Why It Matters and How a CTFA Can Help
You know you need an estate plan, but where do you begin? An effective estate plan provides you with a measure of control over your future, the future of your estate, and your family’s financial well-being, even after you’re gone. Building that plan, however, can feel overwhelming. It doesn’t have to be.
The reality is that most people haven’t taken this critical step. According to Caring.com’s 2025 Wills and Estate Planning Study, only 24% of American adults have a will, meaning more than three out of four people have no formal plan in place for how their assets will be distributed or their loved ones cared for. That’s a staggering gap between what people know they should do and what they’ve actually done.
At Pereira Wealth Management, we believe that gap often comes down to two things: not knowing where to start and not having the right advisor guiding you through the process.
Where to Start
If you’re looking for a good place to begin, try this simple Estate Planning Checklist. It can help you quickly gauge your preparedness and identify important elements you may need to address.
The first question to ask is whether you already have an estate plan. If so, that’s great, but if you developed it some time ago, you’ll need to review and update it to ensure it reflects your current circumstances and wishes. Life changes, such as marriages, births, relocations, and changes in financial status, can all require significant updates.
You should also consider whether your estate plan is coordinated with all of your other important planning documents. Does it clearly reflect your beneficiary designations? Does it account for life insurance policies, banking and investment accounts, and guardianship designations for any minors in your care? What about your digital estate? Every important detail needs to be officially documented and kept current.
Finally, there are matters of a more personal nature. Do you still feel comfortable with the executors or trustees you previously designated? Have you discussed with your spouse, partner, children, or other beneficiaries whether they’ll be able to maintain their current lifestyle in the event of your passing?
Key Steps in the Estate Planning Process
Prepare a Will
A detailed, comprehensive will is the most fundamental component of an estate plan. This legal document presents your wishes for the distribution of your property and assets and makes arrangements for the care of any minor children. An estate planning attorney can help ensure your will is legally sound and valid under your state’s law.
Draft a Power of Attorney
A Power of Attorney (POA) appoints a trusted agent to make financial and legal decisions on your behalf if you become unable to do so. You’ll need to specify the scope and durability of powers, and consider whether they take effect immediately or only under certain conditions.
Create an Advance Healthcare Directive
These legal documents provide written instructions about your medical care in the event you can no longer communicate your preferences. They also typically designate someone to make healthcare decisions on your behalf. You may also want to include instructions for funeral or memorial arrangements, whether through a Letter of Instruction or within your will itself.
Utilize Gifting
Incorporating giving into your estate plan allows you to express your values while potentially reducing estate taxes. Strategic gifting during your lifetime can qualify for gift tax exclusions and facilitate a smooth transfer of wealth. Options like a Charitable Remainder Trust may enable you to defer capital gains taxes, receive a charitable income tax deduction, and potentially increase your income.
Minimize Estate Taxes
Through strategic measures, such as trusts, gifting, and applicable tax exemptions, you can structure the transfer of wealth to reduce the tax burden on your estate. If you move to a new state, your strategy may need to be updated to align with local tax laws.
Leverage Trusts
Trusts define how money or property will be distributed, transferred, and managed for named beneficiaries, including minor children and beneficiaries with special needs. There are many types of trusts, and a professional can help determine the most appropriate options for your goals.
Why a CTFA Makes the Difference
With so many moving parts, details can easily slip through the cracks. That’s where the right advisor becomes essential, and not all advisors are equally equipped for this work.
A Certified Trust and Financial Advisor (CTFA) holds a professional designation conferred by the American Bankers Association that signifies specialized expertise in trust and fiduciary services, estate planning, tax law, and investment management. To earn the CTFA, an advisor must demonstrate extensive wealth management experience, including hands-on work with trusts, estates, and retirement accounts, and pass a rigorous certification exam.
What does that mean for you? It means your advisor isn’t just familiar with estate planning concepts; they have deep, demonstrated expertise in the very areas that matter most when structuring your legacy. A CTFA can help you navigate the complexities of trust administration, coordinate your estate plan with your broader financial picture, identify tax-efficient strategies, and ensure that every element of your plan works together as intended.
At Pereira Wealth Management, we bring this level of specialized knowledge to every client relationship. Estate planning isn’t a one-time event; it’s an ongoing process that evolves with your life. Having a CTFA as your advisor means you have a partner who understands the full scope of what’s at stake and who is committed to getting it right.
Take the Next Step
To help you gather a more complete picture of your overall preparedness, download and complete this freeEstate Planning Checklist, and contact our office with any questions you may have.
Sources:
Caring.com — 2025 Wills and Estate Planning Study
American Bankers Association — Certified Trust and Fiduciary Advisor (CTFA)
*The use of trusts involves a complex series of tax rules and regulations. You should consider the counsel of an experienced estate planning professional before implementing such strategies.
This material was developed and prepared by a third party for use by your Registered Representative. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security. The content is developed from sources believed to be providing accurate information.
For a comprehensive review of your personal situation, always consult with a tax or legal advisor. Neither Cetera nor any of its representatives may give legal or tax advice.