Design an estate plan to:
The passage of the 2017 Tax Cuts and Jobs Act means that estates of up to $10 million pay no estate tax; many clients are shifting from tax motivated strategies to probate avoidance, ease of administration, asset protection and wealth preservation structures.
Higher net worth clients often desire an emphasis on tax reduction and incentive provisions. We understand the importance of integrating your family dynamics, business plans, wealth preservation desires and tax planning needs.
Whether you need a basic estate plan or have a need for more sophisticated strategies, we can help you by designing a customized estate plan that disinherits the IRS and fits your family’s specific needs.
Many estate planning lawyers view estate planning as a “forms practice.” We now see these “standard form” plans in court, or worse, under IRS scrutiny. Don’t buy paper! As a nationally recognized estate planning attorney, I create value by delivering smart legal advice that is specially outfitted for your unique circumstances... in fact, I even teach the course to other lawyers!
Call (480) 776-6055 to Schedule Your Consultation
Discuss your goals, objectives, and concerns with WealthCounsel estate planning attorney Whitney Sorrell, Esq.. Review your assets and title information to determine if your current plan meets your objectives.
We'll use our experience and knowledge of cutting-edge estate planning techniques to guide you through each decision as we custom tailor your plan to your needs and circumstances.
Proceed confidently knowing your wishes will be carried out, your values will remain with your children, and your wealth will be protected as it changes hands.
Our thoughtful estate planning packages are personalized to your unique needs, goals, and budget:
The Trust Design Center Plan estate planning package is perfect for families who want the least amount of cost and personal effort but still recieve an estate plan personalized to their family.
The Trust Design Center plan includes:
The Family Protection estate planning package was made for families who want to spend the additional time and expense necessary to personally design every detail of their estate plan with a professional estate planning lawyer.
The Family Protection Plan includes:
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The Wealth Preservation estate planning package is appropriate for families with a closely-held business or a net worth in excess of $8M.
This plan includes all documents in the family protection plan, AND uses various legal structures to:
Q: What is an estate plan?
Estate planning is a process that enables you to control your property while you're alive and healthy and provide for yourself and your loved ones should you become disabled. Implementing an estate plan before you die allows you to give your assets to the people you want, the way you want, and when you want.
An well-designed estate plan should minimize the impact of professional fees, court costs, and taxes should you die or become disabled.
Q: What is a Living Trust?
Also referred to as a "Revocable Living Trust", a Living Trust is a legal entity where you designate a "Trustee" to control your assets should you die or become disabled. Typically, you are the Trustee while you are alive and healthy and are able to control your investments and can withdraw property at any time. A Living Trust is not a separate taxable entity from you as an individual. While you are alive, a Living Trust can be amended and revoked at any time through a written instrument.
Living Trust-based estate plans keep your financial affairs private and enables your Trustee to distribute your assets per your instructions without judicial involvement.
Q: What is a Last Will & Testament?
Also referred to as a "Will", a Last Will & Testament designates who recieves your property when you die. Our estate plans utilize a "pour-over" will that transfers any property not transferred to your Living Trust before your death to your Living Trust. A pour-over Will acts as a safety net in the event you fail to transfer title of your assets to your Living Trust prior to your death.
Q: What is a Living Will?
A Living Will informs your doctors that you do not want extraordinary medical measures taken if the measures would only prolong the dying process and cause pain or discomfort.
Q: What are Health Care Directives?
Health Care Directives include a Healthcare Power of Attorney and HIPAA Authorization. The Healthcare Power of Attorney allows you to authorize someone to make healthcare decisions for you in the event you are unable to make them for yourself. The HIPAA Authorization grants access to your protected healthcare information to the persons you authorize so they can make informed decisions regarding your healthcare.
Q: What is a Financial Power of Attorney?
In a Financial Power of Attorney, you designate an agent to manage your property and to act for you should you become incapacitated.
Q: What are Personal Property Directions?
Our estate plans use a Personal Property Memorandum to provide a place for you to designate who gets specific items of your tangible personal property (a coin collection, a set of fine china, furniture, etc.).
Q: What does it mean to "Fund a Trust?"
Funding a Trust refers to the process of transferring title of your assets to the name of your Living Trust. Forming a Trust without funding it is the equivalent of buying a suitcase and then failing to pack your belongings before going on vacation.