When To Consult a Professional

If your lawn needs mowing or a skirt needs hemming, you might tackle that yourself. But when you need a tooth removed or a new alternator installed, you probably go straight to a professional. When it comes to your finances, it’s smart to consult a professional:

• If you’re buying or selling a home, professional guidance might help you save tens of thousands of dollars. For example, some taxsmart moves can shield part of any gain from taxation.

• If you’re getting married, you have many issues to consider, such as how to manage your separate and/ or joint finances. You may come out ahead by filing your taxes jointly, or adding one spouse to the other’s health insurance plan.

• If you’re getting divorced, there may be some smart financial moves to make now or later. An adviser can also answer questions such as whether you can still file taxes jointly this year.

• If you’re having children, you should look into what kinds of savings accounts to set up for their future needs. Getting life insurance is smart, too.

• If you’re saving for college, there are a bunch of programs and savings tools you’ll want to know about.

• If you’re considering buying a complex financial product, such as disability insurance, long-term care insurance or an annuity, an adviser can lay out your options and help you decide what to do.

• If you don’t have a retirement plan, you should — even if you’re still young — and an adviser can help you with that. The earlier you start, the easier it will be to build a big nest egg.

Financial advisers can be extremely helpful in many other situations, such as if you need an estate plan, or you inherit money. Ask around for recommendations from family or friends, or find a fee-only financial adviser at NAPFA.org.