Many of us have a stack of mail on the counter, on our desk or in a drawer labeled “I’ll get to it later.” Probably in that stack of mail is the annual enrollment guide for the company you work for, explaining the upcoming year’s benefits and options. You have some time before the deadline. Plus, you like what benefits you picked for this year so why bother looking through the brochure. You tell yourself that you will probably end up picking the same options. You certainly would never take it to your financial advisor, right?
Dekker Financial Services looks at the entire financial picture. Protection of your income and assets are of extreme importance. What benefits are available that you never thought of looking at before? What about your Health Savings Account option? HSAs are a great way to maximize your pre-tax dollars and build your savings for future healthcare expenses. The maximum contributions to HSAs are increasing for 2018, so now you are able to add even more to your account. While you are looking, check out the Dependent Care Assistance Program to see if this program would apply to your circumstances. Did you ever think that you may be able to address some tax issues when you sign up for your benefits?
Do you have a revocable living trust? This document is an important planning tool to determine who will get your property when you die. Revocable means that you can change your trust as your circumstances in life change. With a trust, you can avoid probate and keep your document private after death.
Now regarding that stack of papers and the annual enrollment guide buried somewhere in the pile, it’s time to dig it out. See if your company offers a prepaid legal plan. Opting into a prepaid legal plan now can save you money setting up a trust. We at Dekker Financial Services believe that a revocable living trust is often part of a smart financial plan. Call us to discuss whether or not you should include a trust in your financial picture.