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Begin Your Legacy Planning in Milldale, CT

Estate and legacy planning is an important financial decision for business owners, entrepreneurs, individuals, and families. With the right plan in place, you can protect your finances while ensuring they…

April 28, 2023

Written by John Wonneberger

Estate and legacy planning is an important financial decision for business owners, entrepreneurs, individuals, and families. With the right plan in place, you can protect your finances while ensuring they will be passed on to future generations. Estate and legacy planning can also provide additional benefits such as asset protection, tax savings plans, charitable giving strategies, and more. 

When caring for yourself and the people closest to you, planning today can make all the difference tomorrow. Let Nesso Wealth at Nesso Group help guide you through this complex process so that your assets remain secure for many years. Our team of financial advisors enables you to pursue true wealth and plan for whatever the future has planned for you.


About Nesso Wealth

At Nesso Wealth, our mission is to help individuals get closer to their financial goals. Thanks to our holistic approach that involves evaluating and understanding every aspect of your unique financial situation, our team is dedicated to providing personalized guidance on various topics. Some of those topics include long-term retirement planning, investment strategies, estate planning, and more.

We strive to make sure that whatever stage of life you’re in, we can help you meet your goals and equip you with the tools and knowledge necessary for making informed decisions for the future.

Our Wealth Management Process

Our wealth management services are designed to help our clients take full control of their financial journey. At the heart of our approach is understanding each customer’s unique financial circumstances and goals, then providing tailored advice to achieve those objectives. Let’s go over the basics of our service.

What is Wealth Management?

Wealth management is a comprehensive approach to helping individuals, families, and businesses manage their finances. Wealthy individuals with diverse needs usually find this service helpful.

How Does Wealth Management Work?

Wealth management advice is comprehensive and involves more than just investments. It can cover all aspects of a person’s financial life. People with high net worth may benefit from an integrated approach instead of taking bits of advice and using various products from multiple professionals.

In this method, a financial manager coordinates the necessary services to manage their client’s assets and creates a strategic plan for any current and future needs—such as will and trust services or business succession plans.

How Our Experts Manage Your Wealth

Our team of financial advisors helps you identify your financial goals, create strategies to achieve them, and execute those strategies using our trusted network of professionals. We employ the following strategies:

  • Develop a plan that will maintain and increase a client’s finance based on their financial situation, goals, and risk tolerance
  • Coordinate each part of a client’s financial picture together to protect the client’s wealth
  •  Meet regularly with clients to update goals, and review the financial portfolio
  • Investigate whether additional services are needed

Estate Planning: We Prepare Your Assets for the Future

At Nesso Wealth, we understand that creating a family legacy is important. Our experienced team of estate planning experts has the trust-based knowledge to help you plan your future and secure your legacy for generations to come. Here’s what you need to know before hiring us:

What Is Estate Planning?

Estate planning is a coordinated effort to ensure that your assets are organized and secure in the event of your passing. It includes preparing wills, trusts, powers of attorney, and more to help minimize tax liability, avoid unnecessary probate proceedings, and protect your legacy for future generations.

How Does Estate Planning Work?

Estate planning denotes figuring out what will happen to an individual’s assets after they pass away. It also encompasses making decisions about how someone’s property and money will be managed if they cannot make those choices themselves.

Individuals’ estates may include houses, cars, stocks, artwork, life insurance policies, pensions, and debt. People plan their estates for different reasons, such as preserving family wealth or providing for spouses and children. Some want to fund grandchildren’s education, while others wish to leave a legacy behind through charitable donations.

Major Estate Planning Tasks

When creating an estate plan, we first focus on writing a will. Other major estate planning tasks include:

  • Limit estate taxes by creating trust accounts in the names of beneficiaries
  • If you have young children or other dependents, it’s important to establish a legal guardian in case something happens to you
  • Choosing someone to handle your estate after you die
  • To update or create beneficiaries on plans like life insurance, IRAs, and 401(k)s
  • Arranging a funeral
  • Reduce the size of your taxable estate by establishing annual gifting to qualified charities and non-profits
  • A durable power of attorney allows you to appoint someone to direct your assets and investments.

