Completing an estate plan for a lot of clients means fulfilling a New Year’s Resolution (maybe one that has been carried over for several years). Through the estate planning process, considerable thought is given to who will be the best person to administer the plan, how the beneficiaries should receive their shares, alternate plans if a beneficiary dies before you, who will raise your children if you or you and your spouse are deceased, and of course, how do you minimize the effect of taxes on your estate and your beneficiaries. These are all critical pieces of information that must be determined to draft the most effective plan.
But, as you know, life is not stagnant. Circumstances within a family can, and will likely, change between the time that the estate plan is executed and the time that it is needed. These circumstances can include the birth of a child, the death in a family, a divorce or a change in assets. Changes in the law can also spur a change in the estate plan.
With this in mind, the partners at Hoffman & Hoffman have developed a maintenance program for our estate planning clients. This program is offered at a variety of pricing levels, depending on the services requested. Each of the levels is specifically tailored to meet the ongoing needs of our estate planning clients. The services can include a free annual review and assessment, annually updated powers of attorney and Advance Health Care Directives at no cost, the most up to date information pertaining to estate and gift taxes and how to minimize the impact on your estate, invitations to periodic seminars addressing the latest estate planning topics, and access to Hoffman & Hoffman attorneys and staff to help you understand your estate plan and the intricacies of the laws that impact your plan.
This maintenance program is a valuable addition to your estate planning package and guarantees that your estate plan will accomplish the goals that are important to you and your family.