Georgia Wills, Trusts and Estate Planning Blog: Estate Planning: A Three-Step Strategy

The estate planning pyramid gives a hierarchy of goals for estate planning. This pyramid is useful in developing an estate planning strategy based on specific client goals. At the bottom of the pyramid is the SELF. The most important goals are centered on maintaining our estate for our own protection and benefit. Likewise an estate plan should provide protection and benefits for the ones that we love, our FAMILY. The next goal is to have the estate plan structured to protect what we have or PRESERVE WEALTH. Beyond that, our estate plan needs to anticipate INCREASING WEALTH. The final consideration is to reduce TAXES AND PROBATE.

Georgia Wills, Trusts and Estate Planning Blog: Estate Planning: A Three-Step Strategy

The Three-Step Strategy

Estate planning is a process, not a set of documents. For an estate plan to achieve all of a clients goals, a three-step strategy should be used.

1. Work with a Counseling Oriented Attorney
2. Use a Formal Updating System
3. Assure your Successors Utilize Fixed Fee Services after death