A Growing Issue: Protecting Your Family's Financial Future

Financial Planning

Raising a family is one of life’s biggest responsibilities and greatest joys. Establishing a straightforward financial plan when your children are young will help you maintain financial stability as they grow up. Protect your family’s interests and provide for their dreams by asking yourself the following questions: 

• Are we saving enough? Are we tracking our expenses accurately?
  • Are we maximizing our 401(k) withholdings?
  • What other savings vehicles should we consider?
• Should we use a 529, UGMA, 2503(c) Trust or Crummey Trust for our kids’ college tuition?
• Does our current asset allocation match both my needs and goals?
• Do we have the appropriate auto/home insurance coverage?
  • How do we determine the proper deductibles?
  • Do we have the right amount of liability insurance?
• Are our estate planning documents (Wills, Trusts, etc.) appropriate, up to date and consistent with current tax codes?
  • Should we have guardians for the children?
  • Trustees for the estate?
• Do we have the right amount and right type of insurance?
  • Life? Disability Income?
  • Are they coordinated with my other assets and legal documents?
• Can we afford a new home?
  • How should we finance it? 

With a growing family, your responsibilities grow, your financial goals and strategies have to keep pace, and myriad details impact your future.

Lenox Advisors can help. Our partners have the background and experience to guide you and your family past potential pitfalls while identifying unique opportunities. No matter what financial instrument we recommend, it will be part of a larger financial plan — one that you lead, based on your goals and your situation.

Our financial planning process is streamlined, providing a single portal through which all your financial matters can be efficiently managed and all your issues addressed. We coordinate all your financial affairs among all your advisors.

Your family needs protection and room to grow, as does your income, your estate and your plans for the future. But the time you have to spend on these issues does not grow along with them. Lenox Advisors will guide you around obstacles, offer opportunities and coordinate a financial plan your family can grow into.

The information provided is not written or intended as specific tax or legal advice. Lenox Advisors, Inc., its employees and representatives are not authorized to give tax or legal advice. Individuals are encouraged to seek advice from their own tax or legal counsel. Individuals involved in the estate planning process should work with an estate planning team, including their own personal legal or tax counsel. 

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