ASSET MANAGEMENT

AGAVE’s goal is to provide you with a long term plan to care for yourself and your spouse and to provide for family members through your estate plan when you are gone. In order to accomplish this goal, it is necessary to have all your assets clearly identified and set up to meet your estate plan needs. Therefore, the first step is to identify and inventory all your assets. You should create a list of everything you think you own, including real property, bank accounts, retirement accounts, and personal property. For real property, such as your home, you’ll need to provide us with your deed. For assets held at a financial institution, such as a bank, or investment brokerage, you’ll need to provide us with the name of the institution, account number, and the exact type of account. It is also important to indicate how all your assets are being held, whether an individual owns it solely, jointly, in a Trust, LLC, or other form. Don’t forget insurance policies or valuables, such as jewelry, artwork, antiques or other items of value. In setting up your estate plan, your planner will take these goals into consideration when reviewing how your assets are set up and managed.

 

Once your assets are inventoried, your estate planner may suggest a reorganization of any assets that are not set up in an optimal fashion to meet your overall goals. Depending on the specific situation, there are many wealth management strategies to consider including various types of trusts, durable powers of attorney, obtaining the proper amount of insurance, exempting assets, and the creation of legal entities. Each of these strategies serves a different purpose and depending on the needs of the business owner or individual, have various advantages and limitations based on specific short-term and long-term financial plans.

 

In general, your assets will be classified in a way that provides the best overall use to fit your needs.

 

To discuss your assets and formulate a comprehensive plan, please call our office at 702-909-2462 or contact us by email to arrange an initial consultation.