Life's Financial Transitions

 You’ve found the love of your life and it’s safe to assume that thinking through the financial risks of merging assets is an uncomfortable subject between you and your future spouse. We’ll help you navigate the conversation by giving you information and tools to think about your financial future as objectively as possible. 

Congratulations on welcoming a child to your family. A whole new set of financial decisions await you now. We will help you think about the long-term financial needs, such as appropriate life insurance you should carry, college savings plans, disability insurance, updating your beneficiaries on your retirement accounts, and creating a will. This is just the tip of the iceberg.

Divorce is a tough situation to deal with. The emotions involved in the process can cloud your ability to deal with the financial implications surrounding the divorce. We will help guide you through, assisting you to get the financial settlement you deserve. In fact, this is one of our areas of specialty at PFS 360. 

 Managing money with your spouse is a challenge by any measure, but when you merge two families under a single budget, it can be harder still to strike a balance.   Blended families bring to the table a mix of assets and debt, established careers, and firmly entrenched financial habits — not to mention kids from a prior relationship. We can help you come up with a plan to blend your finances successfully, ensuring that financial philosophy and vision are aligned.

You have been saving and planning for retirement for years and the day is fast approaching. It’s time to talk about specific things such as which accounts you will withdraw funds from to cover living expenses. What are the most tax efficient ways to draw funds from your accounts? We will help you come up with a plan to structure your portfolio so it provides both income and the growth you need to live the life you envisioned in retirement.

If you have recently learned that you, or a loved one, are facing a medical diagnosis that could have a major effect on your family, you are likely dealing with many emotions. You are trying to plan for the unknown and there are a lot of financial pressures that must be addressed. Our goal is to help you and your family prepare for the future by guiding you through the financial components of the situation. 

It is never easy to deal with the loss of someone you love. We are here to help you handle the overwhelming financial aspects involved with the death of a loved one. Helping you prioritize the time sensitive financial issues first, is our goal. The less critical items can be dealt with at your own pace. Retitling assets, collecting insurance benefits, filing estate tax returns, assisting in probate matters, and trust administration are just a handful of areas we can help you with.

Inheriting wealth can be a life-changing event. You may have seen it coming, or it may have been a surprise. It is imperative that you take the time to plan out how you will manage your new wealth. We will help you understand the situation from the perspective of taxation, budgeting, asset titling, liability payoffs, risk management, estate planning, etc. Our comprehensive planning process encompasses all areas of your financial life, both present and into the future.

 Whether you plan on leaving assets to your kids, grandkids or favorite charity, the biggest gift you can give your loved ones is to think through your estate plan in advance. If you’ve drafted the appropriate documents, correctly titled your assets and communicated your wishes to those who will be left in charge when you are gone, your family can focus on grieving and making sure your wishes are carried out.

We will help you think through various  estate planning strategies and help you implement any changes necessary.

 Many people began their careers as an employee of a company. Now that you have specialized skills, the confidence to start your own business is upon you. This new journey brings many financial considerations to the forefront. What type of entity should you be? How do you pay taxes on your income? What type of retirement plan should you start? How do you track income and expenses? What types of insurances do you need? These are just a few questions you may have. We can guide you through the transition, providing clarity of the road ahead.