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The Importance of Wealth Management Planning

The Value of Planning Wealth Management

Although it is also a top priority to prepare for a stable financial future, many people underestimate the value of estate planning, readiness and other long-term wealth management components. In fact, without a will, six out of 10 individuals pass away. Sadly, individuals and families will lose significant portions of their estate to taxes and fees without adequate wealth management preparation.

What happens when a person without a will passes away?

Wealth Management

In the state of California, an person dies without a will, the assets of the person will die without an intestate will, pass away without a will, and the assets of the individual will be transferred into an intestate succession, meaning the state determines who will inherit the automobile, house, television and everything else owned by the individual in his / her name.

What is Preparing for Wealth Management?

The strategic path of organizing and creating wealth is wealth management preparation, to ensure that wealth is passed from one generation to the next one. As well as prioritizing how the wealth will be allocated to benefactors (e.g. families, children, friends, community), it is necessary to set priorities and targets.

Why does wealth management matter?

Many people want their beneficiaries to live secure, healthy and prosperous lives in order to be able to have a “safety net” in the event of unforeseen emergencies facing their beneficiaries. In reality, individuals want their heirs to establish character, to work hard and to have a sense of autonomy; qualities that money can’t buy. Individuals may ensure unique inheritance criteria for particular beneficiaries by wealth management planning. Therefore, every case is different. The most critical part of preparing for wealth management is the ability to say precisely how property will be allocated, including how and when the assets will be given, something that can not be achieved by intestinal succession.

Salidaa provides financial planning management to consumers and more than 20 years of expertise in wealth creation, estate planning and management, probate, business planning and litigation.

Have a wealth planning management question? For a FREE consultation, contact Salidaa!

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