Estate Planning Review

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Estate Planning as Part of Your Retirement Plan

Estate planning involves more than determining how assets may be transferred to family members and other beneficiaries.


As your financial circumstances, retirement goals, and family situation change, your estate planning documents may need to be reviewed as well.


Harbor Wealth incorporates estate planning considerations into the broader financial planning process. We review your existing estate planning arrangements, beneficiary designations, and other relevant financial considerations, and when appropriate, coordinate with your estate planning attorney and other professional advisers.


The goal is to help you understand how your estate plan fits within your overall financial plan and identify questions that may warrant further discussion with your legal and tax professionals.

  • Are Our Assets Protected, and Do Our Insurance, Trusts, and Beneficiaries Work Together?

    Insurance, trusts, account ownership, and beneficiary designations address different parts of a retirement and estate plan. Reviewing them together can help identify potential gaps or inconsistencies, although the appropriate structure depends on your circumstances and the terms of your legal and insurance documents.

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Questions We Help You Consider

Estate Planning Review Is One Part of the Bigger Picture

Estate Plan considerations are connected to many other retirement decisions. That's why our planning process brings multiple areas together.

1

 Retirement Tax Planning

Taxes are one part of the retirement equation—but they can affect many other decisions.

We consider tax planning as part of the broader retirement strategy, including questions involving Roth conversions, required minimum distributions, Social Security taxation, retirement withdrawals, and coordination with your tax professional.

2

 Retirement Income Planning

Retirement changes the question from “How much have I saved?” to “How will I use it?”

We evaluate retirement income sources, withdrawal strategies, Social Security, and the relationship between your spending needs and available assets.

The objective is to develop a retirement income strategy that reflects your circumstances, priorities, and financial plan.

3

 Retirement Risk Planning

A retirement plan has to account for more than investment markets.

We review potential risks that could affect your financial plan, including property and casualty insurance and umbrella coverage, along with other areas of risk that may be relevant to your circumstances.

4

 Retirement Investment Planning

Your investment strategy doesn't exist separately from your retirement plan.

We consider your investment strategy in the context of your retirement timeline, income needs, financial circumstances, and tolerance for investment risk.

That includes considering how your portfolio may fit into the broader plan before and during retirement.

5

Estate Planning Review

Retirement planning also raises a different question: what happens to your assets after you're gone? What if you get sick?

We review your estate planning arrangements and consider how they fit with your broader financial plan. When appropriate, we coordinate with your attorney and other professional advisers.

Estate Plan Review in the Western Chicago Suburbs and Beyond

Harbor Wealth is based in Westchester, Illinois, serving clients throughout Downers Grove, Burr Ridge, Bolingbrook, and surrounding western Chicago communities, as well as clients outside the immediate area.

We work primarily with individuals and families approaching or transitioning into retirement who want to bring their financial decisions together into a coordinated plan.

Why Harbor Wealth?

Tax-Focused

Taxes are considered as part of the broader retirement planning process.

Independent

Our planning process begins with your circumstances, goals, and financial questions.

Multigenerational

Our relationships can evolve as your financial circumstances and family needs change.

Start With the Questions You're Already Asking

You don't need to know which strategy is right before starting a conversation.


We can begin by looking at your retirement timeline, income sources, investments, retirement accounts, and other relevant financial considerations—and then identify the questions worth exploring.