Our Unique Process
The Law Offices of Stephen Sutera, P.C. has developed a unique process to design and maintain an estate plan and elder advice. Our goal is to assist our clients in controlling the assets that they have accumulated for their loved ones.
It has been our experience that many executed estate plans can fail to function in a manner which is consistent with the client’s desires. An estate plan that functions appropriately is one that meets your expectations during your lifetime, in case of your incapacity, and upon your death. We have an appreciation that our clients have worked extremely hard for the assets that they have accumulated and our clients have spent a lot of effort in attempting to teach their loved ones stewardship with regard to their family and assets. When clients have estate plans that do not function correctly, we have observed that their estates have shrunk in the following areas:
Improper management of assets during disability.
Improper protection of the client’s assets, exposing these assets to creditors.
Lack of coordination of their estate plan with their other advisors, such as their financial advisors and accountants.
Improper decisions and management with regard to medical decisions.
Higher administration expenses in case of death.
Unnecessary estate taxes.
Loss of inherited dollars as a result of the divorces by loved ones.
Assets improperly distributed to loved ones who are not prepared to manage assets.
Loss of government benefits for loved ones.
In order to take action to avoid these issues, the Law Offices of Stephen Sutera, P.C. has developed a process to help clients create a comprehensive customized estate plan that functions to meet the objectives of the client and functions to avoid the issues described above. In the process of completing this plan, it is our goal to establish a strong attorney-client relationship to provide long-term support.
Step 1: Counseling-Oriented Design Meeting
Estate planning is a process and it is not just a piece of paper. The true value of the counseling process is to uncover the needs of your family and to design a plan to meet these needs. You will share information with the attorney about your life, your concerns, and the lives of those you desire to provide for in your plan.
Only after discussing your desires with the attorney, along with the assets that you have accumulated, can a design be developed to meet your needs. It is also extremely important to educate us about other professionals who are involved in your life, since we will attempt to coordinate our planning with them.
Through this interactive counseling process, you will learn about a variety of planning options and will be able to choose those that best meet your goals and desires. As a result, your custom design will be developed, along with steps for implementation.
Step 2: Execution of Your Estate Plan
In most instances, the meeting to execute your estate plan will last up to three hours. We are willing to spend the time to make sure that:
You understand your estate plan and comprehend how it affects the long-term legacy you are leaving for your loved ones.
It is completed in the manner that we discussed in the design meeting.
This meeting will set the groundwork for your commitment to update your design based on changes that will occur throughout your life and the lives of your loved ones.
Step 3: Follow Up
This meeting will take place after you have executed your documents in order to verify that you have utilized the tools to make your plan function. It will involve a review of a variety of organizational items, along with the verification of the funding of your trust. By properly funding your trust and completing the organizational items, you are now creating an efficient and effective method to manage your estate.
“It is unwise to pay too much, but is worse to pay too little. When you pay too much, you lose a little money – that is all. When you pay too little, you sometimes lose everything because the thing you bought was incapable of doing the thing you bought it to do. The common law of business balance prohibits paying a little and getting a lot – it cannot be done. If you deal with the lowest bidder, it is well to add something for the risk you run, and if you do that you will have enough to pay for something better.”
— John Ruskin, English philosopher 1819-1900