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spotlight on

• HARRISON FINANCIAL SERVICES

estate and legacy planning: YOUR PERSONAL MISSION, VISION AND VALUES

“Thanks, but I already have an estate plan.” This is a statement we have heard many times from prospects beginning the financial planning process. Estate planning is one of the most overlooked and important parts of a comprehensive financial plan for busy and successful executives, business owners and retirees. Often, the foundation components of estate protection are in place, including a last will, living will, and power of attorney. However, these documents need to be regularly updated and reviewed. This is due to evolving estate and tax laws, as well as changes to a client’s financial future. While these estate protection foundation components are vital, another important part of a solid estate plan includes identifying the mission, vision and values of a family. Working with a family to identify their mission, vision and values includes understanding what is important to best protect for future generations as well as to support charities that have meaning to the family. For a married couple, ultimately, at the time of death of both spouses, all of the assets in their estate will go to one of three places: • Family and designated beneficiaries • Charities • Federal and state taxes Planning to achieve the objectives of the mission, vision and values can be a complex process for a married couple, as each spouse may have different ideas regarding what is important. Using HFS’s process, designed by “The Legacy Companies, LLC.”, has proven to be effective and rewarding for clients. Many clients have shared how happy they are when this process has been completed. They know the things they care about most are protected in the event they would have a lack of mental capacity or death. Some include: • How much and when children gain access to assets • How to protect assets in the event of a divorce of a child • How to provide needed financial access to a surviving spouse while maximizing protection from estate taxes • What charities will receive gifts for important causes aligning with family values • How to protect future generations from estate taxes Developing a comprehensive estate plan based on the mission, vision and values is important and keeping it up to date is vital as circumstances change over time. Working with a credentialed adviser team—who has their own succession plan secured to ensure not only you but your family is served for years to come and who specializes in working with your trusted attorney—provides great benefit and comfort that future goals will be achieved and this important component of a comprehensive financial plan is in place. Harrison Financial Services works in partnership with many of the most experienced estate attorneys in Nebraska, Iowa, and across the country. Coordinating with our clients’ team of experts ensures their families will be serviced for multiple generations as we work to become one of their “Most Trusted Advisors”. Harrisonfinancialservices.com | 402.891.2302 Harrison Financial Services is a marketing name for Tim Harrison and is not a broker-dealer, registered investment adviser, federal savings bank, subsidiary or other corporate affiliate of The Northwestern Mutual Life Insurance Company, Milwaukee, WI, including its subsidiaries, nor is it a legal partnership or entity. Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company, Milwaukee, WI (NM) (life and disability insurance, annuities, and life insurance with long-term care benefits) and its subsidiaries. Tim J. Harrison is a Representative of Northwestern Mutual Wealth Management Company®, Milwaukee, WI (fiduciary and fee-based financial planning services), a subsidiary of NM and federal savings bank. Tim J. Harrison is an Insurance Agent of NM and Northwestern Long Term Care Insurance Company, Milwaukee, WI (long-term care insurance), a subsidiary of NM. Tim Harrison is a Registered Representative of Northwestern Mutual Investment Services, LLC (securities), a subsidiary of NM, registered investment adviser, broker-dealer and member FINRA and SIPC.

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mquarterly • summer 2018

metroMAGAZINE’s mQUARTERLY SUMMER 2018 Issue  

metroMAGAZINE/mQUARTERLY presents metroMAGAZINE/mQUARTERLY’s SPRING 2018 issue online now! metroMAGAZINE/mQUARTERLY is published quarterly b...

metroMAGAZINE’s mQUARTERLY SUMMER 2018 Issue  

metroMAGAZINE/mQUARTERLY presents metroMAGAZINE/mQUARTERLY’s SPRING 2018 issue online now! metroMAGAZINE/mQUARTERLY is published quarterly b...