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Estate Planning

Coordinated Estate Planning

Someday, we are all going to leave this life behind. We don’t know when and we don’t know how, but we know it is going to happen. To do so with dignity and grace we need to do more than just have a will or trust because nuance and coordination are essential. Wealth management is about your life which includes your family, needs, wants, and dreams. It starts with where you are now, what you are doing and planning to do, and the story your financial projections illustrate. Equally important is how your family dynamics work, the role of money in your family, and the type of legacy you hope to leave. Estate planning includes developing a customized plan for your family and coordinating with a qualified attorney to ensure you get the legal documents you need, while still being practical and effective. We help you build the practical and very personal components of your legacy, before an attorney writes your personal rulebook.

AN ILLUSTRATIVE SCENARIO

See Estate Planning In Practice

Every family’s situation is unique. The following example illustrates the type of considerations that may emerge as we review your estate plan, accounts, and family priorities. 

Reviewing the Will

Based on a preliminary review of the information you have shared with us, your Will does not address critical issues, such as what happens if assets go to your grandchildren or effective instruction for how your house should be handled.

Updating the Power of Attorney

Based on a preliminary review your backup Power of Attorney will likely have procedural issues working with financial companies.

Coordinating Benefits

Think of your Will as the “catch all” for anything without a beneficiary and an instruction book for any special contingencies. Everything that “passes through” the Will goes through probate. Assets with successor owners listed supersede your will and generally need special instructions to transition as desired. Ideally, we rely on beneficiary designations (and the like) and we use the will as a reference for more complicated instruction and as a failsafe for any assets without beneficiary designation. This allows for flexibility, control, easier administration, and an easier periodic update process.

THE POTENTIAL VALUE

More than documents.
A more confident tomorrow.

Thoughtful Estate Planning can help reduce administrative burden, minimize unnecessary costs, and create greater clarity for the people you care about. 

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Disclosure

This example is for illustrative purposes only and is based on hypothetical assumptions and limited information. The projections shown are not representative of actual client results and do not guarantee future investment performance or outcomes. Actual results may vary materially based on market conditions, tax laws, inflation, investment performance, and individual circumstances.