The 13 Wealth Management Issues

At Krpalek Financial Services, we believe there are 13 wealth management issues that are crucial for every person to address. Through a holistic approach, we address each of these issues and determine which ones are most important to you. Our goal is to help you build wealth during your career, preserve it in retirement, and leave a legacy when you’re gone.

1. Investment Issues

How you build and preserve your wealth can impact your ability to live your desired lifestyle. To create a sound investment strategy, we start with a detailed evaluation of your risk tolerance, time horizon, short-term goals and long-term needs. All of these elements will drive the asset allocation and structure of your portfolio.

2. Insurance Issues

Insurance is an important part of a complete financial strategy. Without the right type of insurance to protect your assets, you could be leaving yourself vulnerable to unnecessary risk. It’s critical to ensure you have a strategy to protect your assets and avoid potential financial losses. With access to a wide array of fixed insurance products, we help you determine what type of coverage is appropriate for your circumstances.

3. Liabilities Issues

It’s important to manage both the development of your assets and the liabilities. Having debt doesn’t have to be a bad thing and entirely eliminating it isn’t always a good thing. If proactively monitored, debt may help manage taxes and keep your assets moving toward your long-term goals. We can help you implement strategies designed to help you avoid liquidating your assets so you can keep them invested in the pursuit of your objectives.

4. Retirement Issues

Many clients planning for retirement are focused on preserving their wealth and creating a continuous income stream that lasts through retirement. We seek to identify opportunities for building a consistent income that will last through retirement and help them determine when they may be able to retire.

5. Stock Options

As an executive, you may be offered stock options within your corporate benefits plan or compensation package. Choosing the right ones that align with your investing profile and other strategies can be difficult. We can help you navigate your opportunities and evaluate timing, tax implications, transferability and diversification.

6. Business Succession Planning Issues

Have you ever considered how your business would operate without you at the helm? Succession needs can occur before your planned time horizon, which is why it’s just as important to plan for the “what ifs” as it is to plan for “what’s next.” We can create a succession plan that aims to help you retire on your schedule, calculate your business’ future needs, and efficiently transfer your business to a buyer or successor.

7. Durable Power of Attorney Issues

It’s not always a comfortable conversation to have, but it’s important for you and your loved ones to decide what would happen if you had an accident or became incapacitated. If you haven’t chosen someone to act on your behalf, you may instead have someone appointed by a court. We can help ensure a professional is there to help make decisions that are in your loved ones’ best interests and help appoint a durable power of attorney.

8. Gifting During Life Issues

While estate planning can provide for your heirs after your death, transferring wealth to loved ones during your lifetime has its own challenges. Through gift planning, you can pay for a child’s education, reduce your taxable estate, and more. We work with your attorney and CPA to help you address the many factors of gifting and how it may impact your financial strategies.

9. Charitable Gifting During Life Issues

Beyond your loved ones, there may be charitable organizations you wish to support. We can help you determine appropriate and tax-efficient ways to give back to the community, whether it’s through a scholarship, trust, or other solution.

10. Titling of Assets Issues

In the estate planning process, the proper titling of assets is frequently overlooked. This could expose your heirs to unwanted tax and wealth transfer issues. We can help you determine how to title assets and ensure they match with the goals of your overall financial plan.

11. Executor/Successor Trustee Issues

During the estate planning process, a critical element is choosing a trustee or executor. It’s important for your executor or trustee to understand your investment strategy and how to ensure its continuity. We work with you and your executor or trustee to address these matters and provide insight and guidance.

12. Distribution Plan at Death Issues

When it’s time to distribute your wealth, minimizing your estate tax exposure and avoiding probate is important for both you and your heirs. An efficient estate plan not only incorporates tax reduction strategies to save on probate fees but also aims to ensure that your assets transfer to your desired beneficiaries. We work with you and your other professionals to determine a plan suited to your family’s needs.

13. Charitable Inclinations at Death Issues

Similar to leaving a legacy to your family, making charitable donations at death also requires planning to determine the most tax-efficient methods. We help you determine appropriate strategies based on your specific needs, whether it is a direct gift, donor advisor fund, private foundation, or trust.


LPL Financial Representatives offer access to Trust Services through The Private Trust Company N.A., an affiliate of LPL Financial.