Who do you consult with first??

[golfnut]

My wife and I have prograstinated long enough !! A little background follows:

- My DW is 48 and I am 51.
- Have a son who is 13

We have to yet to consult with an estate attorney!! Also, I feel we need to consult with financial planner (hourly fee only) to discuss investments, investment mix , life insurance and retirement possibilities/realities etc...

Questions we have:

- Should we seek out a professional with a CFA designation or is there a better educational designation for financial planner??
- Any anybody out there ever utilize Garrett Planning services? If so, opinions would be aprreciated.
- Last but not least. Who do consult with first?? Attorney or financial consultant??


Look forward to receiving some insights here.

Regards,
Golfnut

 

[gindie]

- Last but not least. Who do consult with first?? Attorney or financial consultant??

Estate attorney, hands down. You need a will TODAY stating who will be guardian for your son. Should also have durable and healthcare powers of attorney to establish what to do if you are incapacitated. A living will is important too. If Terry Schiavo had had one, there wouldn't have been all that mess.

 

[chinaco]

Attorney/Estate first.

If you use VG, you can get a financial plan... possibly for free depending on how much you are holding in your accounts.

 

[kcowan]

After you get your estate sorted out, you should ask around with your peers to find a planner that seems to be suited to your situation.

After the planning is done, you may also need an investment advisor if you do not have time to DIY. Do not take investment advice from the planner. Tha planner might help with the allocation to equities but not the selection.

 

[SecondCor521]

If I had to pick a financial planner, I would probably choose someone associated with this group:

http://www.napfa.org/

2Cor521

 

[golfnut]

Thanks to everyone who replied.

Any ideas how to find a good estate attorney? How much are we looking at $ wise to get all these documents completed?

As respects financial planners, anyone familiar with Garrett Planning services?

Golfnut

 

[gindie]

Estate attorneys - word of mouth with co-workers is the way I'd suggest. In our case, my wife worked at a law firm and knew of a good one. We were charged around $300-$400 for everything.

Garrett - I've heard of them. They are a network of hourly planners, much like the NAPFA folks that SecondCor521 mentioned.

 

[FinanceDude]

Estate attorneys - word of mouth with co-workers is the way I'd suggest. In our case, my wife worked at a law firm and knew of a good one. We were charged around $300-$400 for everything.

Garrett - I've heard of them. They are a network of hourly planners, much like the NAPFA folks that SecondCor521 mentioned.

$300-$400 is about right, unless there's trusts involved, then around $1500 or so is the going rate, depending on where you live...........