Creating a New Estate Plan

Posted by : | February 20, 2020

Creating a New Estate Plan

For individuals and couples who do not yet have an estate plan, the initial consultation with us is complimentary.  Once we have an understanding of your goals, we can determine a flat fee for the work needed to achieve those goals.  Our estate plans allow for the simple transfer of assets at death to family, friends and charities according to your desires.

If desired, there are methods to make gifts now to family, friends and charities that provide tax benefits and avoid incurring gift tax.  For example, individuals can gift up to $15,000 annually to as many people as they choose without filing a gift tax return.  Consultation with an attorney and possibly your tax advisor may be necessary to accomplish major gifts.

After estate planning documents are drafted they will be sent to you via mail for your review and evaluation.  Questions or changes can be addressed in a second meeting, or by phone or email communications.  Once the documents are finalized we will meet again for the final review and signing.  We assist with transferring real property to the trust and provide instruction on transferring other assets.

Documents typically prepared in a full estate planning process include:

  1. Revocable Living Trust
  2. Will – to cover assets not transferred to the trust
  3. Trust Certification – used to coordinate transfers of assets to the trust
  4. Documents to effect transfer of personal property, real property, business and other interests to the trust
  5. Durable Power of Attorney for Finances
  6. Advance Health Care Directive & HIPAA Authorization
  7. Final Disposition of Remains