Living Trust Estate Planning
After the no-cost initial meeting with many clients to discuss their estate planning needs, I usually recommend Revocable Living Trusts as the cornerstone for virtually all of their estate plans. A living trust offers clients complete control of all their assets during their lifetime, provides comprehensive instructions for their care and the care of loved ones in the event of their incapacity, and on death allows them to pass their assets to their loved ones without the costs, delays and publicity associated with probate, and in a manner that not only supports their loved ones but protects the inherited assets and promotes fiscal responsibility, personal growth, and keeps them from turning into human weeds.
I believe that every estate, regardless of size, is important. Whatever the size of your estate, you have spent your lifetime accumulating it and you want to preserve it from unnecessary taxes and administration fees and expenses, and to preserve it in a meaningful way for those you care about.
The planning process I employ incorporates at least three meetings. At the Initial Conference, we will review your assets and you will teach me about you and your loved ones. I do a lot of listening at this meeting, and ask some questions and take a lot of notes. After you have taught me about you and your family, I will then explain some of the most important aspects of estate planning and the laws that effect you and your family in the event of incapacity and at death.
At our next meeting, the Design Meeting, we will concentrate on creating an estate plan custom-designed to meet your specific needs and goals. At the end of this meeting, I will quote you a flat fee for drafting and implementing the plan we have designed.
About four weeks following the Design Meeting, you will return to our office for the Trust Signing Ceremony. At this time, we will have prepared your entire estate plan and we will review it with you in detail, carefully explaining each document and pointing out what the documents do for you and how they interact with each other. If the plan meets with your approval, you may sign the documents and put your comprehensive estate plan to work for you.
It is always my goal to work closely with you to provide you with the information you need to make good choices for yourself and your loved ones. If I can answer any questions or concerns, please do not hesitate to contact our office, I always welcome your calls.