FINANCIAL ADVISORS

CHOOSING A FINANCIAL ADVISOR

Anger, grief, and loss are difficult emotions which you may be experiencing during a breakup.  But dividing assets is also complicated and stressful.  It is mandatory that you set up these complex issues of filing taxes and working within a budget correctly to your advantage.  The resources available through the Peachy Network of Premier Pros will guide you to take advantage of your best options.

TAX PLANNER

What does a tax planner do?

A tax planner is someone who can assist you with navigating the changes from filing jointly to filing as a single tax payer.  They calculate, file and sign income tax documents for individual people or businesses. They give prudent advice to minimize audit risks. In the event of an audit a tax planner can also guide you through the steps to get through it as painlessly as possible.

How is a tax planner paid?

Tax planners generally are paid an hourly rate for the work they do, although there are some flat fee options out there for simple tax filing.

Top questions to ask a tax planner?

• What specific tax situations do they specialize in?
• Have they prepared taxes for someone going through a divorce before?
• Are they familiar with your state and local tax laws?
• How long have they been in business?
• Will they work directly with me or will I work with their team?

How do you know you’ve found the right tax planner?

When your financial picture is changing you need to have a tax planner you can trust for sound advice.  Top tax planners will have a strong code of ethics and a firm grasp of the tax laws. You will also want someone who provides audit support just in case you ever run into a situation where there is auditing.  Tax planners within the Peachy Alliance provide comprehensive services to protect your financial future.

ESTATE PLANNER

f your marriage is changing you may want to consider shifts in your estate planning. Protecting and managing your assets can give you peace of mind and one less thing to stress about.  Our experts in the Peachy Network can help you protect your will and/or trust in the face of new family dynamics.  Focus on your finances with an experienced and kind professional who understands the delicacy and complexity of assuring your loved ones of their legacy.

What does an estate planner do?

An estate planner will create a comprehensive plan with you to ensure your loved ones are taken care of. They will go over allocating your assets and possessions how you would like, dictating who makes your care decisions if you become incapacitated, naming guardians for your children and including messages you wish to share with friends and family after your passing. With the help of an estate planner you can also make sure you have adequate life insurance, and a plan in place for your business if you are an entrepreneur. Many people consider creating a living will or trust in order to reduce the likelihood of escalating court costs, taxes, and probate.

How is an estate planner paid?

Most estate planners have an hourly rate for consulting with you and drawing up the appropriate legal documents. Some will have flat fees. Keep in mind you will likely need to revisit your will/trust throughout your life so you want to be clear on costs for making changes in the future.

Top questions to ask an estate planner?

• What types or properties belong in a living trust?
• How should I choose my trustee?
• Will a living trust help with avoiding probate and estate taxes?
• What are the pros and cons of a living trust?
• Should I set up power of attorney?
• How is a living trust different from a will?
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How do you know you’ve found the right estate planner?

The best estate planner for you is one who listens to your specific needs, treats you will respect, and works collaboratively with you to create a suitable plan to ensure your wishes are honored. There are some things that should be included in any will and trust, and then there are issues that only an expert will be able to identify. You can have confidence that the estate planner you choose through our Peachy Alliance will work closely with you to cater your will or trust to your specifications.

INSURANCE EXPERTS

If you decide to separate or divorce you may be considering changes in your insurance as well. The Peachy network has trusted advisors who can help to manage all your insurance needs. There are many kinds of insurance to consider: life insurance, automobile insurance, home insurance and umbrella policies.  Health insurance can be especially complicated during a dissolution.  It is important to stay protected and our top-rated insurance professionals will be able to guide you to the most comprehensive and affordable policies.

What does an insurance expert do?

There are several different types of insurance experts available for your needs. A life insurance expert can recommend and sell life insurance policies to protect your family financially after your passing. An automobile insurance expert can help you to insure your car, and may also offer options for large recreational vehicles such as campers and boats.

A home insurance expert can help you to ensure your place of residence whether it’s a condo, a townhome, or a single-family home. Some experts can help you bundle your services for increased savings. One of the most important insurance experts is a health insurance broker. They can guide you through the health insurance plans available to you during nationwide open enrollment or during qualified life changes for special enrollments such as moving out of state, having a new baby, or undergoing a divorce.

How are insurance experts paid?

Most insurance experts only receive commissions for the policies they sell, although some may charge a reasonable fee for expert consultation in special circumstances.

Top questions to ask an insurance expert?

• What type of insurances should I get?
• How much coverage do I need?
• What discounts am I eligible for?
• How long can I keep the policy?
• What can impact my premium costs?
• What exclusions does the policy have?

How do you know you’ve found the right insurance expert?

Choosing the right insurance expert comes down to finding someone who is an authority on the type of insurance you are looking to obtain. Our Peachy Alliance has a diverse network of experts to cover all your insurance needs. The best expert for you is someone who evaluates your needs and budget, and works quickly to set you up with the ideal policy.

FINANCIAL & INVESTMENT ADVISOR

Whether you are going through a separation, divorce, or getting married, changes in your life will necessitate sound advice and reliable investments.  There will most likely be a division of assets, separate filing of taxes, and a shift in priorities.

The Peachy Alliance has extremely skilled and knowledgeable experts who can help.  This is an excellent forum for appraising possible candidates, all of whom have come to us as peer reviews.  You can read about the Alliance’s investment advisors, learn about their style, watch a video and even set up a video interview yourself through Peachy. Feeling secure that your assets are safe and earning for you will be of comfort as you move forward in your life.

What does a financial advisor do?

The first thing a good advisor does is get to know your investment style. You might find that you are fiscally conservative, willing to take moderate risks, or wanting to make aggressive investments. The advisor will review your assets, set a long-term plan, and look towards the future and possibly retirement.  They can identify the current state of your portfolio and possible vulnerabilities. There are many investments to consider including bonds, tax-free municipals, stocks in new companies, older well performing stocks, companies with high dividends and many more.  It is very helpful to choose an advisor who is active and enthusiastic with your investments.  Through the Peachy Alliance you can someone who checks in with you consistently, follows the market closely and makes suggestions based on your needs.

How is an Investment Advisor Paid?

   Some advisors take a percentage of your portfolio, often 1%.  Others charge when the stock transaction takes place.

Top Questions to ask an Investment Advisor

• Will you work directly with me or do I work with a team?
• Typically how much percentage of cash should I keep in the portfolio?
• How would you describe your style or strategies?
• What do I do with the investments I have in common with my former spouse?  Is it better to keep them or to divide them up?
• How do my new partner and I invest together?
• What are the advantages to having long term investments?
• How do I plan for retirement?

How do I know when I have found the right Financial Advisor?

It is best to look for a Financial Advisor who evaluates your needs carefully and has a handle on the amount of risk you are willing to take.  The world economy is very much in flux and these changing times need to be considered.  Diversity of investments is always a good thing.  The Peach Alliance will help you find and interview top financial advisors.