wishes in your estate planned documents in advance allows your family to grieve without disparity. We make sure all assets are titled correctly and communicated appropriately to your desired power of attorney.

Starting a Business

You have started the business of your dreams but now need help managing the financial aspects. What type of entity should you be? How do you pay taxes on your income? What type of retirement plan should you start? How do you track income and expenses? What types of insurances do you need? These are just a few questions you may have. We can guide you through this time of growth and provide you clarity to ensure your future goals.

At Estate Planning Consultants of Hawaii, we help assist you in planning for these inevitable moments while creating a tailored plan for the future. We determine your unique needs and map out the best scenario for you. We will be by your side throughout the implementation, financial planning, and strategic wealth management.