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Estate Planning

How Financial and Estate Planning Work Hand in Hand

Aug-28 2023

Financial Planning and Estate Planning go hand in hand. As your client's needs evolve, so should the resources you offer. By working together to simplify the complex, they can focus on what truly matters: their lives and loved ones. In the US, 67% of Americans lack an estate plan and, as a country, we rank 14th in the Global Financial Literacy Survey. Planning for the financial future can feel complex and out of reach for some, and offering estate planning can help them make sense of the future and clarify what matters for their financial plan. 

Life Milestones for Financial and Estate Planning: 

While everyone benefits from having a solid plan in place, there are certain life moments when individuals and families should take action to protect their financial future. Estate planners and financial planners aim to reach their customers at similar life stages which is why it is imperative that financial planning and estate planning is done together - to ensure they receive ALL the resources they need when they need them.

Getting Married 

Newlyweds unite more than just their lives – they blend their financial dreams too. As bankers guide clients through the process of combining finances, setting goals, and preparing for milestones like buying a home or starting a family, crafting a will protects their wishes should the unexpected happen. With both financial and estate plans in place, couples secure not only their financial future but also the care of their partner. GoodTrust provides modern Estate Plans, including a Will or Trust-based plans, Financial Power of Attorney, Advanced Directives, and a Digital Vault.

Buying Property and Major Assets 

When purchasing a home, collaboration in planning for their finances and estate together is key. Financial experts ensure affordability and wise mortgage choices, while estate planning safeguards their investment through strategic ownership structures, tax benefits, and legal protection.

Having Children

Having children is one of the most common times individuals consider planning ahead. Bankers provide guidance in managing finances amid new family dynamics, covering expenses like education and childcare. Estate planning focuses on securing the family's future, assisting in guardianship decisions, and creating trust funds for their children's welfare. By combining these services, we can ensure that their growing family is not only financially prepared but also legally and emotionally protected for the years ahead.

Moving Up Career-Wise and/or Acquiring Financial Assets

When changing careers, getting a big promotion, or receiving new financial assets, individuals should review their financial plans to account for their new income. Further, moving up in the workforce and acquiring financial assets means updating important estate planning documents such as life insurance, wills or trusts, and more, to ensure all assets are properly accounted for and well distributed. 


Retirement is a milestone that benefits immensely from the cooperation of both financial and estate planning. Bankers provide expertise in managing retirement funds, offering tailored investment strategies to ensure financial security during the golden years. Meanwhile, estate planning focuses on preserving their legacy by crafting wills and trusts that distribute assets efficiently and minimize tax burdens. Together, these professionals ensure a smooth transition into retirement that not only safeguards financial well-being but also leaves a lasting legacy for generations to come.

At GoodTrust, we can assist in providing estate planning benefits to your bank customers, enabling you to prioritize your expertise in financial planning. Discover how partnering with us can elevate your services; get in touch today, here.