Estate Strategy and Legacy Planning - Financial Services from Lundervold Financial

Much of what we do as investment advisors focuses on helping you plan for the future, so you can enjoy your life. We help you make sure you have enough money saved or help you plan streams of revenue to see you through retirement. Another important part of planning for your future involves providing for and leaving a legacy for your beneficiaries, whether they are your children, your church or your favorite charities.

This part of our Blueprint for Financial Clarity™ might include:

  • Maximizing your estate and income tax planning opportunities
  • Using life insurance to provide a tax-free legacy to your beneficiaries
  • Protecting your IRA or qualified accounts from being fully taxable to your beneficiaries
  • Meeting with your family for “succession planning”

We at Lundervold Financial do not provide tax and legal advice. For that type of guidance, we’ll refer you to your accounting and legal professionals. If you do not have a tax advisor or attorney, we can help direct you to licensed and qualified professionals in Minnesota or wherever you live in the United States.

Ready to fill in the gaps of your financial estate plan?

What is Legacy Planning and Estate Maximization?

Estate and financial planning go hand in hand. Legacy planning is the part of your financial plan that directs your assets to your beneficiaries after you die. You’ll work with a qualified legal professional to establish your legacy plan. Our team at Lundervold Financial will work with them and you to ensure you have the right investments in place.

Estate maximization is one tactic we use in legacy planning, because it helps fill in financial gaps that typical estate plans leave.

If you have children, grandchildren, dependents or other types of beneficiaries that you are responsible for, and you want to ensure that your retirement plan includes provisions for them, we can help evaluate your portfolio and look for gaps and opportunities.

What to Consider When Planning Your Estate

Consider these questions as you work with your attorney, accountant and investment advisor on your estate plan:

  • What is your goal for your estate plan? Sounds like a simple question, but we like to begin with the end in mind — what is it you hope you leave behind for your beneficiaries?
  • What assets do you want to include in your plan? Think about all of the money and valuable assets you own.
  • Who are the beneficiaries you want to provide for? Are there charitable organizations that you want to support?
  • Do you want your beneficiaries to avoid probate? This is something you’ll discuss with your attorney, who can advise you on strategies to avoid the complicated and costly probate process.
  • Do you have the right insurance policies? This is where Lundervold Financial helps. We can help you obtain the right kinds of policies to help ensure your wishes for your beneficiaries are met.

How We Help: Legacy Planning and Your Estate

Twin City-based Lundervold Financial has worked with clients all over, stretching from Minnesota to Florida and Oregon to New York and beyond to help our clients who have gaps in their financial strategies.

If your estate plan doesn’t include financial instruments to provide for your beneficiaries, we can help direct your legacy planning with our Blueprint for Financial Clarity™.

We provide realistic assessments of your financial needs by laying a foundation to help you feel confident and independent as you approach and go through retirement. Our review process for estate maximization starts with understanding your concerns — what matters most to you after you pass on? Who are your beneficiaries and what legacy do you want to leave behind?

Based on your concerns and needs, we will look at a number of areas: insurance planning, investment planning, tax planning, asset protection and legal documentation.

Prefer to speak to your own legacy planning advisors?

Our firm has a strategic partnership with tax professionals and attorneys who can provide tax and/or legal advice.

Learn More About Lundervold Financial’s Blueprint for Financial Clarity™

  • When do you want to retire? What do you want your retirement to look like? What sources of income will you have? What expenses will you have? Will you have debt?
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  • Where is your money invested now? What is your tolerance for risk? How hands-on do you want to be with investment management? How liquid will your investments be?
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  • Are there tax breaks and deductions that you can take advantage of as you age and approach retirement? Once you retire, are there tax benefits you need to know about?
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  • What insurance policies do you have in place for long-term medical care, and are there others that you might consider? Do you have an advance care plan?
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  • Do you have an estate plan*? Do you need us to introduce you to an estate planner and work with them to help you maximize your income during retirement and for your beneficiaries?
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*Lundervold Financial does not provide tax or estate planning, but we are part of our clients’ estate planning team. If you are looking for an estate planner, we can refer you to professionals who provide the following services: trusts, probate, charitable giving, estate planning, and tax planning.

Contact Lundervold Financial

Call, email or message Lundervold Financial for more information on how we can help with your legacy planning and maximization of your estate. Review our calendar of events for upcoming financial and retirement planning seminars.