Keeping Your Estate Plan Up-to-Date Means Greater Peace of Mind
Our goal is to provide our clients with the most effective estate and wealth preservation plans possible. Unfortunately, even the most carefully prepared plans can become vulnerable over time. Why? Income, estate and gift tax laws constantly change. More than 15 such changes have taken place since 1980 alone, and many more are likely in the near future. Similar uncertainty surrounds asset protection laws, retirement plan distribution rules, family LLC’s, trust laws and advance directive laws governing patient advocate designations.
Your personal situation also affects your plan. You change, your family changes. Loved ones get married and raise children. Some move, buy and sell residences and other investments. Occasionally, difficulties such as divorce or financial problems arise. The fact is, change is a part of life. Which means your estate plan must change as well.
In our over twenty years of practice we have seen many plans undone by a lack of funding. Not having your assets connected to your trust can cause an otherwise unnecessary probate at your death.
After considering how best to help our clients cope with these realities, we created The Family Protection Plan. It allows you to have your plan reviewed on an annual basis at a significantly lower cost than if you paid our standard rates. By reviewing your plan periodically, we can make revisions to take advantage of changing laws and other relevant legal developments as well as keeping your trust fully funded. We can also take into account the many changes in the lives of you and your family, so that your plan remains current and capable of meeting your needs.
Ultimately, we believe that The Family Protection Plan will provide you and your loved ones peace of mind.
Each enrollee of The Family Protection Plan receives:
• Periodic updates to your ancillary documents including your durable powers of attorney and advance directives such as your patient advocate designation.
• Comprehensive updates to the legal documents we have created for you for statutory or tax law changes; name changes for children and grandchildren; or changes to your trustee or personal representative.
• Unlimited phone consultation with members of our staff on any matter related to your estate and wealth preservation plan.
• Assistance with funding accounts, assets or properties acquired after your initial funding into your trust or legal entity.
• Regular, members-only bulletins on new or pending changes in the law that may affect you.
• Review of assets funded into your trust or legal entity for adequacy.
• Our team will interact upon request with your other professionals such as your CPA or financial advisor; or with family members as you direct.
• Fifteen percent (15%) reduction from our standard rates for additional matters.
• Protection for adult children (18-25). In Michigan, a child becomes a legal adult at 18 and therefore needs to have legal documents to appoint decision makers for incapacity. This is accomplished by having your adult child execute a patient advocate designation, power of attorney and HIPAA authorization.
• 24/7 electronic access to your documents, including Healthcare directives.
What is not included:
• Upgrades to your plan that involve new or different sub-trusts, trusts, entities or other such planning not already a part of your existing plan. These will be billed separately, but you will receive a 15% discount on such items from our standard rates.
Why This Plan Is Important
We strongly recommend that you take advantage of The Family Protection Plan to keep your plan up to date. Just how important do we think it is for you to do so? We feel that if you do not enroll, you risk having changes in the law, your financial or personal circumstance create unexpected consequences to you and to your loved ones. Take advantage of these benefits by enrolling today.
