The six categories of fiduciary services and why you need them
Fiduciary services can be broken into six different categories, depending on where you are in life and what type of legacy you are looking to leave behind. Here we take a look at and explain what you can expect as part of each division.
Utilizing a planning professional can give you guidance on tax and estate planning while also looking at your specific income needs for retirement. Make sure to talk about your liability risks. A professional can also help establish a plan for your financial legacy and guide you on how to make your money work for you and the next generation.
Investment Risk Management
How much are you currently risking on your investments? A professional investment strategist will focus on your investment goals and plan while also considering your risk while planning for retirement and your IRA tax benefits. We suggest considering alternative investments as an option.
Fiduciary (Trust) Services
Consolidating your assets in one place helps keep things simple. Let a team of professionals help you with everything from your investments and retirement planning to estate planning. Your team should provide ongoing support for you, your loved ones and your charities. Look at solutions for spendthrift, special needs or charitable beneficiaries and set up bill pay services.
Find an un-biased professional to manage the disposition of assets according to a will or trust. They can manage the collection of assets, payment of debts, handle tax matters and distribution to your intended beneficiaries, while also providing investment oversight from professional money managers.
Farm management services are ideal for absentee landowners, experts can oversee tenant relations and negotiate crop share or cash leases providing ongoing oversight. Sign up for farm program enrollment and seek a qualified intermediary for 1031 exchange transactions.
Receive guidance on how to establish a succession plan and discuss how to protect your family business/farm from estate taxes or liquidation should an untimely death occur.
At TS Prosperity Group, we IGNITE PROSPERITY® by helping our clients do more with their money. Whether it’s saving a little extra cash each month or accomplishing a long-term strategy, our goal is to help you transform your financial life. Call and schedule an appointment today, one of our team members would love to help you do more with your money at TS Prosperity Group. TS Prosperity Group is based in Council Bluffs, Iowa, with clients across the midwest. For more information visit tsprosperitygroup.com or call 844-487-3115. #igniteprosperity