We feel it is important to provide our clients with a complete estate plan based upon each client's individual situation.
Our relationship with you will begin with an initial consultation. At this meeting, we will review your personal and financial situation, and we will provide information and education about estate planning terms and concepts. We will answer any questions you may have, and we will ask you what you want your estate plan to accomplish. Once we have determined your goals, we will give you a written contract showing the total cost for us to provide these services. Our services will include not only the preparation of the estate plan documents, but advice and assistance on how your assets should be titled to make your new estate plan work, including the correct beneficiary designations for your life insurance policies and retirement plans. We tell you the cost up front.
There is no charge for the initial consultation for clients who have no existing estate planning.
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WHAT TYPES OF ESTATE PLANS ARE THERE?
A WILL-BASED ESTATE PLAN includes preparation of a Last Will and Testament for each client. Based upon the needs of the individual client, each Will may include federal estate tax planning provisions, testamentary trusts for minor children or disabled beneficiaries, and any other special provisions which might be appropriate. In addition, the Will-Based Estate Plan includes a Durable Power of Attorney for Health Care and Financial Decisions, a Tangible Personal Property List with instructions for using it, and a Living Will for each client who chooses to have one, plus our recommendations on the appropriate beneficiary designations for the client's life insurance policies and retirement plans, if any, in order to coordinate them with the overall estate plan.
A TRUST-BASED ESTATE PLAN includes the preparation of a revocable Trust Agreement for each client, or, in some cases, the preparation of a joint revocable Trust Agreement for a married couple. These trusts may include federal estate tax planning provisions, special distribution instructions for the benefit of minor children or disabled beneficiaries, provisions for dealing with the lifetime disability of the person creating the trust, designation of successor Trustee(s), and the terms for the final distribution of trust assets. A Trust-Based Estate Plan also includes a Last Will and Testament with pour-over provisions, Durable Powers of Attorney for Health Care Decisions, Financial Decisions, and Funding for each client, as well as a Living Will for each client who wishes to have one. Our firm will not only give you instructions on how to title assets properly, but we will also provide assistance in transferring existing assets into the trust and making the appropriate beneficiary designations on life insurance and retirement plans, if any, to coordinate with the overall estate plan.
Click below to find out more about the estate planning terms we have discussed on this page:
Common Estate Planning Terms