It is a comprehensive, dynamic, ongoing process that is meant to honor and celebrate your life. All too often, the estate planning conversation is limited to “Where do you want your money to go when you die?” Instead, the internal WealthSource team can help you craft a legacy, transition your wealth into the capable hands of the next generation, and do more good in the world.
Death and disability are difficult topics to consider. However, the truth is that your family’s life will be forever changed if and when something happens to you. Left unplanned and unexamined, those changes could be financially and personally devastating to your loved ones. Let the internal WealthSource team identify potential risks and guide your conversations with attorneys.
Beyond legal documents, you need a clear plan for how to manage your wealth today, how to distribute your estate after your death, and how to pass on your core values and life lessons to the next generation. We want to minimize the administrative hardship for your loved ones and maximize the value that’s passed on beyond yourself to change lives and do good.
Transferring wealth from an estate to a beneficiary can be a complex, expensive, and lengthy process. Many legacy plans rely on strategies designed to lower the tax burden on your heirs and leverage gifting opportunities during your lifetime. Our internal WealthSource team will work alongside your attorneys to help ensure that your wishes for your family and assets are captured accurately.
Giving back isn’t just for the ultra-wealthy. Philanthropy at any level can add meaning to life, teach the next generation about the importance of aligning values with giving, and change the world for the better.
A fifth-generation Coloradoan, Joel was raised on a ranch in the plains of eastern Colorado that was homesteaded by his ancestors in 1876. From an early age, he learned the importance of honesty and integrity, hearing stories about his family’s resolve to pay back depositors every last cent when the local bank they owned became insolvent during the 1930’s financial crisis.
A former college instructor, Joel has over 30 years of experience in the financial industry. He graduated with honors from Colorado State University, then earned a Masters degree in Economics from Iowa State University. After teaching agri-business and economics courses at Northeastern Junior College in Sterling, Colorado, he began his financial services career with Northwestern Mutual Life in 1988 selling life and disability insurance. Shortly thereafter he expanded into investment planning, and in 1998 he formed Legacy Wealth Advisors, LLC to provide fee-based financial planning services. As the investment side of his business continued to grow, in 2007 he affiliated with Raymond James Financial Services to gain access to comprehensive investment services. In 2018 he affiliated with WealthSource to gain greater service and back-office support for his clients while continuing to use Raymond James as a custodian. Joel operates under WealthSource Partners’ umbrellas as a DBA Legacy Wealth Advisor.
Joel holds the Chartered Financial Consultant (ChFC) and Chartered Life Underwriter (CLU) designations.
Joel enjoys playing basketball, skiing, hiking, biking, and camping. Joel attends church regularly and is actively involved in supporting a number of different Christian charitable causes. Travel is also an important hobby, as he has five wonderful children and several grandkids scattered throughout Hawaii, San Diego, Pennsylvania, and Colorado.
Joel Propst is a Registered Representative of Fortune Financial Services Inc., Member FINRA/SIPC. Securities offered through Fortune Financial Services Inc. located at 3582 Brodhead Road, Suite 202, Monaca, PA 15061, (724) 846-2488. WealthSource Partners, LLC and Fortune Financial Services Inc. are independent and unaffiliated entities. Check the background of this investment professional on FINRA’s BrokerCheck.
All investments include the risk of loss and nothing herein should be construed as a guarantee of any specific outcome or profit. The information described herein represents the philosophy, processes, and/or opinions of WealthSource, but may not represent the philosophy, processes, and/or opinions of or used by affiliates of WealthSource, including its Investment Adviser Representatives (“IAR”). Consequently, you should consult with your WealthSource IAR to determine the applicability of the information described herein to the specific services that are being offered to you by WealthSource. Furthermore, not all services mentioned herein are available to all clients or are offered by all IARs of WealthSource. WealthSource is not a law firm and does not provide legal advice. You should always consult with your legal and/or tax advisors to determine how any estate planning or tax planning strategies will apply to your individual situation.
