I love hiring professionals!
Seriously…
I hate the reason why I need to hire professionals, like my car breaks down, a random problem with my sanitation and drains, or a new addition that my wife tells us “we need” for the house.
Look, things happen in life. Events occur, and we are sometimes the target or victims or unknowing bystanders during those events.
Just recently, my wife and I had a long talk about an addition to our home. We wanted to add a new room downstairs and a new bedroom with its own bath upstairs.
DIY, right???
Nahhh… not this time.
I’m fine with unclogging the kitchen sink, painting walls and changing a door.
But a whole addition upstairs and downstairs? Nope.
Now, for the most part, we were assuming we could find someone that was a jack-of-all-trades – a contractor that could do the building, finishing and everything in between.
And we did.
However, as we gathered more and more proposals and estimates from this fine industry in New Castle, we soon realized something. We understood that home building, like financial planning, had the same thing in common – experts are needed to get exactly what you want.
How so?
Well, after the general contractor that we decided upon met with us, he discussed priorities. These included a foundation specialist to dig, create, build and waterproof the new addition’s foundation. We needed carpenters to handle the framing and structure of the addition. Then, drywall experts, painters, and finishers. Even then, we still needed an electrician, HVAC, plumber and a carpeting installer.
Now, this version of the plan, having the right experts around us, meant that some ideas or assumptions we had would change.
First, the estimate and project would cost more. We knew this could happen, but going from someone who would be doing it all and not an expert in one thing, to having an expert for each aspect changed things.
But, the value was so much higher…
We had an expert, making a warranty for each service and products as they went in our home. We also would receive the addition to our home EXACTLY as we wanted and needed it to be. It would all be done on-time, with not one second nor one cent wasted.
And that is precisely why I love working with professionals, with experts.
Everyone has a singular focus, and does it better than anything else.
Estate planning is like that, too. Yes, I’m an attorney. But, my focus is on the law and family of laws associated with estates and elder law in Pennsylvania.
What are the other professionals that are related to estate planning?
Let’s have a look!
The Professional Quintet of Financial Planning and Financial Health
Whether you have one dollar or one billion dollars, having a good control of your financial health is an asset to living a happy and comfortable life.
My part of this financial health pie, if you will, is in the estate planning area. My focus is making sure that your most valuable assets are protected when you experience a severe medical emergency or death. Your wishes for those assets need to be met. Having your plan in place will give you an incredible peace of mind and happiness.
What don’t I do?
Well, I don’t know the nuances of the Pennsylvania revenue code. And, I don’t know an awful lot about the IRS and the right deductions to claim as an individual and a business.
Likewise, if you give me $50,000 to invest for you, I will have nothing expert to tell you other than to invest in Walmart, Google and Facebook. I don’t have the expertise to help that portion of your financial health.
Like I said, you need more professionals than myself, who will help to plan your estate and create wills, trusts and powers of attorney.
You need these fine fellas and ladies!
- Estate planning attorney
- Accountant / CPA
- Insurance agent
- Financial advisor / Investment advisor
- Banker / Banking institution
All of these professionals are related to one common denominator …
Your money, your wealth, should be protected through growth, sound investments, protections in case things happen and honest information and guidance.
But, there is a catch in this sphere of professional life…
“When it comes to money, trust is difficult to gain and difficult to feel sometimes.”
My goal is simple:
I want to work with you, building a plan putting you in full control of and giving you a voice of direction for all of your assets for you, your loved ones and your legacy.
Basically, you have goals and plans for your property and assets when the worst happens. Those plans need to be clear, legal and prepared.
Because you never know when, right?
Professionals I work with, professionals I like
Let’s talk about each of these professionals. Right now, you might not think you have a need for some of these people. However, living in Western Pennsylvania, working with people from New Castle, Hermitage, Butler and Erie has taught me one thing – if it can happen, it will, and it won’t wait until you are “ready”.
Estate planning attorney
Hey, that’s me!!!
An estate planning attorney discusses the wants and needs of someone, with an open conversation about their assets, health and more. They create plans like wills, create entities to protect your home and money like trusts, create medical and financial powers of attorney, and create other legal documents, while giving honest guidance.
Insurance agents
My insurance agent always jokes with me and calls himself “Mr. In-case-stuff”. Meaning, my wife and I have life insurance, car insurance, homeowners insurance and other insurance “in case stuff” happens!
Insurance agents create and offer plans to protect against unwanted, but not unguaranteed events. For many people, they find one insurance agent, and that is their insurance agent for everything.
Financial advisor / investment advisor
Financial and investment advisors will help guide you in making your money grow. They will not offer fly-by-night schemes or “instant money” investments. They offer sound, time-tested methods of long-term success. And, they only suggest you invest in legitimate sources.
Banker / Banking institution
Many people forget about bankers and banking institutions like banks, of course, credit unions and loan officers in this group. This area of professional existence exists in “present” form, making sure that your money is available to you and useful.
Accountant / CPA
Accountants track, audit and report on everything from your spending, savings and income, to the actual taxes that you pay to the IRS and to Pennsylvania. An accountant keeps your spending and tax payments legal and correct.
When shouldn’t you trust someone as a professional mentioned above?
This is a tough question, because every situation can be different.
First of all, someone who inserts themselves into your assets, through an investment or via something else. Basically, if they are shaking one of your hands, and using the other to ruffle through your wallet… well, RUN.
Next, if the relationship turns from helping you solve your problems and into your helping them solve their problems, there can be an issue. You hired the professional, not the other way around.
Next, once trust is broken, that’s it. When we talk about things like money, our health and the most important people in our lives, trust is of the highest importance.
Finally, when someone offers to be the “jack-of-all-trades”, there might be an issue. I’ve spent years learning the law, and even more learning the specifics concerning Pennsylvania law when it comes to estates, wills, trusts, powers of attorneys, assets, elder law and asset protection. I would hate to think you trusted someone who watched 20 hours of Youtube videos to help you invest money, sell you insurance, create your wills and trusts and handle your bookkeeping.
So, how do you find a true professional to help you?
I like to surround myself with professionals, like the ones mentioned above that I can trust. I also am giving people I know recommendations – telling people I trust about people I trust. It’s good to know that I have the right professionals around me when I need them.
For estate planning in New Castle and Western Pennsylvania, you can start by having a free conversation with me. Just call (724)60-ELDER to schedule a free consultation, over the phone, via video chat or face-to-face.