Our Unique Process for Estate Planning and Asset Protection
At Dennis Sullivan and Associates we help clients meet their goals and objectives through a unique process that combines both education and counseling. The process begins with educational Trust and Asset Protection Workshops.
We will even provide a unique 19-point analysis of your existing plan, if you have one. Our unique 19-Point Trust, Estate and Asset Protection analysis provides you with the ability to identify and fix hidden mistakes in existing planning. If you do not have a plan, we will help you develop a plan based on your personal goals and objectives.
In our experience, we often find more than 9 mistakes! Research shows that 86% of trusts and estate plans are outdated. The reason for this is that many estate plans focus on what happens when you die, instead of how to protect your home, spouse and life savings while you’re alive.
We don’t just create trust documents. Most important we help people discover, review and analyze estate plans to make sure that your existing plan provides you with peace of mind and the level of protection that you would like for you and your family.
LIFETIME PROTECTION PROGRAM
Once a plan is established we help review it annually to make sure it continues to meet a families objectives even as the law, finances and personal circumstances change. We call this annual review process the Lifetime Protection Program. As part of the program we also review your planning for changes and make sure your assets are coordinated with your trust. We update documents and provide ongoing educational seminars exclusive for members. We also review planning so that it `will be effective if you are disabled or need nursing home care. We want our clients to know they’ve made the very best decisions for their family during their lifetime and to give them peace of mind, knowing a trusted adviser will always be there for their family’s needs. All Participants in the program also automatically receive complementary 24/7 access to your important health care documents.
“We have been extremely happy with the whole experience!”
– A.L., Natick
“Dennis provided strong direction and guidance in developing and implementing a lifetime protection plan.”
– A.S., Holliston
“The experience has been excellent. I am exteremely satisfied with the Lifetime Protection Program.”
– M.D., Natick
LIFE PLAN VS DEATH PLAN
Most of the Trust Documents that we review are “Death Plans.” They are designed to solve problems that ordinarily occur at death: Avoiding Probate, Minimizing Estate Taxes and Distributing the Estate. And while all of these problems are significant, they are only the beginning.
Yet in many situations, the documents stop there.
The most important part of our unique process focuses on reviewing, revising, and monitoring your documents so they work while you and/or your beneficiaries are alive. The provisions and documents in your Plan that address these issues are referred to as the Life Plan.
There are two parts to the “Life Plan:” the “Pre-Death Plan” and the “Post Death Plan.” The Pre-Death Plan includes provisions and documents that address “disability issues”, “proxy documents”, “asset protection provisions”, including nursing home protection, for the benefit of the Trustors. The “Post-Death Plan” includes provisions that address assets protection provisions for the life of the children as well as for life of the grandchildren.
Most of the Trust documents that we review do not adequately address either the “Pre-Death Plan” or the “Post-Death Plan.” Many documents don’t address these issues at all. Our unique process has been designed, developed, and continually improved to help people in their desire to protect their home, spouse, family, and life savings.
IMPORTANT LIFETIME DOCUMENTS
These important documents, legally authorize another individual to act on your behalf. This includes making decisions for you, obtaining personal private information, and even signing your name.
The most common examples are Powers of Attorney, Health Care Proxies and HIPAA Authorizations.
The Power of Attorney, gives an individual the authority to act on behalf of another regarding financial transactions.
There are two types of Powers of Attorney; “springing” and “immediate.” The difference between these two types is when they become effective. The “springing” power is not effective until the person delegating the authority has been proven to be incompetent. The immediate power is effective immediately and therefore the delegation of power is not dependent on any other event.
Almost without exception, Powers of Attorney should be “immediate” and Health Care Proxies should be “springing.” It is not uncommon to discover that the language in at least one of these documents is incorrect, but more often than not, the language in both documents is backwards.
To ensure that your wishes are interpreted correctly and carried out according to your plan, it is very important that your important documents be prepared by a professional attorney.
Not all attorneys treat the process of creating these documents in the same way. Sometimes these documents are drafted to simply meet the minimum legal requirements.
At the Estate Planning and Asset Protection Law Center of Dennis Sullivan and Associates, that’s not the way we do business. We treat every client as an individual, and we ensure that their documents are drafted professionally and with the proper language. We even utilize a proprietary 19 Point Trust Document Checklist to ensure your home, spouse, family, and life savings are protected.
We can help you plan for the future as well as keep you on track with out Lifetime Protection Program. To learn more, contact our office at (781)237-2815.
CREATING AND FUNDING YOUR TRUST
CREATING YOUR TRUST
First, we review your existing documents to determine what provisions and / or documents are missing or require revisions based upon your current goals and objectives. Then we rewrite or update your plan to reflect updates, changes, or enhancements you would like to include now.
After your plan and documents have been completed, we review them with you, so you fully understand them. We even provide diagrams and summaries to enhance your understanding and review now and in the future.
FUNDING YOUR TRUST
After the documents have been signed, we verify that all of your assets are registered correctly. This is a critical step, and if it is not done properly, your estate plan will be little more than a stack of paper.
We’ll also provide you with written instructions that clearly explain how your assets should be registered.
What Our Clients Experience
Request a Consultation
Resources Available By Request
Discover how you can protect your home, spouse, family and life savings from increasing medical and nursing home costs.