LifeBridgeTM: Life Isn’t Stagnant, Your Estate Plan Shouldn’t Be Either
When it comes to protecting your estate and the health and security of your loved ones, Weatherby & Associates, PC goes beyond just making plans and drafting documents.
No matter how good your estate plan is, it only works when it’s fully implemented, when it’s up to date, and when it’s relevant. To ensure our clients’ plans are all of these, we developed our exclusive LifeBridgeTM program, a unique approach to ensure each participant’s plan is reviewed regularly and updated according to changes in laws or to a client’s life situation.
With annual reviews and assessments, no-cost simple changes, discounted fees for major changes, and online access to documents, LifeBridgeTM transforms your estate plan from a static set of documents into a living, growing, changing entity that is highly flexible and responsive to changes in your life and in the law. LifeBridge TM participants never have to worry about outdated plans or documents … and they always have our ear whenever they have a question about their plan with our “phone calls are free” feature.
What can go wrong?
If your estate plan doesn’t get reviewed and updated regularly, you and your assets can become vulnerable is a variety of ways:
- Heavy probate fees and estate taxes get paid on real estate purchased after the plan was implemented because you forgot to transfer ownership to your trust or LLC
- Your heirs pay more taxes than necessary because changes to the law reduced estate and gift tax exemptions, but your plan was never adjusted for the change
- Medical decisions are made by your doctor when you become incapacitated rather than a chosen family member because the person named on your medical directives died two years ago and was never changed
- The Power of Attorney you created doesn’t get accepted by banks, insurance companies or brokerage firms after you’re declared incompetent for medical reasons because it’s more than a year old
- It is in the best interest of you and your family to make transfers of your assets but your Power of Attorney doesn’t properly authorize the transfers that should be made
- Important assets get snatched up by a creditor because laws regarding trusts, corporations or LLCs changed but your documents didn’t get updated
These are just a few examples of things that can go wrong when an estate plan isn’t reviewed and updated on a regular basis. The cost of outdated documents and plans can far exceed the cost of maintaining your plan with LifeBridgeTM.
LifeBridgeTM Estate Plan Maintenance Features and Opportunities
- Annual trust review
- No-charge phone calls any time you have a question about your plan
- 24/7 Emergency access to Health Care Directives for physicians and medical care providers via Free Membership in the Legal Directives Medical Access Program
- Secure online storage of all your estate plan and Life Care Plan documents, so you can access and review your documents at any time
- Reserved seats for you and your successor trustees at our annual client meeting to keep you current with the changing legal environment
- Free simple updates, such as changes to beneficiaries or asset values
- Free updates for changes that affect all clients
- Discounted rates and a $500 cap for a meeting to discuss changes when major changes are required
- Invitation to workshops on subjects of general interest offered throughout the year
- Invitation to Advanced Planning Workshops offered occasionally
- Annual verification of proper registration for assets acquired after your estate plan is put in place
- Discounted rate for transfer of additional deeds and/or Assignment of Notes, registration of accounts, and/or preparation of beneficiary designations for non-business related assets
- Annual trust review letter that includes any recommendations we have for your plan
- Annual statement of assets and values for your review to ensure we are current and to identify any additional planning needs
- Up to 2 hours of free Care Advisory Services with the firm’s Life Care Coordinator for questions you or your family members have regarding home care, housing decisions and home modifications for health care
- For Life Care Plan clients: assistance with care coordination, family education on elder care matters, health and financial decision making, care advocacy, crisis intervention and other supportive services
- For Life Care Plan clients: Quarterly check-in call to you or a designated family member to determine whether additional assistance is needed
- Discounted rates for settlement/trust administration services for your successor trustee to ensure smooth transition of your estate
Find out more about how LifeBridgeTM can ensure the viability and reliability of your estate plan or Life Care Plan.
Failure to keep an estate plan or Life Care Plan updated and assets protected can cost thousands of dollars in probate fees, attorney fees, estate taxes, gift taxes, and creditor collections. With just a flat annual payment, LifeBridgeTM pays for itself. Find out more about how LifeBridgeTM can help protect you and the ones you love:
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