Our approach is to tailor each plan to fit the individual needs of the family. After a thorough assessment of your assets and goals, a plan is created to protect those assets and meet the needs and goals of the client and his or her family. As part of each plan, we draw on various tools and make necessary assessments to determine how the estate plan should be implemented. Those tools and assessments include use of Wills, Trusts, Revocable or Irrevocable, Health Care Proxies and Powers of Attorney. We also assess the need for estate tax minimization and long term care protection and guardianships.
You have worked hard to acquire your assets. Don’t allow an out-of-date plan (or the absence of one) to undermine the way you would like your most valuable possessions distributed.
While it is important to review your estate plan every few years to ensure it still reflects your wishes, several circumstances should trigger prompt action.
A birth in the family. If you don’t designate a guardian for your young children or create a trust for your children or grandchildren, they may not receive the proper care and necessary financial resources should something happen to you.
A loved one’s death. If you don’t update your beneficiaries after a loved one you’ve designated has passed away, your estate could be subject to costly litigation after your lifetime.
Remarriage. If you fail to remove your former spouse as beneficiary of your assets and you die first, he or she could end up receiving assets such as your retirement plan.
An out-of-state move. Your will may not be valid in another state because of different state requirements for a legal will. Be sure to meet with an attorney to understand the laws in your new state and ensure your will is legally sound.