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Estate Planning, Financial Planning Or Investment Planning – Which Best Suits Your Needs

By Stephen Daniels

Whether you want to better manage your assets, plan for your future or develop a comprehensive strategy for doing both; estate, financial and investment planning may be in order. Estate planning allows you to control the allotment of your assets during your lifetime and afterward. Financial planning includes nurturing your economic goals, maintaining an appropriate budget and establishing a system that helps you reach those objectives. Finally, investment planning involves elements of both other plans; it assists you in managing your assets now and in the future, as well as tailoring investments to suit your particular situation.

Tax-managed investing requires knowing the rules of the game. Unfortunately, these often change, so all planners require different types of expertise. For instance, estate planning typically involves an attorney to create documents and provide advice. Tax laws regarding personal assets are mutable, so an estate attorney can help keep your plan current with the changes in order to protect your assets. A CPA is equipped to provide sound financial advice vis-a-vis budgeting and forecasting, while a certified investment planner specializes in building, balancing and making adjustments to your portfolio.

Qualified advisers should be licensed for securities, investment products, and fixed and variable annuities also require insurance licensing. Other services in your state of residence could require still more licensing and certifications. Due to the complexity of the systems involved, it is important to have a fully accredited planner working for you. Given that investment planning encompasses aspects of both your estate and financial plan, good management requires balancing the two. Diversification should be a part of any good investment plan.

How suitable are each of the plans for your unique situation? Each strategy is actually part and parcel of a more general goal of economic well-being. For example, an estate includes finances and investments, which in itself indicates their symbiotic relationship. However, an estate plan creates the necessary legal framework to protect and control your wealth, wealth that is directly influenced by the financial and investment plans in place.

If, like most people, your sights are set on a comfortable retirement, you’ll benefit from all three plans. An estate plan will ensure the preservation and proper channeling of your assets, even after your death, without resorting to the courts. Investment planning can help you grow your wealth in preparation for retirement, while a good financial plan will help you live within your means – and keep you on course with an eye to the future.

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Stephen Daniels is an acclaimed NetBiz SEO 2.0 researcher. For financial planning advice and assistance in the San Francisco Bay Area, he recommends Stoneridge Financial Advisers. These licensed advisers offer investment, estate and other planning services through a multi-disciplinary approach that saves you time and money.

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Article Citation
MLA Style Citation:
Daniels, Stephen "Estate Planning, Financial Planning Or Investment Planning – Which Best Suits Your Needs." Estate Planning, Financial Planning Or Investment Planning – Which Best Suits Your Needs. 26 Jun. 2010. 9 Feb 2016 <>.

APA Style Citation:
Daniels, S (2010, June 26). Estate Planning, Financial Planning Or Investment Planning – Which Best Suits Your Needs. Retrieved February 9, 2016, from

Chicago Style Citation:
Daniels, Stephen "Estate Planning, Financial Planning Or Investment Planning – Which Best Suits Your Needs"

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