Our Estate Planning Process

At Yuan Law Firm, we customize your estate plans according to your personal and financial priorities, your unique family dynamics, and your long term planning goals.  We take time to know you and your family and work with your financial advisors, CPAs, insurance agents, or business advisors to make sure that your estate planning and financial planning work well together to give you maximum protection.

estate-planning-process

Step 1 – Preliminary conversation to set expectations for the initial consultation meeting

Step 2 – Initial consultation

Step 3 – Design of the Estate Plan

Once the signed engagement letter and payment have been received, we will begin the interactive process of constructing the plan that will achieve your objectives.  In order to ensure that the documents have been prepared in accordance with your goals and that you understand and are comfortable with the general concepts built into the planning structure, we will meet (either on the phone or in person) to review the planning in detail.  We will discuss how the documents function to meet your goals, answer any questions you have and identify any necessary revisions.  This process is then repeated for any revised drafts as needed.

Step 4 – Signing of documents

Once the draft documents have been finalized, we will schedule a signing appointment, during which we will walk through a final review of the planning arrangements and execute the documents.

Step 5 – Implementation  

During the signing appointment, we will discuss with you (and your advisors, if appropriate and with your consent) the steps necessary to connect your assets to your planning arrangements (through changes in beneficiary designations, retitling of assets, etc.).  If we recommend that your real estate be re-titled as part of the estate planning process, we are able to prepare new deeds.  With respect to your other assets, we generally do not carry out the funding steps directly (unless you engage us to do so), however, we will discuss the steps you should take with each particular asset and will assist you with and answer any questions you may have regarding the funding process.

Step 6 – Maintenance and Annual Review

Once the documents have been finalized and the assets have been properly aligned with the overall plan, the project has been completed.  However, the plan should be monitored and updated if your financial and/or family situation or the legal landscape surrounding the planning changes.  We recommend an annual review.

Our estate planning process is geared toward providing comprehensive and customized planning services.  We look forward to working with you to implement planning arrangements which will most effectively achieve your goals.