1. Young Adult – A top focus is incapacity planning.
Are you…
• Between the ages of 18-25?
• Unmarried?
• Not a Parent?
• Holding total assets (without insurance) under $50,000?
If “Yes” to all, then…
YOU ARE HERE
After turning 18, young adults are responsible for their own decisions when it comes to health and financial matters. What happens when you’re sick or get into an accident and cannot make those choices? Without a written power of attorney and health directives, your family will need to apply for formal guardianship through the Court (approx. 20 times the cost to set up proper incapacity documents) to help make those decisions for you.
YIPPEE™ Teens & 20s APPLY NOW
2. Parent with Minor Children – A top focus is Guardianship.
Are you/Do you…
• Have minor children?
• Own one property or less?
• Not a business owner?
• Have liquid assets Totaling LESS Than $100k (Note: Bank & NON-retirement investment accounts only)?
If “Yes” to all, then…
YOU ARE HERE
Young parents certainly need to protect themselves with proper incapacity planning (see Young Adult above). However, when we have little kids, our focus is largely on them...how we raise them...how we can financially protect them in the future. Those choices need to be in writing, including who will be responsible for following your guidance if you are unexpectedly not there.
YIPPEE™ APPLY NOW
3. Young Couples/Families - A top focus is protecting you and your family and making sure your wishes are followed.
Do you…
• Have a net worth <$250K [home equity, liquid, retirement, life insurance (not term)]?
• Not own property outside of the state of your residence?
• Not own any business interest?
• Have no chance of family disputes or child/grandchild oversight needed?
If yes to all of these, then...
YOU ARE HERE
A basic Will plan may be a good fit for a young couple or family that are still building their net worth, do not qualify for the YIPPEE™ program and may not want or yet require the added protections of a Trust. This plan is subject to the probate process and the Will does become public at someone's passing. There are different pros and cons to having a basic Will plan versus a Trust and your estate planning attorney should help guide you towards the plan that will best suit your needs and goals.
FREE DISCUSSION
4. Multiple Property Owner and/or Business Owner – A top focus is liability protection and succession planning.
Are you/Do you…
• Own more than one home (in or outside your state of residence)?
• Own your own business(es)
• Have liquid assets totaling more than $250,000?
• Want a more flexible plan, with smoother transitions to the next generation?
If yes to any of these, then…
YOU ARE HERE
Multiple properties, rental properties and business interests going through probate are even more complicated, costly and time consuming than other types of assets. In addition, assets owned outside someone's state of residence, not covered by a Trust, require probate proceedings in each state where any property or business is located. Properties with income streams also pose a liability risk if not properly protected.
Business succession planning is vital so entrepreneurs have the proper structure to easily transition the business at any time. As a business owner, your Trust plan typically also includes:
• Business Health Check-Up Assignment of Business Interest
FREE DISCUSSION
5a. Nearing Retirement – A top focus is streamlined simplicity.
Are you/Do you?
• Nearing retirement?
• Have multiple cash/investment accounts?
• Own a business?
• Worry about your post-retirement quality of life?
If yes to any of these questions, then…
YOU ARE HERE
At this stage, there’s a focus on what life will look like after you stop working. What is your cash flow going to be then? Will your assets sustain your lifestyle and hopefully extra fun stuff following your retirement? In addition to these matters of concern, this is the perfect time to think through possible asset consolidation, making sure beneficiary designations are optimized, and developing a plan to make life easier for you as you age and for those who will take charge once you cannot.
FREE DISCUSSION
5b. In Retirement – A top focus is asset protection.
Are you/Do you?
• Retired?
• Meeting your monthly expenses?
• Worried about covering potential long term care costs?
If yes, to any of these questions, then…
YOU ARE HERE
After reaching retirement, we hope you get to enjoy many years of fulfilling dreams not previously reached...Estate Planning 101. In addition, this time of life is great for taking stock of your needs and wants. If you feel comfortable that you have more than enough to cover yourself, we assess what assets can start to be put “aside” for your beneficiaries and avoid an unwanted spenddown if long term care is needed.
FREE DISCUSSION
6. Double Trust - When Do You Need It?
Are you/Do you?
• Meet the parameters for an Irrevocable Trust; and
• Have additional liquid assets you want accessible for personal use
If yes, to these questions, then…
YOU ARE HERE
A Double Trust fills all the gaps. It helps achieve maximum flexibility while offering beneficiary protection & asset insulation with a seamless transition for the next generation.
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ADDITIONAL SERVICES
Elder Law
Current Long Term Care Concerns – A top focus is finding the right fit for the care of the individual’s medical needs.
Although long term medical considerations can happen at any time, more commonly it is a slow progression of health decline in our later years. If you or someone you know needs assistance with some activities of daily living (ie. walking; feeding; dressing/grooming; toileting; bathing; transferring), then an assessment of personal and asset protection should be done. While you find the best care for your loved one, we analyze any existing long term care insurance benefits and guide you through the best asset protection planning options prior to an application for Medicaid.
Probate/Trust Administration
Loss of a Loved One – A top focus is not to rush.
Losing someone close to you is extremely difficult. Dealing with the administrative processes afterward doesn’t have to add to the strain.
Rely on us to walk you systematically through the steps:
(1) with your family,
(2) with the financial institutions,
(3) with the Court, and
(4) with the taxing authorities.
The process typically lasts 18 months on average due to Court timing, tax returns, and other factors. We will quarterback the entire administration using your help only when you want to take part.
FREE DISCUSSION