Crucial Steps To Take

We focus on two main steps for completing your estate planning:

Writing a Will:

This is the most important step in estate planning, as it dictates what will happen to your assets after you die. Here, we identify your property and possessions and ensure they’re distributed according to your wishes.

Updating Beneficiaries:

Adjusting beneficiaries on insurance policies, retirement funds, and other financial accounts ensure that these assets will be passed on to the people you designate. This is a crucial step in estate planning that ensures your wishes are fulfilled after death.

Appointing the Right Executor:

Selecting the right executor helps minimize confusion and conflict after your death. We work closely with you to identify a trustworthy individual who can manage your estate following your wishes, protect the legacy you leave behind, and continue building upon it for future generations.

Planning For Estate Taxes

Before assets are distributed to loved ones, federal and state taxes significantly lower an estate’s value. This means that after a death in the family, there can be substantial amounts of money owed in taxes – leading families to strategize ways to reduce, eliminate, or at least postpone these tax payments.

During the estate-planning process, we take the following steps for our customers to reduce the impact of these taxes.

  • Set up an AB Trust that divides into two after the death of the first spouse
  • Transfer assets to an entity before death for current or future funding
  • Give to charitable organizations while alive
  • Locking in the current value, and thus tax liability, of their property while attributing the value of future growth of that capital property to another person

Legacy Planning: Creating A Plan For Your Estate

You can rely on our team to provide the highest professional standards and personalized advice if you’re looking for a comprehensive legacy planning service. Our knowledgeable advisors guide our clients through the entire estate planning process – from creating trusts to protecting assets – mapping out each step along the way. 

What is Legacy Planning?

Legacy planning, or estate planning, is making sure your assets are distributed according to your wishes following death. This includes setting up trusts, transferring property to loved ones, and working with an executor to ensure everything is managed according to your wishes.

Why Invest in Legacy Planning?

When a person passes away, their money and belongings are given to family or others named in the will. Without a plan for your estate, its management might go against your wishes once you pass away. Legacy planning is vital for small businesses or other properties requiring upkeep.

Are Estate & Legacy Planning any Different?

While estate planning and legacy planning are closely related, the primary difference is that estate planning focuses on managing assets during your lifetime, while legacy planning focuses on distributing these assets after you die. Both processes involve working with an advisor to create a comprehensive plan based on your goals, values, and needs.

How We Can Help Out

We are here to help you plan your legacy and assist with any questions or requests that might come up.

  • Our primary goal is to help you become financially secure so that you can have a comfortable life and leave wealth behind for future generations. However, many overlook that they must be financially stable enough to accumulate wealth before passing it down.
  • After addressing the issue of financial security, we advise you to ensure that your affairs are managed properly after they’ve been passed on. 
  • We can also assist you in donating any portion of your wealth to charity.
  • As a small business owner, you might be concerned about protecting your estate from legal issues or creditors. We can advise you on how to ensure that your assets are protected after they have been passed down.

Why Choose Nesso Wealth

Here are 5 reasons why our customer base remains loyal to our services:

  1. Our financial advisors are passionate about helping people from all walks of life achieve their vision of true wealth. 
  2. We understand that everyone’s definition of “true wealth” differs, and we will help you define and pursue your version. 
  3. With us, you get a personalized plan designed specifically for you and your goals rather than relying on a generic, cookie-cutter approach. 
  4. We are committed to the long-term success of our clients; we don’t focus solely on short-term gains or one-time transactions. 
  5. By utilizing our services, you gain access to our team’s expertise in securities, investments, taxes, and estate planning – ensuring all aspects of your financial portfolio work harmoniously to achieve maximum returns. 

Plan Ahead with Our Nesso Wealth Management Services in Milldale, CT

Our firm is committed to providing our clients with the highest quality estate and legacy planning services. Whether you’re looking to create a will or transfer assets to your loved ones, our experienced advisors can help you plan for the future and ensure your wishes are fulfilled after death.


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