Wealth management is making decisions about your assets to help you pursue your financial goals. It covers various areas, such as investments in money, tax preparation, estate preparation, and other financial aspects. Connecticut residents can improve their wealth management by working with our financial advisors at Nesso Wealth. We aim to assist you in pursuing financial security and increasing and safeguarding your money. We’ll help clients requiring wealth management assistance with our financial advice and comprehensive services.

Our Services

Some of the services that we provide include the following:

Investment Management

We’ll collaborate with you to create an investment plan specific to your objectives and level of risk tolerance. We can also choose and manage investments on your behalf.

Financial Planning

You can create a financial plan with goals for saving, investing, and spending with the assistance of our financial advisors. They can also assist you with retirement planning, college savings, and other significant life events. As your circumstances change, we can periodically review these plans together.

Tax Planning

We can offer guidance on organizing your finances to reduce your tax liability as much as possible. This aspect is crucial if you run your own business or have several sources of income.

Estate Planning

Although this procedure may be complex, our professionals can aid you. With our help, you can plan for what will happen to your property after your death. You may have to name beneficiaries and create a trust or will. Your core beliefs, enduring memories, and personal values are a big part of estate planning. More than just your possessions, it means leaving a legacy.

Legacy Planning

Here, our advisors explain the distribution of your assets following your present estate plan and the tax regulations. To codify your intentions, they collaborate with our team of estate preparation professionals, lawyers, CPAs, and more. We want to give as much money as possible to your loved ones and the causes you care about while minimizing the administrative load on your estate.

Risk Management

Risk management identifies, analyzes, and responds to risk issues in your life. Our proactive approach allows us to find the hazards that pose the most significant harm to you. We’ll also be able to make recommendations for dealing with them efficiently.

By drafting a will or trust, doing routine updates and reviews, and other activities, we’ll help you integrate your estate plan with your financial strategy. Our advisors will assist you in addressing frequently disregarded details that pose severe threats and difficulties for your loved ones.

Risk Management Is Also Important In Business

In business, managing risk is recognizing and controlling all risks associated with a project, including their costs, how they’re dealt with, and potential repercussions. Estate preparation involves the following:

Examining likely suitable investment vehicles
Evaluating your level of risk tolerance
The definition of goals
Recommending adequate insurance protection

The primary objective is to prevent or reduce unfavorable events that could interfere with your goals. It aids businesses in locating, evaluating, and controlling risks that could slow down or interrupt their growth.

Who Needs Our Estate Plans?

You can safeguard property, assets, and money through our estate planning. Therefore, everyone should have an estate plan in place because it can prevent misunderstandings and legal complications for your family after your passing. With the aid of our estate plan, you may decide what will happen to your possessions in advance.

Our Process For Analyzing Risk

Risk analysis is a problem-solving technique that identifies and ranks hazards to evaluate and mitigate them.

1. We Identify Existing Risks

We’ll get to know you and your circumstances to identify your daily risks. For example, we’ll ask you about the following:

Your Job: If you work in a high-risk profession, you’re more likely to need estate planning services.
Your Family: If you have young children, consider including them in your estate plan so they can receive care if something happens to you.
Your Finances: We’ll ask about your income, debts, assets, and investments to get a picture of your financial situation. This information will help us recommend the best estate planning strategies for you.
Your Hobbies: People with risky hobbies, such as rock climbing or skydiving, may need to take extra precautions with their estate planning.

2. We Assess The Risks

Once we recognize the risks, we’ll evaluate them; we’ll determine how likely they’ll occur and how much damage they could cause. It’s necessary to establish the risk’s extent. We also consider the costs of implementing different risk management strategies. In most cases, identifying the problem comes first, then we’ll find a workable solution. Before dealing with hazards, we must determine where the risks are coming from.

3. We Create A Plan

We’ll create a treatment plan with different ways to manage the identified risks. We may recommend creating various legal documents, such as a will or trust. We could also suggest purchasing insurance or making changes to your investment portfolio. A risk treatment plan aims to reduce the risk’s possible consequences.

4. We Monitor And Evaluate The Risk

You can’t eradicate some hazards; they’re always there—for example, market risks and environmental threats. At Nesso Wealth, we’ll guarantee continuity by keeping an eye on potential threats. Whenever new risks emerge, we’ll update your estate plan.

The Importance Of Our Risk Management

Managing risk equips you with the tools to identify and manage risks effectively. Once we know the risk, we can work together to reduce it. The best strategy for preparing for events that can impede development and growth is risk assessment and management. Our advanced services ensure that you deal with high-priority issues. They give you the necessary data to make informed decisions.

Explaining Living Wills To Our Clients

A living will is a legal document that states your wishes regarding medical care if you can’t communicate them. It allows you to plan for your health care in advance and provides guidance to your loved ones and doctors about the kind of treatment you would or wouldn’t want to receive. A living will becomes effective only when you can no longer express your wishes regarding medical treatment. For example, if you’re in a coma, vegetative state, or have a terminal illness. Otherwise, your doctors won’t refer to your living will. You can change or revoke it at any time, as long as you’re of sound mind.

Some states allow you to complete a detailed, customized living will, while others provide a more general form. If you want to be as specific as possible about your medical treatment preferences, enlist the help of our financial advisors. They can help you understand the living will process and guarantee that you state your wishes clearly. At Nesso Wealth, our estate plans consist of several components, and a living will is one of the most important. We realize that everyone’s wishes are unique, so we tailor our living will service to each client.

The Importance Of Making A Living Will With Us

Without a living will, your family and loved ones would have to make decisions about your medical care without knowing what you’d want. This situation can be difficult and stressful for them, especially if they don’t know much about the various medical treatment options available. You can avoid putting your loved ones in this position by having a living will in place. In addition, a living will can prevent disagreements among your family members about the kind of medical treatment you should receive.

If there’s no clear guidance about your wishes, family members may disagree about what’s best for you; this can cause conflict and further stress during an already difficult time. A living will can help prevent these disagreements by providing clear instructions about the kind of treatment you do or don’t want to receive. Making a living will is a personal decision, and there’s no right or wrong answer about whether to do it. However, everyone can benefit from having a living will in place. If you’re interested in making a living will, Nesso Wealth can help.

What Our Living Wills Can Include

A living will can include a wide range of instructions about the kind of medical treatment you would or wouldn’t want to receive. For example, you may use a living will to express your wishes about:

Life-sustaining treatments, such as artificial ventilation or feeding tubes
Pain management
Organ donation
Palliative care

You can also use a living will to appoint a health care proxy. This person will make decisions about your medical care if you can’t communicate your wishes. Nesso Wealth can assist you in choosing what to include in your living will based on your specific desires and circumstances. If you want to appoint a healthcare proxy, we can help you choose someone who will act in your best interests. This way, you can feel confident knowing that your living will is carried out the way you want.