Legacy Assurance Plan: A holistic approach to estate planning

While legal documents undoubtedly form the foundation, Legacy Assurance Plan recognizes that estate planning cannot be accomplished through an attorney alone. The legal lens covers drafting essential estate planning tools such as:

• Last will and testaments to direct the distribution of probate assets.


• Revocable living trusts to avoid probate and provide for incapacity planning.


• Durable powers of attorney to allow designated agents to make financial and health care decisions if you cannot.


• Advance directives (living wills) to outline your end-of-life preferences.


• Deeds to facilitate property transfers outside of probate.

These legal components establish the overall framework. However, Legacy Assurance Plan layers additional administrative services and complementary strategies on top of just drafting documents.

Your estate plan needs to be purposefully coordinated with your financial accounts and assets to ensure everything works together seamlessly. The financial lens focuses on:

• Reviewing all beneficiary designations on life insurance, retirement plans, investment accounts, etc., to confirm they align with your specific wishes outlined in the legal documents.


• Ensuring any trusts created are properly "funded" by retitling assets like bank accounts, investment accounts and real estate into the trust's name.


• Providing access to financial professionals who can assist with retirement income planning, long-term care planning, estate equalization strategies and more.

The key goal is avoiding conflicts where the beneficiary designations on accounts inadvertently override the instructions you've outlined in your will or trust.

Taxes can take an enormous bite out of your estate if not properly planned for. The tax lens aims to implement strategies to minimize or eliminate taxes, such as:

• For very large estates, reducing estate taxes through advanced trust planning, lifetime gifting strategies, etc.


• Planning for the income tax implications when beneficiaries inherit retirement accounts like 401(k)s and IRAs to avoid pushing them into higher tax brackets.


• Addressing potential capital gains taxes when beneficiaries sell inherited assets by ensuring a step-up in basis.

Coordinated tax planning is crucial to preserving the value of your legacy for your loved ones.

All estates face potential risks that could derail your plans, such as market volatility, lawsuits, divorce, substance abuse issues and the catastrophic costs of long-term care. The risk lens carefully evaluates your unique situation to proactively address these threats through strategies like:

• Adjusting your asset allocation as you age to reduce exposure to market risk and volatility.


• Utilizing specialized trusts and insurance products to protect assets from being depleted by long-term care costs.


• Implementing legal strategies to insulate certain assets from creditors, lawsuits and divorce claims.

Proactively managing these risks helps safeguard your lifetime income needs and the ultimate inheritance you'll be able to pass on.

For business owners, your company needs to be properly integrated into your overall estate plan to prevent potential disruptions, management chaos or even failure due to issues like:

• Lack of designated decision-makers authorized to act if you become incapacitated.


• Probate delays tying up business operations and cash flow after your death.


• Unqualified or uninterested heirs inheriting and mismanaging the business.

The business lens covers key areas like entity formation, succession planning for ownership and management, funding the business transfer and securing adequate insurance.

A critical differentiator of Legacy Assurance Plan is the recognition that estate planning is an ongoing process, not a one-time event. Your plan requires systematic reviews and updates to account for:

• Major life events like marriage, divorce, births, deaths, etc., that impact your plan.


• Changes in your goals, net worth, assets and overall family situation.


• New tax laws and other legal or financial developments that necessitate adjustments.

With Legacy Assurance Plan's membership model, you gain access to a team of experienced professionals who can systematically review and update your plan as needed to ensure it always accurately reflects your latest circumstances and objectives.

As a Legacy Assurance Plan member, you receive a comprehensive suite of estate planning services and exclusive benefits, including:

• Working with an experienced, vetted estate planning attorney who specializes in this area.


• Professional guidance on properly funding your plan by retitling assets into trusts.


• A thorough review of all beneficiary designations across accounts to ensure coordination.


• Consultations with fiduciary-level financial advisors on retirement, insurance, investments, etc.


• Periodic reviews of your full plan to identify any needed updates based on life events.


• Assistance for your successors during the estate settlement process after your passing.


• A loyalty rewards program for referring friends and family members.


• Option to enroll in a document replacement and maintenance program.

This coordinated team approach with complementary services ensures all components of your estate plan work together cohesively.

Procrastinating on estate planning means operating under your state's default plan through intestacy laws – which likely does not account for your specific wishes, family dynamics and asset situation. Legacy Assurance Plan emphasizes the importance of being proactive, especially for complex scenarios like:

• Blended families from multiple marriages.


• Unmarried couples, whether same-sex or opposite-sex.


• Business owners needing succession and transition planning.


• Families with special needs beneficiaries requiring supplemental trusts.

By becoming a member today, you tap into Legacy Assurance Plan's structured process and team of professionals to efficiently create a truly comprehensive estate plan tailored to your unique goals and circumstances.

While just meeting with an estate planning attorney is a good start, Legacy Assurance Plan provides the additional financial, tax, risk management and business planning strategies needed to develop a holistic, fully integrated plan. Estate planning is an ongoing journey, not a one-time event. With the Legacy Assurance Plan lifetime membership approach, you gain a committed partner to guide you through each life stage and ensure your plan always accurately reflects your latest situation and objectives.

Don't wait until it's too late – start protecting your family's future today with Legacy Assurance Plan's multi-lens, team-based approach to comprehensive estate planning.