We begin with an Estate Planning Definition:

One Definition of Estate Planning
I want to control my property while I am alive, take care of me and my loved ones if I become disabled, and give what I have to whom I want, the way I want and when I want.  Furthermore, if I can, I want to save every last tax dollar, professional fee, and court cost legally possible.

Many people believe estate planning is only about minimizing taxes and distributing assets after death when in fact, estate planning is very much about planning for life.  Effective estate planning is about identifying values and plans for the future that demonstrate and pass on those values.  It is also about protecting and controlling wealth and assets during life and choosing helpers who will care for you and your assets if you become disabled and are unable to make decisions.

Estate planning is not a "one-and-done" event.  We believe it is an ongoing process that should be adapted and changed as life changes.  There are four things that necessitate changes to planning:

     1.  Relationships
          Births, deaths, marriages, divorces and other relationship changes all affect planning objectives.

     2.  Health Status
          The health status of yourself, your agents, and your beneficiaries may change and those events may lead to you want or force
          you to change your planning, especially if a loved one experiences a catastrophic accident or illness.

     3.  Tax Law & Legislation
          As our laws change, our planning may need to change to leverage any advantageous new laws.

     4.  Estate Size
          As an estate size changes, additional planning may need to be added to address issues such as minimizing an additional tax
          burden, providing asset protection for a newly acquired asset, and adjusting distributions.

Thoughtful planning substantially benefits you and your loved ones because you control your planning.  Planning provides certainty to forthcoming events.  With certainty comes the minimization of taxes, mistakes and money loss.  Through planning, control of our property is maximized.

Your alternative to your own plan is to let the IRS and state government make decisions for you, neither of whom is concerned about your interests.  70% of people don't plan their estates.  The government knows this and as a result, each state has a plan for you.  The problem there is that it is the same plan for everyone without out regard to anyone's wishes.

By not completing your own plan, you have effectively chosen to accept the state's plan for everybody.  Don't let this happen to you and your loved ones.

Our attorneys are members of WealthCounsel, an alliance of premier planning attorneys nationwide who are dedicated to providing the highest quality educational programs, support and planning techniques to their clients.

Click here to visit the WealthCounsel Website

 

What Type of Estate Plan is Right for You?

There are many approaches to meeting estate planning goals.  Whether you are single, married, have a life partner, have young or grown children, are retired or are elderly, we can assist you in finding the right combination of planning tools to meet your objectives.

What if You Already Have Prior Estate Planning in Place?

Remember, prior planning does not necessarily mean you have the right planning in place.  We review many prior estate plans and we often find that plans were completed for people and not with people.  What this means is that prior plans may not meet client objectives for several reasons, such as 1) plans were not drafted properly; 2) plans were drafted by attorneys who only dabble in planning; 3) plans were not updated with changing life circumstances; 4) the attorney did not listen carefully to client objectives; or 5) tax planning is missing.  We know that if clients are not given the opportunity to customize their planning with many planning choices available, rarely are plans going to achieve true client objectives.  Sadly, we often see that the creativity of planning was limited by the lawyers clients chose.

If you already have planning in place, we will evaluate your planning using an easy to understand checklist of what we believe are the essential constituents a plan should have.  We do this because we believe people should have a clear understanding of prior planning and what it will or will not achieve.  Everyone has a right to know that many planning choices are available to improve plans and achieve objectives.

View our Estate Planning Wheel
 

Comprehensive Base Planning

• Last Will and Testament
• Revocable Living Trust

The following are included in all of our base planning:

• General Durable Power of Attorney
• Healthcare Power of Attorney
• Standalone HIPAA Authorization
• Living Will
• Medical Directives Storage

Advanced Estate Planning

• Triple Generation Tax Planning
• Special Needs Planning
• Pet Planning
• Asset Protection Planning
• Tax Planning
• Charitable Planning
• Insurance Planning
• Retirement Planning

Estate Planning Goals

15 Point Client Care Plan

Top Ten Estate Planning Mistakes

Getting Started:  Estate Planning