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Offered by Dolan & Associates, P.C.

Estate planning is more than avoiding probate and saving taxes. A properly designed estate plan can provide so much more to protect your family. For example…

Mary had been through so much with Bill’s illness. After almost a year, it had taken him from her. Then came the accident. As Mary turned off the highway she was struck by a young driver. His serious injury seemed to be entirely his own fault, until a lawsuit convinced a jury that Mary’s turn signals were not working properly, shifting legal liability to her. The resulting claim far exceeded her auto insurance limits, and even after the insurance paid $1,000,000 to the injured driver, she was staring at a court judgment of more than $800,000. Her lawyer told her their savings and Bill’s life insurance proceeds were going to be wiped out, and a lien would be placed on the family home. Mary was looking at bankruptcy. Then she learned the good news.

Bill and Mary had sought legal advice when they first learned of his illness. The first lawyer they spoke with said they did not need estate planning. He told them to just “put everything in joint tenancy.” They weren’t comfortable with that advice, and sought advice from a counseling oriented attorney who took the time to learn more about them, their estate, and their goals.

Bill’s primary objective was to protect Mary when he died. As Mary was winding up Bill’s affairs, she realized that upon his death, their savings, his life insurance and the home would not come directly to her in her own name, but would be put in trust. Mary would control the trust, but it would protect the assets from legal claims. While he had no idea what claims might arise, Bill’s foresight was now going to really pay off.

If you would like to learn more about an alternative estate planning process that is producing great results for families, please visit: www.EstatePlansThatWork.com to sign up for a complementary educational workshop.

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Dolan & Associates | Estate Plans