Planning Services

Estate Planning (Wealth Transfer)

Strictly defined, estate planning is the process of accumulating and disposing of an estate to maximize the goals of the estate owner. For most people, the main goal is to try to transfer the greatest possible amount of the estate to the owner's intended beneficiaries. Many people are concerned that estate taxes will consume a good part of their wealth they wish to leave to their heirs. Saying who gets your estate when you're gone is the easy part. Some people make simple mistakes that sabotage their plan – such as not putting the investments in the estate’s name. We will carefully take you through the planning process, ask way too many questions and create a plan that works best for you.

Retirement Planning

Planning doesn't have to be difficult – but it does need to be specific to your unique situation. Polaris doesn’t define your situation based just on your age and income levels – we want to understand your goals and principles. That way, your investments reflect you.

The first step is answering three questions every year with regard to your retirement. Where do you want to be when you retire? What is your timeline for getting there? Where are you now in terms of getting there? Once we do this, then we can start discussing investment vehicles and which are best suited to be part of the your plan.

Divorce Planning

The financial ramifications of a divorce can be devastating. The failure to adequately address your financial future during the divorce process can be equally devastating. Polaris Financial Planning can help you make sure that the divorce process addresses your long-term financial needs. A qualified financial planner can help identify your future financial needs and forecast the short and long term effects of settlements.

By using a financial planner experienced the divorce process; both partners have a clearer view of their financial futures. Only then can they approach a settlement that fully addresses the financial needs and capabilities of each.

Tax Planning

Taxes are the definition of complex. Luckily, there are experts in this field and working with them is a big part of most Polaris plans. Whether to file jointly or separately, when to sell an asset, when to receive income, leasing versus owning, corporate dividend or income – all are examples of tax planning. We make sure we know the answer to these questions when crafting your financial strategy.

1031 Exchanges

A 1031 exchange, otherwise known as a tax deferred exchange, is a method for selling a qualified property, and then proceeding with an acquisition of another qualified property within a specific time frame. Polaris can help you determine what options are available, and how to best approach these exchanges.

There are several restrictions associated with a 1031 exchange. Properties must be held for productive use in a trade, a business, or as an investment. The investor must identify the replacement property within 45 days from closing on the sale of a relinquished property and the new property must be acquired within 180 days of the original sale. Properties must be exchanged solely for a “like-kind” property. Also, the seller must not directly receive funds from the sale of the relinquished property.

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