Build Your Estate, Business & Financial Planning In CA

What Is A Financial Planning Pyramid?

Estate, business & financial planning in CA may sound complicated but wisely managing your finances plays a big role in reaching your life goals. Do it by taking into account a financial planning pyramid. A financial planning pyramid is a very useful tool in setting up and securing your finances. It shows a hierarchy of financial needs that can help you determine what you need to do and when you need to start. 

The model is based on an idea in psychology presented by Abraham Maslow in 1943. Maslow’s hierarchy of needs is a theory that shows different levels of human needs. It is presented as a pyramid where the lowest level shows the most basic needs and it moves up to the most advanced level. The theory emphasizes that humans are motivated to accomplish their basic needs first before moving on to higher levels of needs. 

The same is true for a financial planning pyramid. It begins with the lowest level of financial needs which a person has to accomplish first before carefully proceeding to higher levels. The lowest level of a financial planning pyramid is presented to provide a more solid foundation for people who wish to have a more stable financial standing. 

It is generally advisable to begin with the lowest of levels before slowly moving your way up to achieve maximum financial success. The pyramid begins with the protection of wealth or financial planning, the middle for wealth accumulation or business planning, and the tip for the distribution of wealth or estate planning. Taking into consideration all these levels is important in estate, business & financial planning in CA.

Financial Planning & Where To Start

Financial planning begins with identifying a person’s current financial state and future financial goals. To create a strong financial plan, several steps are necessary: 

  • Calculating your current net worth.
  • Determining the flow of your cash.
  • Identifying your goals and priorities.

To complete these steps, there are certain financial plans that are available.

Long-Term Care Insurance

A lot of people nowadays are starting to consider the possibility of not having anyone to take care of them when they get older. For this reason, they spend most of their lives building their careers and earning a lot of money. They continually increase their savings that can be used to maintain a certain standard of living once they get older. But is this the right way to ensure your financial stability in the future? Many unexpected circumstances may arise and this can lead to the depletion of your savings. It is imperative to acquire long-term care insurance to avoid being in such an unpleasant situation.

Long-term care insurance is a private coverage available for people aged 65 or older. This helps cover the costs like nursing home care, home care, or adult day care. It is care that is available for 65-year-old people or those with chronic medical disorders. 

Availing the long-term care insurance at the right period of your life is important. It is ideally done when you are in your 50s or 60s since long-term care insurers don’t usually grant this coverage to people over 75. Proper estate, business & financial planning in CA can help obtain the most favorable long-term insurance for you. 

Life Insurance Planning

Similar to how people think about their life after retirement, some also carefully consider the financial implications of their passing. Life insurance plans involve a contract between a policyholder and an insurer. The policyholder holds a life insurance policy by regularly paying a certain amount of premium throughout their life. The life insurance policy guarantees that a sum of money will be given to the named beneficiaries once the policyholder dies. 

Life insurance planning plays an important role in estate, business & financial planning in CA. Life insurers do not just grant anyone a life insurance policy. Several factors are taken into account. One example is a person’s past and current health condition. Two major types of insurance are available. Seeking the help of financial planners and attorneys in California who are well-versed in estate, business & financial planning in CA can help determine which type is best for you.

Term Life Insurance

As what can be taken from the name itself, a term life insurance is one that lasts for a particular number of years. This can vary but common terms are 10, 20, or 30 years.

Permanent Life Insurance

Contrary to term life insurance, this type of policy guarantees that a policyholder stays insured for the rest of their life. The policy is only terminated when the holder fails to pay the regular premium or decided to end the policy. Since it covers an insured’s lifetime, it is naturally more expensive than term life insurance. 

Disability Income Planning

This is a type of insurance policy that provides income to people who suddenly become incapable of working because of a disability. Disability income insurance, or DI insurance, can provide relief to people in case they experience accidents or illnesses that render them unable to work. Disability income insurance may come from:

  • Disability income insurance paid by an employer.
  • DI insurance from a private insurance policy. 
  • Social Security disability benefits.

Policy providers consider some factors before granting a DI insurance policy. These include a person’s age, job, and income. A work environment that presents a high risk of injury might require a larger amount of premium payments. In addition, a higher income also means higher regular payments to the insurer.

Retirement Income Planning

Now that you have taken into consideration insurance policies that will take care of you when you get older or experience unfortunate accidents, it’s time to look into your retirement. As the labor market becomes more competitive, it might be difficult for a person over 60 or 65 to find a job that can sustain their everyday living. Not only this, a senior citizen might not have enough energy to be able to work every day to earn an income that will let them live their desired standard of living. A good retirement plan can help reduce, if not eliminate such worries. With the proper estate, business & financial planning in CA, a person can prepare better for their retirement even if they become less capable of working. 

Retirement planning involves identifying your retirement income goals. It means understanding possible sources of income, expenses that might be incurred in the future, as well as having a savings program. Retirement planning can be a long process and it is better initiated early. Including it in your financial planning will help you design a retirement plan to guarantee a secure and fun retirement.  There are several types of accounts that you can use to invest in for your retirement planning. Some of them are:

  • Traditional 401k plans.
  • High-yield savings account.
  • Traditional individual retirement account (IRA).
  • Roth individual retirement account.
  • Roth 401k plan.

Business Financial Planning

To be able to create a good financial plan that can provide a decent standard of living and secure retirement, it is important to learn how to better accumulate wealth. With the right estate, business & financial planning in CA, you can feel more confident in using your money to establish better sources of income.

