Picture this: you’ve spent years, perhaps even decades, building a successful career, accumulating wealth, and creating a legacy. You have a portfolio that makes even the most seasoned investor tip their hat.

But amidst all the hustle and bustle of your thriving life, have you stopped to consider what happens to everything you’ve worked so hard for when you’re no longer around?

Estate planning—two words that might not be on your mind as you jet-set from one business meeting to the next, but trust me, they should be. 

At Brogan Financial, we believe estate planning is essential to securing your financial future and protecting your legacy. That’s why we are dedicated to helping our clients navigate the complexities of estate planning, ensuring that their hard-earned wealth is protected and their vision for the future is realized.

Because here’s the thing: it doesn’t matter how much money you have or how successful you are – without a proper estate plan in place, your wishes may not be carried out, and your loved ones could face a legal and emotional nightmare.

The Stakes of High Net Worth

You see when you’ve got significant assets, the stakes are even higher. 

Without proper planning, your estate could be subject to hefty taxes, your business could face uncertainty, and your philanthropic goals may not be achieved. 

And let’s not forget the potential for family conflicts and lengthy court battles. No one wants to see their hard-earned wealth tied up in legal disputes for years on end.

So, you need to have a proper plan in place. If you are not sure where to start, you can check out this easy-to-follow guide here.

Key Estate Planning Documents You Need

So, what exactly do you need to protect your assets and your loved ones? Let’s break it down:

  • Will

First and foremost, you need a will. This legal document specifies how you want your assets distributed after you’ve passed on. It also names an executor (the person you trust to manage the distribution of your estate) and can even designate guardians for any minor children.


Now, the problem for high-net-worth individuals is that a simple will might not cut it. You may need to consider more advanced strategies like trusts to minimize taxes and protect your assets from creditors and lawsuits.

  • Living Will and Powers of Attorney

Next, we have powers of attorney. These are crucial documents that come into play if you become incapacitated and cannot make decisions for yourself.

  • Medical Power of Attorney

This document designates someone to make medical decisions on your behalf if you’re unable to do so. It ensures your healthcare wishes are carried out, even if you can’t communicate them yourself.

  • Financial Power of Attorney

Similarly, a financial power of attorney authorizes someone to handle your financial affairs if you become incapacitated. This is especially important for people who have complex financial portfolios and business interests.

  • Living Will/Advanced Medical Directive

Last but not least, we have the living will (also known as an advanced medical directive). This document states your wishes for end-of-life medical care. It specifies whether you want life support or other measures taken and guides your medical power of attorney and healthcare providers.

  • The Power of Putting It in Writing

Now, we know you’re a busy person, and estate planning might not be at the top of your to-do list. But honestly, taking the time to put your wishes in writing is one of the most important things you can do for yourself and your loved ones.

By having a clear, comprehensive estate plan in place, you’re not only protecting your assets, but you’re also providing a roadmap for your family to follow. They’ll know exactly what you want, and they can take comfort in knowing they’re carrying out your wishes.

Plus, having an estate plan becomes increasingly important as you age and the likelihood of incapacity increases. It can even help avoid the need for court involvement in your matters, which can be especially important if you value your privacy.

Avoiding Common Estate Planning Pitfalls

Of course, even the most well-crafted estate plan can fall short if you’re not careful. Here are some common pitfalls to avoid:

  1. Not keeping beneficiary designations up to date on accounts like life insurance and retirement plans. These designations override your will, so it’s crucial to keep them current, especially if you’ve had changes in your personal life, like a divorce or the birth of a new child.
  2. Failing to review and update your estate plan regularly. As your life circumstances change, so should your estate plan. Major life events like marriages, divorces, birth or death in the family, or the sale of a business should trigger a review of your plan.
  3. Not properly titling assets or using joint ownership. This can lead to unintended consequences and can even override your will. Working with a financial advisor who works closely with your attorney is important to ensure your assets are titled correctly.
  4. Neglecting to plan for the possibility of long-term care needs. As you age, the likelihood of needing long-term care increases. Without proper planning, the costs of this care can quickly deplete your assets, leaving less for your loved ones.

Work with Us

At the end of the day, estate planning is about more than just distributing your assets. It’s about securing your legacy and ensuring that your hard work continues to bear fruit long after you’re gone.

At Brogan Financial, we GET IT. We understand that estate planning can feel overwhelming, complex, and let’s be honest, not exactly the most thrilling topic to think about.

But here’s the thing: Your legacy? It’s too important to leave it to chance. That’s where we come in. Our team of seasoned estate planning pros is here to guide you every step of the way. To craft a plan that’s as unique as you are. To ensure that your wishes are carried out and your loved ones are taken care of… long after you’re gone.

So whether you’re just dipping your toes into the estate planning waters or need to update an existing plan…We’ve got you covered.

Together, we’ll create an estate plan that doesn’t just reflect your values.

It PROTECTS your values.

Remember, your legacy is too important to leave to chance. With proper planning, you can ensure that your wealth, your values, and your vision for the future live on long after you’re gone. And that, my friend, is worth its weight in gold.

Want to know how to build long-term wealth? Join our radio show “More Living with Jim Brogan” live from the Brogan Financial Studios at NewsTalk 98.7.