[A] Young Adult – A top focus is incapacity planning.
After turning 18, young adults are responsible for their own decisions when it comes to health and financial matters. What happens when you’re sick or get into an accident and cannot make those choices? Without a written power of attorney and health directives, your family will need to apply for formal guardianship through the Court (approx. 20 times the cost to set up proper incapacity documents) to help make those decisions for you. FREE Discussion
A sample plan includes:
• Power of Attorney
• Health Proxy/Power of Attorney
• Living Will
• Health Insurance Portability and Accountability Act (HIPAA) Authorization
[B] Parent with Minor Children – A top focus is Guardianship.
Young parents certainly need to protect themselves with proper incapacity planning (see Young Adult above). However, when we have little kids, our focus is largely on them...how we raise them...how we can financially protect them in the future. Those choices need to be in writing, including who will be responsible for following your guidance if you are unexpectedly not there. FREE Discussion
A sample plan typically includes:
• Last Will & Testament including Guardians for minors
• Power of Attorney
• Health Proxy/Power of Attorney
• Living Will
• Health Insurance Portability and Accountability Act (HIPAA) Authorization
[C] Multiple Property Owner – A top focus is liability protection.
Many of our clients own multiple properties or acquire them over time. If you own property other than your primary residence, your estate planning has additional considerations. First, if you own property outside of your state of residence, then the use of a trust is important to avoid multiple probate proceedings. Further, the ownership of rental property requires the consideration of maximum liability protection typically with the use of a limited liability company.
FREE Discussion
A sample plan typically includes:
• Revocable Living Trust
• Pour-over Will
• Power of Attorney
• Health Proxy/Power of Attorney
• Living Will
• Health Insurance Portability and Accountability Act (HIPAA) Authorization
A sample plan may include:
• Coordination with out-of-state attorney to prepare proper transfer documents
• Creation of a Limited Liability Company for income properties
[D] Small Business Owner – A top focus is the end of your business story.
We believe all business owners should start with the end in mind. In this way, entrepreneurs can build the structures to easily transition the business at any time. While you consider the future, we assess the existing health of your business for any administrative holes that need to be patched. Once we’re in the clear, we ensure that your business interest does not require the scrutiny of a Court at your passing, including an unnecessarily expensive appraisal. Designating a trusted party to set valuation parameters if not done ahead of time is important for every business owner. FREE Discussion
A sample plan typically includes:
• Revocable Living Trust
• Pour-over Will
• Power of Attorney
• Health Proxy/Power of Attorney
• Living Will
• Health Insurance Portability and Accountability Act (HIPAA) Authorization
A sample plan may include:
• Business Health Check-Up
• Assignment of Business Interest
[E] Nearing Retirement – A top focus is streamlined simplicity.
At this stage, there’s a focus on what life will look like after you stop working. What is your cash flow going to be then? Will your assets sustain your lifestyle and hopefully extra fun stuff following your retirement? In addition to these matters of concern, this is the perfect time to think through possible asset consolidation, making sure beneficiary designations are optimized, and developing a plan to make life easier for you as you age and for those who will take charge once you cannot. FREE Discussion
A sample plan typically includes:
• Revocable Living Trust
• Pour-over Will
• Power of Attorney
• Health Proxy/Power of Attorney
• Living Will
• Health Insurance Portability and Accountability Act (HIPAA) Authorization
[F] In Retirement – A top focus is asset protection.
After reaching retirement, we hope you get to enjoy many years of fulfilling dreams not previously reached...Estate Planning 101. In addition, this time of life is great for taking stock of your needs and wants. If you feel comfortable that you have more than enough to cover yourself, we assess what assets can start to be put “aside” for your beneficiaries and avoid an unwanted spenddown if long term care is needed.
FREE Discussion
A sample plan typically includes:
• Asset Protection Trust
• Pour-over Will
• Power of Attorney
• Health Proxy/Power of Attorney
• Living Will
• Health Insurance Portability and Accountability Act (HIPAA) Authorization
Elder Law
[G] Current Long Term Care Concerns – A top focus is finding the right fit for the care of the individual’s medical needs.
Although long term medical considerations can happen at any time, more commonly it is a slow progression of health decline in our later years. If you or someone you know needs assistance with some activities of daily living (ie. walking; feeding; dressing/grooming; toileting; bathing; transferring), then an assessment of personal and asset protection should be done. While you find the best care for your loved one, we analyze any existing long term care insurance benefits and guide you through Medicaid planning to cover the potential costs.
Probate/Trust Administration
[H] Loss of a Loved One – A top focus is not to rush.
Losing someone close to you is extremely difficult. Dealing with the administrative processes afterward doesn’t have to add to the strain. Rely on us to walk you systematically through the steps (1) with your family, (2) with the financial institutions, (3) with the Court, and (4) with the taxing authorities. We will quarterback the entire administration using your help only when you want to take part. The process lasts 18 months on average due to Court timing, tax returns, and other factors. FREE Discussion
