Your Estate Plan and Retirement

estate planning

The Need for Estate Attorneys to Work with Financial Advisors

For many people, Estate planning and retirement planning are two very different things. On the surface it makes sense, one is about what happens to your money after you pass and the other is about spending your money after you stop working. Also, you seek counsel from different people: an attorney and a financial advisor. However, your retirement plan is really part of your estate plan. How you live in retirement can greatly affect how your estate plan works and vice versa.

When I talk to a client about their estate plan they think about what happens after they pass, what legacy they may want to leave behind. It is at this point I then say, “OK, now how do you want to live?” It seems like an odd question from an estate attorney. Not really ‘my area’– the living part. But it is. Enjoying life is always at the forefront of my mind, no matter the area of law I practice. Your estate plan is not independent of your current plan or your retirement plan. Your approach should be holistic and getting your financial advisor and estate attorney together is important.

There are very practical reasons for your estate attorney and financial advisor to work together, such as account titling, how to handle maturing assets, dealing with cost basis issues, and gifting. I spent four years at a financial institution talking about cost basis and transferring of assets and asking the question, “how does this fit in the big picture” was always important. It is key for both sides to make decisions for the now and the future.

As you try to “put the pieces together”, you are assembling members of a team, it only makes sense that they are working with the same information and for the same goal. Your financial advisor and estate attorney will give you a better result if they are working together.

If you are a financial advisor in High Point, Greensboro, Summerfield, or Jamestown interested in more information about my approach to estate planning, feel free to reach out at 336-333-7907.

Revolution Law Group is located in Greensboro, NC serving individuals and small businesses throughout the Triad and surrounding areas. To contact us please visit or call 336-333-7907.

The information included here is for informational purposes only, is not exhaustive of all considerations when creating documents, is not intended to be legal advice and should not be relied upon for that purpose. We strongly recommend you consult with an attorney and do not attempt to create your own documents.