Estate Planning Services Overview
What differentiates a successful plan from one that fails to accomplish the client's goals can be the result of many factors.
It is imperative that the estate planning attorney thoroughly review each client's assets, including beneficiary designations and ownership title, in order to develop any type of plan. The process of determining what assets are owned by the client and how they are titled can be very consuming and difficult, but it is imperative that this be done before planning advice is given.
It is the job of a professional to determine the most appropriate plan to achieve the client's planning goals. Individuals should expect an "estate examination" before a diagnosis can be made. The only way to determine clients' objectives regarding their estate and long-term care plan is to listen to their story and to get to know them, both of which take time.
Clients may not reveal certain important information, not only because they do not feel comfortable, but also because the attorney has not discussed enough about the plan for the client to realize what information is significant. Asking the right questions will help develop a picture for the client's real attitude and expectations about what they are asking for in an estate plan. The attorney should assist the client in developing a clear understanding of his or her objectives before proceeding with the plan. To truly benefit the client, it is important to understand the underlying investment objectives and tax implications of altering an asset structure. For this, a sophisticated investment advisor should be consulted.
We are retained to preserve and transfer the product of a lifetime of hard work and accumulation. Every client has a different pot of assets which makes our job so interesting and yet so difficult at the same time.
Beyond having the technical expertise to implement the correct legal requirements for a plan, a good attorney will have asked the right questions and gathered enough information to personalize the plan in light of specific client situations.
This creative involvement with the client is the reason why we chose our profession.