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An estate plan consists of a set of documents for older adults most often consisting of a trust, power of attorney, health care proxy and other supporting documents providing certain legal, financial and health instructions. Most people, and even many attorneys, consider the tangible documents to be the plan, the exchange of which, for payment, constitutes the completion of the transaction.
In our view, it is the “relationship” between the client and the law firm, intangible though it may be, that is of greater value. Only the relationship can provide the benefits needed to fully effectuate the plan. First among the intangibles is the peace of mind which the client is seeking in creating an estate plan in the first place. This requires an inquiry into the capabilities and sensibilities of each family member. The substitute decision-making that will be entrusted to others demands nothing less. As to the passing of assets, we are as concerned with the emotional legacy, as with the financial legacy, the client will leave to those loved ones who survive them.
Secondly, for any estate plan to be effective, care and attention not to mention experience, in funding the plan -- in other words getting the assets either into the trust or left to the trust as beneficiary -- are essential. The extraordinary level of care and knowledge needed to properly fund a trust is, in our experience, often found lacking. You cannot see it, but it is invaluable.
Third, of what benefit is a plan that is inorganic, in other words not subject to change. Some mechanism for the plan to be adjusted as changes in personal circumstances and in the law occur is essential. An estate plan must be designed with a review process so that it works when needed, often decades after it was first conceived.
As a relationship-based, rather than a transaction-based firm, Ettinger Law Firm has developed processes such as not charging for emails and phone calls and providing a free review every three years to provide the safety and security clients are looking for. Together with our proprietary publications and videos, and weekly client newsletter, these features allow our clients to live out the firm’s motto, “Protecting Your Future”.
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