Simply put, a beneficiary designation tells a financial institution (such as a bank, brokerage firm, or insurance company) what to do with your financial assets if you pass away.

The way we see things, the work doesn’t stop just because we’ve helped our clients tackle the problems that brought them to our door. We’re always looking for ways to add value to our clients’ lives. And sometimes, the best thing we can do is be there during those important life events when they need us the most. Here are 7 examples of those significant life events that we help our clients with.

Most people might believe that taxes should be left to the accountants. At Lawrence Financial Planning, we believe that most tax returns should be prepared by a tax professional. But we also believe there are many tax-related things a financial advisor can (and should) do for their clients. That’s why we help our clients each year with tax planning.

When you retire, things change. After all, you no longer have the stability that comes from having a steady job or owning your business. And the simple mindset of “spend less than what you earn” no longer applies. So, you might have more questions than answers as you enter this new phase of life.

Small business owners and real estate investors both understand that taxes can be considered a filter on how much wealth you accumulate. Early on, they hire accountants to help them avoid tax mistakes and to ensure their business decisions are tax-savvy ones. This allows them to keep as much money as possible to reinvest in their businesses, which in turn allows them to accumulate wealth. This also assumes that a successful small business owner or real estate expert is expert in their field.

Years after their deaths in 2016, Prince and David Bowie have drawn numerous comparisons from admirers. They both had edgy musical styles that captivated millions of people. They both created numerous hits over several decades. They both courted controversy. And they both amassed hundreds of millions of dollars over the course of their star-studded careers.