The 5-Step Approach To Ogborne Law Estate Planning

When you die or if you are incapacitated, it doesn’t matter how wealthy you are. There will be important determinations to be made by the people who love you. In addition to feelings of loss, your loved ones will be challenged with legal decision-making.

Your family will be eternally grateful that you cared enough to handle complicated legal issues for them. You can live better today with the peace of mind from making good choices for your loved ones’ tomorrows.

Probate laws vary from state-to-state. If you die without an estate planning portfolio, the court may make decisions that might not be in your or your family’s best interests. Ogborne Law uses a 5-step approach to Arizona estate planning.

1. Assessment

You will schedule an initial evaluation where we discuss your family dynamics. What are the names of the people in your immediate family? This might include your spouse and children. What extended family relationships are important to you? This may include siblings, parents or grandchildren.

We’ll ask about your personal goals and financial concerns. During the assessment meeting, we’ll also discuss your assets. This might include:

• Personal property – Items solely in your name. Some examples are:
  • Bank accounts
  • Family heirlooms
  • Inheritances
  • Real estate
  • Stocks/bonds, investment/retirement accounts
  • Vehicles or recreational vehicles
• Shared property – Usually your home, but this may also include other assets, like bank accounts, vehicles and investment accounts.

2. Planning

It’s time for us to get busy! We will build an estate plan that takes everything you have told us into account. We’ll create documents that address your goals and concerns. We’ll include protection strategies for your loved ones. We will also include provisions for your long or short-term medically-managed healthcare if ever needed.

3. Review

At this point, you will become an editor and we will become teachers. You will review and evaluate your estate documents. There may be items omitted that you want. You may want to change some of the preferences. You edit, and we’ll make corrections.

Some of the wording may be off so we will address it. Perhaps there’s a portion you don’t quite understand so we’ll walk you through it. Also, life changes, and sometimes it changes quickly. If there has been a new event in your life or situations have changed, we’ll add the new provisions.

4. Implementation

At this point, we review your final documents. If they are exactly what you want, you sign them.

5. Follow-Up

This might be the most important estate-planning step. You don’t invest in an estate plan, sign off, and then forget about your estate planning portfolio. What we’ve done together is like constructing a house. We build the foundation and your estate plan is the cornerstone. You should schedule regular annual reviews.

What Does an Ogborne Law Estate Planning Portfolio Include?

How your personal and business finances are managed and dispersed is part of the estate planning process. At Ogborne Law, we can help you put together an effective, legal estate planning portfolio. Each estate planning portfolio is customized and needs-based. Some of the documents you may need include:

• Beneficiary designation(s)
• Buy/sell agreement for business partners and your family
• Cohabitation, pre or post-nuptial agreement
• Durable power of attorney
• Guardianship designation for minor children
• Healthcare power of attorney
• Letter of intent
• Life insurance information
• Living will
• Trust
• Will

Contact Ogborne Law to schedule a consultation. Today is not too soon, because tomorrow belongs to those who prepare.