Finding the Right Professionals

/in , /by

Building Your Team: Why the Right Professionals Matter

A successful life plan often requires more than just good intentions; it requires a team of dedicated professionals working together. An experienced attorney, a knowledgeable financial advisor, and a detail-oriented CPA each play a critical role in ensuring your financial and legal affairs are structured correctly. However, simply having these professionals is not enough. You must have the right professionals for your specific needs.

The Right Attorney: Experience is Not One-Size-Fits-All

When seeking legal advice, it’s tempting to choose an attorney based on a friend’s recommendation or because they are a familiar name. But legal expertise is highly specialized. Choosing a lawyer who doesn’t focus on your specific area of need can have disastrous consequences.

For example, we recently consulted with a family just one month after they had paid a hefty fee for a revocable trust. The trust itself was well-drafted for a standard situation, but it was created for a person who anticipated needing long-term care. The document provided no asset protection and was useless for helping the family get financial assistance. We had to discard the previous work and start over, costing the family more time and money. If you are a senior or planning for retirement, you need an attorney who specializes in the unique intersection of asset protection and elder law, not just general estate planning.

The Right Financial Advisor: A Strategy for Your Goals

Just like attorneys, financial advisors have diverse areas of expertise. To find the right fit, you must first understand your own goals and risk tolerance. Ask potential advisors critical questions:

  • What is your investment strategy, and how does it align with my goals?
  • How do you protect clients from downside risk or market losses?
  • How often will you communicate with me about my investments and overall strategy?

Look for an advisor who communicates frequently and has an effective, proactive strategy to protect your investments over the long term.

The Value of Good Advice

While most people think their situation is simple, every family has unique circumstances that require a tailored plan. Paying for specialized, expert advice now is an investment that will save you and your loved ones significant time, money, and stress in the future. Call our office at (919) 256-7000 to schedule a consultation.