Estate Plans That Work
At the Purdy Law Firm, your estate plan is exactly that, yours. Using trust based estate planning and the Planning Pyramid™ and our Evergreen Life Plan™, we give you an estate plan that works and is based on your needs, goals, dreams, and aspirations.
Why Estate Plans Fail
Many estate plans are doomed to failure. They fail to consider and address the following points:
- Catastrophic Illness Protection Would you prefer to go through a costly and public guardianship proceeding if you become mentally disabled and can no longer handle your own financial affairs, or would you prefer to have powers of attorney in place that would allow a trusted family member or friend to handle your financial affairs in that situation? Or would you rather decide ahead of time under what circumstances you should be considered disabled and provide specific authority with binding instructions to a disability trustee.
- Creditor/Preditor Protection Would you prefer to leave your assets to your spouse and your children in a way that would protect those assets from the consequences of the spouse or child being at fault in a serious accident, having inadequate insurance, suffering some impairment or a financial setback? Would you be interested if you knew it was done just with "words on a piece of paper", and it didn't cost more? Yet almost NO Estate Plans offer this kind of protection, and few planners ever ask about it. We do.
- Remarriage Protection Do you have a preference as to whether the assets you leave your spouse should be available to a new spouse, if your spouse remarries, or would you prefer to protect your childrens inheritance?
- Nursing Homes Do you have a preference as to whether you would like to stay at home as long as possible if you become disabled, even if it would require using all, or a large portion of your assets? Most of the people we have met and counseled about long-term care do have a preference for care, but haven't communicated it properly to their family.
The problem with traditional estate planning is that it doesn't take you into consideration.
Benefits of Proper Estate Planning
Trusts allow you to maintain control of your assets while alive and when properly maintained and funded can avoid probate, protect assets from creditors and predators, and disperse your assets according to your desires and wishes; and since it doesn’t go through probate the transactions are private.
A properly drafted trust can also provide for you and your estate if you ever become disabled or incapacitated. A proper estate plan also incorporate living wills and advanced medical directives as part of the comprehensive estate plan.
Clients of the Purdy Law Firm are committed to a process that ensures their estate plans remain current even as changes occur in their lives and aspirations. Laws change every year and these often include the laws for estate plans. Your circumstances also change. However, most people's estate plans don’t change to reflect change in the law or their personal lives. With our maintenance plan we'll make sure that your estate plan is updated to reflect life and legal changes and keep you updated as well. We'll also train your successors so they know how to operate the trust when they need to.
At the Purdy Law Firm, we’re committed to helping you make the best choice possible. So we offer free, no obligation workshops about estate planning. These workshops will help you understand what your options are when planning your estate. The dates and times of upcoming workshops are listed on the right hand side of the page. To sign up for one call us at 1-813-655-4940 or email us at jkpurdy@purdylawgroup.com or use our online form found on the contact us page.
Already Have an Estate Plan?
If you already have an estate plan, we’ll do a review of your current estate plan.
Please contact us if you have any questions or needs about:
- Wills and Trusts
- Estate Planning
- Asset Protection
- Medicaid Planning
- Wealth Preservation
- Real Estate Transactions
- Business Planning and Succession