Family dynamics and financial circumstances are not static. The Firm takes the view that estate planning is an ongoing process, rather than an isolated event. In order to serve the lifetime and estate planning needs of our clients, throughout life’s many stages, the firm maintains regular contact with our clients through informational and educational workshops.
Stages of Life
Younger clients, in the wealth accumulation phase of life, are often concerned about providing sufficiently for their minor and special needs children through the creation of a Will appointing suitable guardians, executors, and trusts that defer distribution of property until each child attains an appropriate age.
As clients move through life, they may recognize that their children have greatly different financial needs and want to provide for their children in a manner that best meets those needs. Some clients may have elderly parents and will have serious concerns about how their parents’ long-term care will be financed, in the event of an illness, injury, or incapacity.
Senior clients are generally concerned about taking the necessary financial steps during life to maintain their standard of living during the retirement phase of their lives, and transferring assets to their children, and other beneficiaries, with minimal transfer tax consequences.
Business owner clients are often concerned that an illness, injury, incapacity or premature death will have a severely negative impact on their businesses, as well as their families. Only after the Firm secures all necessary financial information about the asset size and structure of its clients’ portfolio, and personally reviews the lifetime and testamentary concerns and goals for the disposition of their property, can the Firm develop and implement a plan uniquely designed to achieve its clients’ estate planning, business succession, and retirement distribution objectives.