In the estate planning process, we may recommend basic estate planning documents and more advanced documents.
After your review, we will meet again by phone or video conference to review your questions and any suggested changes you may have, and then we will schedule a meeting to sign the documents at our office. After the signing meeting, we will submit any beneficiary designations you have signed to the relevant financial institutions and life insurance companies, and you will be provided with an electronic copy of your estate planning binder, together with a hard copy if desired.
We recommend that a reserve be set aside to cover anticipated estate taxes and expenses. Once the federal and/or state governments have issued their "closing letters" certifying that no further tax is due, the reserve can be distributed and the estate closed.
We will also meet with the trustees, investment advisors and accountants for the trust at least once a year to help ensure the trust is being administered in accordance with the trust instrument and as required by state law. These services are typically performed on an hourly basis and charged to the trust.