Protective Estate Planning Review

Protective Estate Planning Review

Our Signature Programs

Tisser & Standing LLP believes that your estate plan must be reviewed periodically in order to ensure that it remains accurate. An estate plan is only as good as your intentions at any given time and, unless reviewed, it may not reflect your wishes as circumstances change.

There are likely to be more changes to your estate due to family and personal circumstances than to changes in the law. Unfortunately, we have been involved with too many trusts and estates in which a person has died and the family has incurred unnecessary expenses, taxes and significant administration complexities, which could have been avoided had a review of the deceased’s estate plan been done prior to his or her death.

There are two categories of events which can require changes to your estate plan. The first involves changes in the law. These would include matters that affect the amount you can leave tax free to your family at your death, estate tax planning, techniques to minimize taxes relating to the inheritance of your IRA or retirement accounts, and tax planning techniques resulting from changes in the law. It would also include matters such as updating your Durable Power of Attorney for Health Care.

The second category would be personal matters such as:

  • Changes to your trustees or guardians.
  • Changes to your beneficiaries, adding gifts to grandchildren, or changing the ages at which beneficiaries will receive their inheritance.
  • Amending your estate plan to protect your beneficiaries, so that they do not lose their inheritance to creditors (in lawsuits) or spouses (in divorces).
  • A desire to do Advanced Estate Tax Planning.
  • Births, deaths, marriages, divorces, disabilities, incapacity or changes in your health, or the health of a beneficiary or trustee.
  • A change in your wealth, which could affect the distribution of your assets or your tax planning.
  • Receipt of an inheritance which may affect your estate plan.

It is with the above in mind that we created the 3 Year Review program and the Protective Estate Plan Review (“PEPR”) program. Please see below for a description of each.

3 Year Review

The 3 Year Review program provides you with the opportunity to have your estate plan reviewed with our office once every three years to ensure it is up-to-date after it is signed. This program is offered to you at no charge. If you decide to make any changes to your estate plan at that time, we will quote you a fee for the work. Under this program, we are not responsible for letting you know if the law changes in a way that requires you to amend your estate plan documents, and we will not meet every year. Click here to schedule a 3 year review.

Protective Estate Planning Review (PEPR)

The PEPR program is designed to provide you with an annual meeting to inform you about how changes in your personal circumstances and in the law affect your estate plan. This would include a review of your finances, relationships, taxes, insurance and other important matters. This program is offered to you for an annual fee. If you decide to make changes to your estate plan at that time, a percentage of the fee will be deducted from the total cost of the changes

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