Three Levels of Estate Planning
Every family is different and has different estate planning needs.At The Law Office of Anna L. Burr, our plans are not “one size fits all.” Instead, we have designed three different levels of planning to suit your family’s needs. We represent families throughout varying stages of life:
- Two-parent families or single parents wishing to provide for and protect their children and themselves;
- Unmarried couples who are solidifying their relationship through proper planning
- Blended families creating new relationships with varying expectations
- Families with special needs looking to ensure that their children will be taken care of and able to continue to receive the necessary assistance
- High net worth families seeking strategies for minimizing estate and income tax liability
The costs of these plans range between $1,500 for a will-based plan, up to $7,500 for an extensive plan that includes maximum asset protections after death and inadvertent losses through the Court process. We know there are a lot of “do-it-yourself” options out there, and as the saying goes: You get what you pay for. It’s important for families to have a qualified estate planning attorney in their corner, checking the details and making sure everyone and everything is fully protected for you and for future generations.
The first step in beginning the estate planning process is to schedule a Family Wealth Planning Session. There, we will review the three levels of planning and choose the one that makes the most sense for you and your goals. We want to design a plan that provides your family a clear path forward if and when something happens to you, and that the plan will work when that day comes. We are aiming to provide real security – not the false security that comes with a cheap set of estate planning documents that fail to keep your loved ones out of conflict.
More Than Just Your Money: Leaving A Real Legacy
“Grief is the last act of love we have to give to those we loved. Where there is deep grief, there was great love.” After you are gone, your loved ones will miss you deeply. They will hold tightly to their memories of you, preserve photos and other reminders of your life. They will think about how special it would be to hear your voice again – the way you told a favorite story, or shared advice. Hearing your voice again would be a tremendous gift.
Through our unique legacy process, you can give your loved ones that gift – a lasting expression of your love. What could be more valuable?
At The Law Office of Anna L. Burr, we believe estate planning is more than the transfer of your money and belongings. It’s also about capturing and transferring your valuable intangible gifts: your values, insights, stories and experience.
Let Me Tell You a Story
When I was 20, my dad died after a brief battle with cancer. I was in college at the time, just starting to figure my life out. We were a low-tech family, so I don’t have videos or old voicemail messages I can listen to. While I have photos, memories, and a few mementos, they can’t replace the experience of seeing and hearing my dad again. I would love to have a recording of my dad, sharing a silly story or telling me his important life lessons. I could show the video to my children – his grandchildren that he never got to meet.
You Could Make a Recording, But Who Has Time?
When discussing estate planning, we often talk about recording a video or writing a letter to those we will leave behind, but so few people ever actually do it. We just get so caught up with our day-to-day routines that focusing on leaving a legacy seems to take a back seat. In order to make this happen, we built it into our planning process. Now, it’s incorporated as one of the steps you’ll take, not just something you’ll get around to someday. At The Law Office of Anna L. Burr, we help every client to capture and pass on who you are and what’s important to you.
For more information about how we help you pass on your most valuable assets – your values, insights, stories, and experience – to your loved ones, or about our resources for leaving your family with a true legacy, please contact us.
Kids Protection Planning
All parents assume they will be around to see their children grow into adults. For most parents, this is exactly what will happen. However, smart estate planning necessarily requires us to prepare for the worst. Think of the peace of mind that comes with having proper protection in place for your children – knowing that the right people will care for them in the event you cannot.
Asset Protection Planning
Building a wealth legacy sometimes requires taking risks. We co-sign on loans, we purchase rental properties, we obtain the skills and education to become high-income earners. With these rewards come risk – that a lawsuit, creditor, or divorce could threaten your wealth legacy. The good news is you can put a plan in place to protect those assets you’ve worked so hard to acquire.
Estate Tax Planning
As the saying goes, only two things are certain in life – death and taxes. Estate planning involves many different kinds of taxes: estate tax, gift tax, and generation-skipping tax, to name a few. We can help explain which of these may apply based on your estate and advise you on how to set up an estate plan that minimizes the tax burden for you and your family.
Special Needs Planning
Parents who have been blessed with a special needs child know that raising their children comes with a complex set of additional considerations. Because of that, making sure they are well cared for in your absence is critical. We can provide guidance in choosing the best person to act as guardian or trustee, put a plan in place to secure financial resources for your child, and assist with residential options if needed.
Even if you’ve implemented maximum asset protection with a trust, the process of managing those assets comes with legal and logistical challenges. Servicing in this capacity brings with it the possibility of legal and financial liability. We work closely with everyone involved – the trustee, beneficiaries, and advisors to ensure proper and thorough administration of your trust.