Step Three: Assure Fully-Disclosed & Controlled Settlement Costs After Your Death
The cost of any estate plan has three parts: the part you pay for counseling and design at the beginning; the part you pay for updating periodically (or the larger cost of failing to keep the plan up-to-date); and the part your loved ones pay after your death to carry out your instructions for dividing and distributing your property.
Upon your death or disability, a change of control takes place, assets must be transferred, and often tax issues have to be addressed. Professional fees will be incurred. When you are discussing the cost of estate planning with anyone, be sure you are discussing – getting commitments, estimates, etc. – of the total cost of all three parts of the plan before you begin to plan.
Our Settlement Security System™ is a prearranged process to provide your family with the preparation, guidance, and support they need to navigate the transition following your disability or death, allowing the process to go smoothly for your family.
Quality design, effective maintenance, and preparation of your family for your eventual disability or death are key elements to having a plan that is cost-effective and less hassle for your family. Understanding what to expect and preparing for moving through the steps that need to be taken after your disability or death is simply a better way to plan. It’s certainly better than telling your kids where to find a set of instructions that they will need to carry out, but not giving them the tools, resources or support to effectively handle the matter when the time comes.
Our goal is to make sure you understand the options available in estate planning, and that you are able to choose the option that that best fits your needs.