Estate Planning and Financial Planning Are Not the Same Thing

Today is the day after Christmas, 2009. I’m gearing up to try to write something interesting, regularly, about my estate-planning law practice.

As to the above topic, my friends, acquaintances (and clients) sometimes think that estate planning and financial planning are the same things. They’re not. Here’s a short distinction.

Estate planning is your will or trust (or other entities designed to protect assets from various perils). An attorney usually handles your “estate planning”.

Financial planning deals with selecting investments to accomplish your financial goals. A financial advisor, stockbroker, or financial planning help with your “financial planning.”