[caption id="attachment_433" align="alignleft" width="150"] Robert K. O’Dell, CFP[/caption]
See Part 1.
As you’ll read in the book, The Four Corners planning approach was named after a very real place in Naples, Florida, where Brad, Rob and Mike all have professional practices. But the Four Corners principles were developed at the intersection of family wealth and uncommon planning.
Corner 1: Foundational Planning covers the fundamental protective and preemptive strategies in every plan, including understanding wills, trusts, and avoiding the slog of probate.
Corner 2: Protection Planning is about incorporating traditional and unconventional strategies for protecting your estate in the present and future. It explores family matters, how generations
interact with each other and how to protect your legacy for, and in some cases from, your family.
Corner 3: Opportunity Planning is about inspiration and will open the door to a whole new way of thinking about estate planning. It takes the concept of legacy beyond the dollars and brings it to a new level around values, encouraging success and inspiring your heirs.
Corner 4: Tax Planning explores a full range of possibilities and ways to reduce the taxable value of your estate. In addition to estate tax, Four Corners planning covers gift taxes, income taxes and the consequences of where you establish your legal domicile.
The final chapter of the book brings all Four Corners together with some practical guidance about how to build your estate planning team and what to expect from them. It will help you build
collaborative relationships within your family and talk about why your plan is what it is.
Galbraith says he hopes that The Four Corners book becomes a catalyst for those who started, but perhaps never finished, their estate plans to make it a priority to review and update their plans. “Many people have done some initial planning, but never go back to rethink their plans. In the end, they wind up not having much of a stakehold in how their original intentions are carried out because tax laws have changed and their families and family circumstances have changed,” concludes Galbraith.
The Four Corners: Where Your Estate Planning Becomes A Legacy book will be available for purchase in paperback and as an eBook for e-readers like Kindle through Amazon.com and other online retailers. Please contact Rob O’Dell at Coyle Financial Counsel if you would like a copy of The Four Corners and want to learn more about the The Four Corners estate planning principles.
Give us a call to discuss your financial planning strategy.
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Posted on Tue, November 27, 2012