Frequently Asked Questions
How can I find a Financial Advisor that feels right for me and my family?
Our team at Baird has the depth of knowledge and experience that will create confidence in your plan. We take a very personal approach to our work, and over time, clients feel like family! Take a look at our team bios to learn more about each of us and our personal passions, and see how we might be a fit for you. We're always open to a discovery conversation and will always "meet you where you are."
Our team focuses on guiding high-net-worth business owners/founders, large landowners (especially waterfront and agricultural land in Northern Michigan), current or soon-to-be retirees seeking guidance on managing rollover assets, as well as individuals or families looking for philanthropic guidance. No matter where your wealth comes from, we'll work with you as an individual and your whole family to guide your plans forward.
Do I need a Financial Advisor, Accountant, or Estate Attorney?
All three! Each of these advisors specializes in a different segment of your financial life, and you need all three for current financial management and generational wealth planning. Your attorney will draft the legal documents to guide what should happen in your estate. As your financial advisor, we'll help ensure your accounts and other assets are structured appropriately to align with that plan!
How should I coordinate work between my CPA, Attorney and Financial Advisor?
Open communication among your team of advisors is critical. Our team at Baird can help facilitate this work. We are in frequent contact with clients' attorneys and accountants to share information, plan ahead, and make life easier for you!
How do I minimize taxes on transferring land to family in Michigan?
There are many tools available to be "tax-smart" when transferring land. Commonly, families will use a "ladybird deed" to transfer land to their heirs upon the passing of the current owner. When assets are inherited, the cost basis is "stepped up" to the value at the date of death.
If a direct transfer doesn't feel right, you may want to consider a trust structure or other tools to ensure the land is included in your overall plan to achieve your family goals, whether that's an ongoing farm operation, a multi-generational family cottage, or.
Passing land to the next generation can be incredibly challenging. We'll work with you to structure this plan to meet your current goals and help you build a structure that will work well for your family in the future as well.
Where do I start?
Let's talk! You can use the "contact us" page to reach out and schedule a time to meet online or in person. We'll just have a conversation to learn more about your needs and see we can help ensure your plans become reality!