Each family is unique in their goals, propensity towards risk and ability to save, so designing a plan must fit their unique style. Cookie cutter solutions will not work.
The first step would be to sit down with the couple so that they could individually verbalize their concerns and goals. This can be a key part of the process, because typically couples never have this fundamental planning conversation. We can help them open up and discover what is important to them.
Through our conversations, and by analyzing their past investments, we can identify exactly how much of their income is allocated to qualified plans through their employer, education funding, short term savings, and insurances. We also can help determine how much debt they carry and tailor a plan that balances debt repayment with new investments.
Oftentimes, parents, in the event that something happens to them, have not identified how to protect their children through the use of wills and trusts. None of these are easy conversations (such as deciding on caregivers) and many people avoid them. We can help facilitate these conversations and work through the difficult decisions together.