Certified Financial Planner (CFP) Practice Exam 2025 – All-in-One Study Guide for Exam Success!

The best course of action for Jim after marrying Laura is to consult with a CFP® professional about changes to the irrevocable trust. This step is crucial for several reasons.

Firstly, marrying Laura could change Jim’s financial situation and objectives, and it’s essential to understand how the trust aligns with these new circumstances. A CFP® professional can provide tailored advice on whether the structure of the trust still serves its original purpose, especially in light of changes in family dynamics, potential tax implications, and asset protection needs.

Moreover, irrevocable trusts have specific legal and tax ramifications, making professional guidance necessary when considering modifications or understanding how they interact with Jim and Laura’s joint financial future. A CFP® professional is equipped to guide Jim through these complexities in a way that aligns with both his goals and the legal stipulations governing the irrevocable trust.

This option stands out as it emphasizes the importance of utilizing a knowledgeable resource who can provide comprehensive advice instead of making impulsive decisions that may not be in Jim’s best interest.