A comprehensive Estate & Asset Protection Plan must allow for myriad changes.  First, there is the expected and unexpected changes in your personal, family, and financial situation that may uncover new dangers, opportunities, and strengths that need to be addressed.  Second, there is the evolution of both tax and non-tax law that impacts your Estate & Asset Protection Plan.  Third, there is the growth in the experience and expertise of your legal, accounting, and financial advisors.  Finally, in many Estate & Asset Protection Plans there are actions that must be accomplished in future years.  This planning may or may not require further collaboration among our team and your other legal, accounting, and financial advisors.

 

Some clients prefer to end our engagement after the Signing Ceremony & Confirmation, seeking to engage us down the road if they wish for our help.  With others, we mutually agree to continue the Estate & Asset Protection Planning Process together, following the Signing Ceremony & Confirmation.  Under these circumstances we will turn to the Formal Updating & Maintenance of your Estate & Asset Protection Plan to address regular changes to your plan through a pro-active iterative approach.  This may involve an agreement to have periodic meetings with members of your family and your other legal, accounting, and financial advisors  If so, we will provide you with a Client Engagement Letter, Terms of Engagement, and Invoice for the work we will perform in Updating & Maintaining your Estate & Asset Protection Plan. This is frequently structured to occur on a retainer basis relationship to avoid the distraction and mutual irritation of periodic itemized invoices, while providing us with an opportunity to engage in proactive planning for you and your family.

 

Given this continuous process of change, your Estate & Asset Protection Plan will not accomplish its purposes if it is never updated.  The costs of failing to Formally Update & Maintain your Estate & Asset Protection Plan are typically far greater than the investment required to keep your Estate & Asset Protection Plan current.  A sound Estate & Asset Protection Plan should meet your goals and keep you in control of the process and the results.  We generally recommend that we sit down together to review your Estate & Asset Protection Plan at least every two years (or more frequently if you desire or the details of your Estate & Asset Protection Plan requires it) to ensure that your Estate & Asset Protection Plan remains current.  This Formal Updating & Maintenance process provides us with an opportunity to engage in proactive planning for you and your family.

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    Estate & Asset Protection Planning
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    Estate & Asset Protection Planning