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Dependable Midwestern Financial Advisors

Estate Planning

What is Estate Planning?

Estate planning ultimately results in your attorney drafting the required documents to execute estate planning strategies and tasks that represent your best interests, goals, and resources. At the foundation, the basic estate planning documents help manage this distribution of assets in the event of one’s incapacitation or death. This planning usually details the bequest of assets to your spouse, heirs, charity, and the settlement of estate taxes.

Foundational estate planning documents:

  • Will & Last Testament
  • Healthcare Directive
  • Financial Power of Attorney
  • Revocable Living Trusts

One of the more central and immediate priorities is to determine how an individual’s assets will be preserved, managed, and distributed. 

For reference, assets can include:

  • Real estate
  • Business interests
  • Cars
  • Investment assets
  • Artwork
  • Life insurance
  • Pensions
  • Debt

A more long-term goal for estate planning is the preservation of family wealth, building out a livable income for a surviving spouse and/or children, funding a relative’s education, leaving assets to a charity or nonprofit organization, or a combination of all these items.

All these above actions are determined by what is ultimately written in the individual’s will—which can be created before, or modified during, the estate planning process. 

What can you expect from Estate Planning with Midwestern Financial Group?

Our major goal with estate planning is to keep you abreast of the current tax laws, especially regarding estate tax. Without careful monitoring and consideration of these laws, many people might not gain as much of an advantage as they could, so we make sure to keep our clients up-to-date and aware of the laws, any changes that might occur, and how those laws affect them. One question we really like to ask is: “How can we mitigate today, and in the future, any possible tax liability with your other goals in mind?” 

For many of our clients, this could mean making sure they their will is established as a formal document established and reflects current wishes. It could also mean discussing healthcare directives, or we’re even willing and able to have conversations with lawyers and attorneys in regards to any possible trusts that you might want to design for your family members or other parties.  

As always, the most important aspect of the plan for us is how it meets the goals you have in mind for both the present and the future.   

Midwestern Financial Group: Your Trusted Local Fiduciary

At MFG, we pride ourselves on being a fee-only financial planning firm that always has our clients’ best interests at heart. We offer detailed investment and financial analysis to help individuals, families, and businesses build their financial future with confidence. Because we don’t sell any products or take commissions, you can be sure that our advice is unbiased and truly in your best interest.

If you’re looking for help with your finances, our professional financial advisors can assist you with a wide range of services. We can help you create a college savings plan, invest your money, and manage your assets so that you can achieve your financial goals. Whether you’re based in Iowa or elsewhere, we’re here to help you make the most of your money.

Fiduciary Advisors
How Our Process
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1. Introduction

First, we get to know each other— what your life is like, what is most important to you, and what your hopes and dreams are. We’ll help you get to know us, too. We believe that honesty and trust are key to fostering a productive advisor relationship.

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2. Goal Setting

Next, well review your financial data to get a sense of where you are today and how we can improve your financial future. We brainstorm goals unique to you and assess what future liabilities may be present, so we can plan for those as well.

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3. Planning

Our advisors then prepare a recommended financial plan focused on hitting your personalized goals. Our fiduciary standard ensures that recommendations are in your best interest — not to sell financial products or generate commissions.

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4. Management

After we implement the recommendations, you can rely on us to constantly monitor outcomes and track the progress towards your goals. We’ll work together to adjust the plan for life changes or market returns.

Midwestern Financial Group
The dedicated team you need.
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Joseph Jay, CFA
Founder & Managing Partner
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Patrick Campbell
Founder & Managing Partner
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Andrew Picchietti
Associate Advisor