When you hear the phrase “estate planning,” your first thought may be of wills, legal documents, or a quiet meeting with a lawyer. But what is often overlooked is that estate planning isn’t just about legal checklists – it’s about financial clarity, family communication, legacy planning, tax planning, and long-term wishes. And it has the opportunity to work even better when your financial advisor is involved in the process alongside you, your attorney, and your tax professional.

At Kletschke Wealth Management Group, we’ve seen firsthand how one spouse will often lead the charge when it comes to long-term planning – balancing caregiving responsibilities, organizing household finances, and ensuring everyone in the family is taken care of. That can leave the other spouse or family members with unexpected outcomes, disagreements, or even hurt feelings. That’s why we believe involving your family and your financial advisor in estate planning conversations is important.

Estate planning decisions affect more than just assets. They have an impact on real people: spouses, children, siblings, and sometimes even close friends. Choosing who will manage finances or medical decisions in an emergency, passing down family property, or providing for a loved one with special needs – these are deeply personal choices. Too often, families are left in the dark until a crisis hits. By involving your family in estate planning conversations early, you can reduce misunderstandings, mitigate conflict, and ensure your intentions are clear and, therefore, honored. This is especially important if your plan includes things like leaving unequal inheritances or involves stepchildren. By working with Kletschke Wealth Management Group, we can help you gain clarity and devise a possible strategy before you meet with your attorney.

While attorneys draft the legal documents and your tax professionals give you tax advice, as your financial advisor, we can help you see the bigger picture:

• Understanding your full financial landscape. As your advisor, we take record of all your assets – retirement accounts, life insurance, investments, and real estate – with the goal of having your estate planning strategy align with your financial goals.
• Projecting future needs. We help you plan for longevity, healthcare costs, and income needs so you can pass on wealth without sacrificing your own retirement goals.
• Facilitating family conversations. We often act as a neutral third party by helping families navigate tricky dynamics, explaining complex topics, and striving to have everyone involved walk away feeling confident and informed.
• Keeping the plan updated. Life changes happen – marriages, births, divorces, business success, or market shifts. We endeavor to help you keep your estate planning strategy current and flexible and will encourage you to meet with your attorney when appropriate.

When is the right time to bring family into the conversation? There is no perfect moment, but here are some tips to get started:

1. Be clear on your values. What kind of legacy do you want to leave? What matters most to you … education for the grandkids? Support for a cause near and dear to your heart? Protecting assets from a spend-thrift beneficiary?
2. Set a time to talk. Consider holding a family meeting. Let your loved ones know in advance what you would like to discuss.
3. Bring in your financial advisor. If emotions or complexities arise, we can help keep the conversation grounded and focused on your goals.
4. Encourage questions. Give your family members the chance to ask about their roles – whether they will be an executor, power of attorney, or simply a beneficiary. The more they understand now, the smoother things may go later.

Estate planning can be emotional, but when done thoughtfully and collaboratively, it becomes more than just a legal process. It is a way to care for your family, express your values, and show the importance to future generations of planning ahead.

At Kletschke Wealth Management Group, we are honored to be guiding you and your loved ones through this process with clarity, compassion, and deep experience. From organizing your assets to coordinating with your attorneys and tax professionals as needed, we strive to make sure no detail is missed and that your family isn’t in the dark regarding your wishes.

Estate planning is a journey. We’re here to help navigate that path with you and your family as it relates to your overall financial goals. Contact us today to start the conversation.

Kletschke Wealth Management Group
400 Gold Circle, Suite 220
Dakota Dunes, South Dakota 57049
(712) 252-6931
KWMG@stifel.com