3 Important Areas A Financial Planner For HNWIs Should Cover

HNWIs, or high-net-worth individuals, typically use a combination of accumulated assets and a constant income stream to pay for their future expenses. Since their portfolios are so complex by nature, they need help from an experienced financial advisor in Mississauga who comprehends their unique situations and needs.

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Here, we are going to discuss the three important areas a financial planner for HNWIs should cover:

Estate planning:

Life is unpredictable, and a debilitating illness or sudden demise can strike at any given time. To make sure your wealth gives a helping hand to your loved ones, you must prepare your estate and determine how to allocate your assets. For high-net-worth individuals, estate planning is also essential because recent changes in the law may have made some current strategies futile. If you fail to update your estate planning strategies as per the current legislation, you risk short-changing your family members when they receive your wealth.

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Estate planning is essential for HNWIs who want to feel secure about their money. At Haunn Landers & Co, we help clients see the big picture by drafting wills and trusts, assigning health care proxies and durable powers of attorney, preparing for possible life scenarios, and managing their money according to their wishes.

Income tax planning:

High-net-worth individuals (HNWIs) often have higher incomes, which means they are also subject to higher tax rates. Professional financial planners offer strategies to help HNWIs lessen their taxes legally. These advisors work to ensure that their clients pay what is required by law but not more than necessary. Ultimately, this service allows high-net-worth individuals to have more money available for current expenses or estate planning.

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At Haunn Landers & Co, we evaluate your current financial profile to understand the steps you can take to lessen your tax contributions. We customize our strategies to meet your needs, ensuring a personalized tax plan that reflects your distinct circumstances.

Retirement planning:

While all investors must plan for retirement, the process looks quite different for high-net-worth individuals. With your wealth determining your lifestyle, you require adequate funds to attain your retirement dreams. Rather than relying solely on traditional investments to save for your golden years, it’s wise to seek an advisor who can help you develop a plan that includes additional sources of income and ways to maximize your portfolio.

For more information visit our website or call us at 905-821-8224. You can visit our business profile for more details

http://www.finditinpuertorico.com/canada/mississauga/finance-and-insurance/haunn-landers-co

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