Net Worth -- up to a Million  
  SELECT YOUR GROUP
  -- Young Couple and Family
  -- Empty Nester
  -- Twilight Years

 

  

YOUNG COUPLE AND FAMILY:
Young couples should make estate-planning actions that principally benefit the children:
  1. Decide upon guardians for the children should both parents die.
  2. Put the family assets into Trusts to insure the funds are used for the children and surviving spouse.
Initially the Trusts are revocable living trusts where assets are completely controlled by the grantor and the terms can be changed at any time.  Upon the death of a spouse, the Trusts become irrevocable testamentary trusts and prevent an unscrupulous remarriage or guardian from misappropriating your assets.  The interest and principal of these trusts are always  first available to the surviving spouse.  What remains is for the benefit of children or named others.  Due to the complexity involved with trusts, you can expect to spend from $1750 to $2750 for the initial setup.
EMPTY NESTER:
Manage your assets so they will roll to the surviving spouse upon the first death by owning assets in joint tenancy.  Then transfer those same assets to the kids on the second death.  Both steps can be accomplished with a comprehensive Will costing between $750 and $1500.  Alternatively, Trusts can be established and you gain 3 key benefits:
  •  You can name a trustee to manage your child’s large
         inheritance until they gain financial maturity
  •  Your family money stays in your family and does not get distributed
         into a second marriage or a child’s potential divorced spouse
  •  An Trustee can immediately graduate into asset management
         for you in your twilight years
    • Of course, the principal and income of the trust can be used for the surviving spouse during their life.  Estate planning with Trusts of this nature should cost between $1750 and $2750.
    TWILIGHT YEARS:
    Clients who are older may gradually need assistance handling their affairs.  By placing their assets in a Trust, they can ask their responsible children, or a trusted advisor, to serve as co-trustee with them.  Then, the co-trustee can help make investment decisions and pay necessary bills.   Over time, more authority can be delegated.  In the event of incapacity, due to illness or injury, the co-trustee can fully manage your financial affairs. Another application of the same Trusts might be to assure successful money management for a surviving spouse – especially one who has not played an active role during their earlier years.   Once again establishing Trusts provides the necessary vehicle.  Expect to spend $1500 to $3000 for the necessary professional work.

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    The Process we follow:      New Client               Probate                 Picking a Trustee

    Life's Complexities that can be protected against
    - Your beneficiary has an accident and is sued
    - Surviving Spouse Remarries into fiscal irresponsibility
    - Keeping your wealth in the family should your surviving spouse remarry
    - Keeping your wealth in the family upon divorce of a beneficiary
    - Surviving spouse needs both money and money management
    - Surviving spouse has an accident and is sued

    Choose a different Net Worth:    < $300,000     Up to $1,000,000      1 to 5 Million      Over 5 Million

    Some Helpful Information:     Definitions
                                                    Additional Reading

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