Business Entity Formation

Many individuals make a living by working for 8 hours, or more, as an employee. Some of them receive enough salary to maintain their desired standard of living. However, this might not be true for some people. Whether it is because they believe they are not earning enough as an employee or they simply just want to be their own boss, there are those who want to use their skills, and maybe luck, in building their own business. 

Setting up your own business entity can be complicated and tiresome. There are factors that must be considered like what kind of business it will be, how it will be created, and where is the funding going to come from. In order to guarantee that you will not be wasting time, effort, and money in trying to form your own business, it is vital that you find the right people to help you with it. Having someone skilled in estate, business & financial planning in CA next to you can ensure a smooth process of forming your chosen business. 

Asset Protection

Asset protection is a necessary step taken to guard a person’s wealth. Having successfully formed a business, a person might enter into transactions that can eventually lead to a certain amount of debt. Asset protection is an essential part of financial planning to ensure that a business or even an individual’s assets can be protected from creditor claims. It is composed of some strategies that can keep valuable assets from being taken. 

Estate Planning

Building your wealth and successfully protecting your valuable assets throughout your lifetime is good, but what happens when death comes knocking at your door?

An individual must know what happens to their assets after death. Estate planning is a set of steps that can be taken to prepare for this. It is the determination of how assets will be preserved, managed, and given to heirs or beneficiaries after the death of a person. The preparation involves various steps like making a will, making charitable donations, and setting up trusts. Plan your estate now by letting someone experienced in estate, business & financial planning in CA assist you. 

Last Will & Testaments

The last will and testament is one of the first and most common documents prepared in estate planning. It is a legal document that clearly states how a person’s assets will be distributed in the event of incapacity or death. It indicates whether they want to transfer their properties to their descendants or heirs, a certain group of individuals, or to donate them to charity. 

Last will and testaments are drafted while an individual is alive. It is done by a person writing down what they wish to happen to their assets upon their death. These instructions will then be carried out the moment the individual dies. A person creating a will and testament delegates someone as an executor. The executor is a trusted individual that will carry out the wishes of the deceased person. It can involve assets like money in savings accounts, properties, or business interests. Writing down on paper where these assets go can also avoid unnecessary conflicts between family and close relations of the deceased.

It is vital that a last will and testament is drafted carefully to truly convey what a person wants to happen to their assets in cases where they become incapacitated. Proper estate, business & financial planning in CA can make certain that the distribution of a person’s properties upon their death is stated clearly in a legal document. 


A trust, similar to a will and testament, also ensures that a person’s assets are transferred to their designated beneficiaries. A grantor, also called a trustor, will clearly determine which of their properties will be given to a trustee. But what makes it different from a will?

There are several differences between a will and a trust. Unlike wills that are only executed upon the death of a person, trust is an agreement that allows the transfer of properties to a trustee even while the trustor is alive. A trust clearly identifies how the properties will be distributed to one or more beneficiaries or how they will be disposed of. A trust can be either revocable or irrevocable. 

A revocable trust is a trust that can be amended or terminated anytime, while irrevocable trusts are those that cannot be altered or ended by the grantor. In an irrevocable trust, the trustor gives up control and ownership of the asset. The right estate, business & financial planning in CA can help determine the benefits of having one or both types of trusts.

Charitable donations

Whether it’s because it is your nature to help and give to others or you simply want to reduce your estate taxes, including charitable donations as part of your estate, business & financial planning in CA is important. There are different types of assets that may be given as charitable donations: 

  • Gifting specific assets.
  • Gifting cash.
  • Donations to community foundations.
  • Gifting life insurance.
  • Leaving in your will a charity donation.
  • Gifting through charitable trusts.

Importance Of Estate, Business & Financial Planning In CA

Estate, business & financial planning in CA is a vital step to achieving financial stability during your lifetime. At the same time, it ensures that everything you have ever worked for will be properly distributed to the people or organizations you care about. 

The process begins by creating strategies that guarantee that your assets are well protected. Individuals work hard their entire lives to earn these assets and it is vital to avoid any possibility of losing them. It is essential to have the confidence that your finances are secured to have the courage to venture into other areas like starting a business or making some investments. 

It is only then that one can feel a sense of security that they will be leaving their loved ones with enough property to help them live their own lives. These can be arranged with the help of professionals that are experienced in estate, business & financial planning in CA.

Financial Planner Or Estate Planner?

Both. A person can get a financial planner and an estate planning attorney to secure a decent financial standing while having the guarantee that his assets will be well protected during their lifetime and after death. It is essential to take into consideration to protect the future of your children and their education, retirement for you and your spouse, or even just to maintain the family’s current standard of living. 

A financial planner generally focuses on helping you identify your financial goals. They will assist in creating strategies and offering techniques that will help accumulate wealth and maximize your financial standing. On the other hand, an estate planner is generally an attorney who can help ensure your control over these assets and their disposition. 

Thinking about these may look and sound complicated, but with the right people by your side to discuss the process and walk you through it, you can have more confidence in protecting your assets and rights.

Protect Your Assets Now

Begin building your financial planning pyramid by initiating an estate, business & financial planning in CA with experienced attorneys and financial advisors. Moore Family Law Group can help you find the best strategies and solutions in dealing with such legal matters. The firm understands that it requires a lot of time and effort to achieve and maintain a certain level of financial position. Moore Family Law Group’s legal team is standing by ready to protect your rights and interests.

To further assist and offer effective legal counsel to clients in need of such service, Moore Family Law Group is working hand in hand with financial partners to ensure that their client’s goals and interests are well protected.

Call Us For A Complimentary Case Evaluation Financing Options Now Available! (951) 463-5594