Good Planning Comes Down to Listening to Your Needs and Proper Preparation.

Imagine working hard for your entire career and arriving at a healthy and happy retirement.  On the first day of your retirement you will be faced with some key decisions:

  • Which assets are you going to liquidate to meet your retirement income needs?
  • How do you ensure that your asset allocation protects against market volatility?

One of the values of Financial Planning is that we can look globally at assets, ensuring that your overall allocation meets your objectives and risk tolerance.

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Reviewing Your Assets

Over the years, you’ve likely purchased insurance products including annuities, life insurance, disability insurance and long term care benefits. Odds are that your needs have changed since you purchased the policy and it has been some time since you have reviewed those policies.  Also, it is likely that you purchased these policies under older mortality and morbidity tables.

At Central Trust Company, we can review your policies on a complimentary basis. During a review, we often find three underlying issues: 1) Beneficiaries need to be updated; 2) Clients do not understand the form and function of their policies; 3) Some policy designs have become antiquated.  We can perform a thorough and professional review of these policies.

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What is the purpose of a Financial Plan?

A Financial Plan is designed as a guidepost to your financial life.  It is a living document that should be updated on a regular basis.  It should not be a document that sits on a shelf or is a one-time endeavor.

We advise clients that a Financial Plan might be shared with their CPAs and Estate Planning Attorneys, to ensure that their plan meets their wishes and is fully synchronized.

Additionally, we recommend that a Financial Plan be kept in a safe place, in case of emergency.  The reason is that the Plan contains an inventory of all of your assets and can be quite helpful to your beneficiaries and those who might hold Durable Power of Attorney powers.

Types of Financial Planning | Helping Answer Life’s Biggest Questions

Asset Allocation Planning


Do my non-Central Trust Company investments fit into my overall goals and objectives?

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In this analysis, we will determine your proper risk tolerance by assessing objective measures. We will determine how much risk you can tolerate in light of your specific goals, and determine whether you are taking appropriate risks with your present investments. We then analyze how an ideal investment portfolio might look for you, taking into account the above factors, and will make specific recommendations. Finally, we stress test our findings using a sophisticated probability analysis, based on thousands of iterations.

Retirement Planning


Do I have the assets needed to satisfy my retirement income goals?

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In this analysis, we determine whether you have enough money to retire, based upon your specific goals. This includes analyzing which assets you should liquidate and when you should withdraw them. We also look at the potential tax impact of doing so to your overall plan.



How do I pay for part or all of my children's educational expenses in a tax-efficient manner?

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Whether you are planning on paying all or part of education expenses for your family members, it is important to understand your funding options. It is also important to understand the escalating costs of tuition, room, board and books when creating your plan. This analysis will explain and analyze funding options and their potential tax consequences.



What would happen to my family if I died unexpectedly or became incapacitated?

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Unexpected death or incapacity can cause financial chaos to your family. This analysis will first review any existing life insurance you or your spouse might own and then determines its adequacy. A needs-based analysis is then performed to determine how much life insurance is needed, based upon your family’s unique needs.



How can I leave a lasting legacy for my family or community?

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You’ve worked hard to acquire your wealth and you worry about how to leave it behind. Given the ever-changing tax laws, how do you develop a lasting plan? In this analysis, we present a number of options to pass on your wealth without paying undue administrative expenses and taxes, including gifting and philanthropy.

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