Estate Planning 101
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Do I have to read this?
No. Some clients like this background, but we will cover all this together. Let us guide you and you can have a complete plan in just 2 meetings
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Why Create Your Own Estate Plan?
No estate plan = the government plan.
EXPRESS YOUR CHOICES
Estate planning is putting your wishes into writing so that if you cannot tell the world what you want – whether due to illness, injury, or death – the documents can speak for you.
BENEFIT YOUR LOVED ONES
If we use the right documents to reflect your wishes then the process of actually following those wishes will be easier for your family and will save them significant time and money.
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What Does Your Estate Plan Cover?
Estate plans state your wishes under two possible scenarios: Incapacitation & Illness or Death. Three major areas of your life need to be covered under those two scenarios. Those areas are Property, Health & Body, and Kids (and others in your care). A complete estate plan includes the right document for each scenario.
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Why Is A Trust So Important?
When a person passes away their financial life is still here – their name is still on their deed, bank accounts, etc. Someone has to collect the assets, pay the debts, and transfer the assets to the right person. There are only two choices for how the process of collecting and transferring assets works.
No Trust = Probate Court. Someone must ask the probate court for authority to collect your assets
and give them to the right person after debts are paid, with court supervision. Typically costs at least $25,000 and takes 12-18 months. Frustrating for everyone.
Trust = Faster Process, Saves Money. Your trust is the document that gives the person you select authority to collect and distribute your assets. No court approval needed. Typically only costs $5,000 and takes 6-9 months.
Your Estate Plan in 5 Steps
For most clients, your entire plan can be completed with just 3 HOURS of your time, usually spaced out over 3 weeks. Many clients can complete a plan in one day if needed. The entire process is broken down into 5 STEPS.
PRE-MEET
We’ll send you a secure online INTAKE FORM. Feel free to skip any questions that you can’t answer easily. But if you can provide some basic details about your family and assets, that’ll make our first meeting together even better. No account numbers needed.
*It’s okay if you don’t do your intake form before the 1ST MEETING – no need to worry or reschedule.
1ST MEETING: The “Big Picture”
In this meeting we’ll cover the basics. Things like, “What’s your estate?” and “What are your goals?”. We’ll go through your INTAKE FORM together. It’s about 25 questions and you probably know the answer to 90% of those questions already.
*You’re not locked into any of your answers at the end of this meeting, but by the end we typically have a strong understanding of your goals and enough info to start drafting your plan.
DRAFT AVAILABLE
We’ll send you a DRAFT of your estate plan to review within about one week, through a secure Dropbox link. Everything that is specific to you is in BOLD and UPPERCASE, so it is easy to see your choices reflected.
*If you don’t have time to review the draft, that’s no problem.
2ND MEETING: The “Details”
We confirm that this plan is right for you – we go through each document and make sure you understand it and that you see all of your personal choices reflected.
1. We can make changes and updates during this time.
2. Once you approve the plan, we make sure you know what to do with it.
3. We review your checklist of follow-up steps for trust funding to make sure you understand each one.
4. We’ll go through a list of FAQs so you know how to get the most out of your estate plan.
FINALIZE: Notarization & Funding
1. You use our notary to sign the plan – no printing required.
2. We record your deed with the county and return a digital copy to you.
3. You complete your trust funding checklist at your own pace.
PAYMENT: Payment is easy too! Credit cards are accepted.
Most Couples – $3000
Most Individuals – $1500
Most Legal Insurance – Under $500
You’re done! You can still call us anytime with questions.