This Is Our Favorite Part…
One of the most critical phases in the estate planing process is the Design Phase (not the step you are at? Click Here).
This is the part of the estate planning process that distinguishes an excellent estate plan from a mediocre, or worse, ineffective one. An estate plan prepared by a competent and thorough estate planning attorney requires not only an understanding of the law, but the experience and skill to walk you through the “what ifs” and identify areas of your plan that need further attention.
We like to use the metaphor of a puzzle. You provide us with all of the pieces of a puzzle - your assets, your decision makers, your values, your concerns - and we have the role of assembling the puzzle into the image that you have also provided based upon your vision of what you would like to occur to create a successful transfer of wealth, establish your legacy and to provide protection to your loved ones or other beneficiaries.
The magic of what we do, and why this is our favorite part, is creating a plan where all the puzzle pieces fit together. In an ineffective plan, puzzle pieces may not fit together correctly, there may be holes, or the picture may be incomplete. In a well-drafted and thoughtful plan, the kind of plan that we desire to create for each and every one of our clients, the puzzle pieces fit beautifully together to create a complete picture.
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The Design Phase starts once you have completed your Engagement Documents, provided payment, and submitted your complete Confidential Estate Planning Questionnaire. Our attorneys will review the information you have submitted to prepare for your Design Appointment.
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During your Design Appointment, we will craft a specialized plan that accounts for your specific assets and your wishes. We do this in a flowchart so that we can visually plan how assets will transfer during each life transition. We will also answer questions regarding your trustees or other agents, and identify other planning opportunities, building in tax efficiencies, creditor protections where appropriate and other important planning techniques.
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Following your Design Appointment, we will prepare a plan summary that outlines and explains the plan you have carefully designed with your attorney.
Following the delivery of the plan summary, after incorporating any changes requested, we will prepare the estate planning documents, and appropriate supporting documentation.
Our objective is to provide you with your estate plan drafts, and a Review Video walking through your documents if appropriate, while the information discussed during the Design Appointment is still fresh in your minds, and to keep the momentum in the estate planning process.