Services
A family’s financial plan needs to account for more than one income, more than one set of goals, and more than one stage of life at the same time. The following areas of focus are available to family clients.
A comprehensive financial plan for a family starts by looking at the household as a whole: both incomes, all expenses, existing accounts, insurance coverage, and short and long-term goals. From there, a coordinated strategy is built that reflects the family’s priorities at every stage.
Retirement planning for couples involves coordinating two separate income streams, two sets of accounts, and often two different timelines. Services include optimizing contributions across both partners’ accounts, planning for Social Security filing strategies, and building a distribution plan that accounts for both individuals’ needs throughout retirement.
For families with children, planning for education costs is often one of the most immediate financial priorities. Services include reviewing college savings options, establishing 529 plans where appropriate, and integrating education funding into the broader household financial plan without compromising other long-term goals.
When a family depends on one or more incomes, protecting those incomes is fundamental. Life insurance and disability coverage are reviewed as part of every family plan to ensure that the financial security of the household is not contingent on everything going perfectly.
Beacon Financial Group understands the importance of passing hard-earned assets on to the right people. Multi-generational planning helps families maintain control over how their legacy is handled — not the government. Services include estate planning coordination, trust review, legacy strategy, and charitable giving planning.
Ensuring that a family’s assets are protected and distributed according to their wishes is a core component of long-term planning. Services include reviewing and updating beneficiary designations, coordinating with estate attorneys on wills and trusts, and establishing appropriate powers of attorney and healthcare directives.
The first conversation is free and comes with no obligation.
For families, retirement planning means coordinating two incomes, two sets of accounts, and often two different timelines. Tommy Cooper helps couples maximize contributions across both partners’ accounts, plan Social Security filing strategies, and build a distribution plan that accounts for both individuals’ needs throughout retirement.
A 529 plan is a tax-advantaged education savings account where contributions grow tax-free and withdrawals for qualified education expenses are also tax-free. For most families, starting a 529 plan early, even with small, consistent contributions, is one of the most efficient ways to prepare for education costs. Beacon Financial Group also offers 529 plans specifically for members of the Fraternal Order of Police.
Multi-generational planning focuses on how assets are passed from one generation to the next in the most efficient and controlled way possible. Beacon Financial Group has multiple parent-child advisor teams and specializes in helping families build legacy plans, coordinate estate planning, and ensure assets are distributed to the right people with the lowest possible tax impact.
A common starting point is 10 to 12 times annual income, but the right amount depends on your specific situation: number of dependents, mortgage balance, outstanding debt, and how long your income needs to be replaced. Beacon Financial Group conducts a gap-coverage analysis to assess what coverage you have and what you may be missing.
Yes. Through Beacon Financial Group, clients have access to health insurance guidance including understanding plan benefits, navigating the Health Insurance Marketplace, reviewing employer open enrollment options, and transitioning coverage after life events such as marriage, job change, or retirement.
Beacon Financial Group works alongside estate planning attorneys to help families review and update beneficiary designations, align financial accounts with their estate planning goals, establish appropriate powers of attorney and healthcare directives, and build a strategy for passing assets to the right people with the lowest tax implications.