Just predicting the future and letting it run its course is not planning. Planning is when you take identify steps that you can take now to shape the future and change it for the better. You do not tax plan just by predicting how much money you will have to pay at the end of the year. You plan by deciding what you can do now to lower that future bill. Then seeing it through.
The same is true for business planning and estate planning. You are going to die. Your stuff will be passed to someone else. Planning just to transfer the assets is not a plan. A plan will help you do things with those assets to make sure they take care of your family when you are gone.
Planning is about people. Too often we focus on the things. We focus on taxes or we focus on the business and the heirlooms. Don’t forget that the purpose of planning is people.
Planning is about our loved ones, our employees, our customers, and the other people in our lives. It is about a result or a goal that enhances our lives and theirs. The plan itself is about taking steps and actions to achieve those outcomes to enhance people’s lives.
The things and the money are the fuel for that process. We use them along with our other talents to achieve the goals. We just got out of tax season. Many people are focused on planning right now. It is just that they are focused on the dollars and cents. We should look to the people first.
If you have more questions or would like to schedule a planning session, click here.