Can a Financial Advisor Help With Estate Planning?


Can your financial advisor help with your estate plan?

Estate planning may conjure images of a lawyer's office and mountains of paperwork.

While your estate planning attorney is an essential professional, your financial advisor can also play a significant role in helping you create an estate plan that truly reflects your resources, goals, values, and legacy.


The estate planning process comes with many moving pieces: legal liabilities, tax considerations, and financial elements.


This makes it essential that you, your advisor, attorney, and tax professional are all on the same page. Coordination in estate planning is key!


Your financial advisor should play a central role in crafting your estate plan. They can help you understand your financial goals and wishes and empower you to build a plan that lets your legacy shine.


Today, we’ll explore five essential ways your financial planner can help you with your estate plan.


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Help You Build A Foundation


Let's face it, the legal system is far from simple. Sometimes it can be difficult to make the association between a legal estate planning document and your specific plan. Your advisor can help you make those valuable connections each step of the way.

Since an estate plan is one part of your total wealth strategy, it makes sense to have a comprehensive financial advisor involved to ensure consistency with your financial plan. An estate attorney may not consider your investments, and a life insurance agent may not think about taxes, for example.


When you work with a comprehensive financial advisor, such as Covenant Wealth Advisors, the financial and personal impact on other important areas like taxes and insurance are considered with the investments as one integrated picture.


Having an advisor in your corner will establish a foundation that you can build the rest of your plan on.