In Mark's book, Get Real: Planning for Life, Death, Disability, he outlines our process for creating your Family Legal Life™ Plan. (If you haven’t received a copy of this book, please us know now and we’ll send you one. Or you can request one online here.) This is a reminder of what to expect once you start that process.
The first thing to do once you’ve decided to create the Family Legal Life™ Plan to understand the goals and concerns you have for your family after your passing and the concerns you have for them and for you if you become incapacitated. You will discuss these concerns with our team and study options available to you to address those concerns. You’ll choose what we call the Best Option™ and help me know who you’ll have step in to handle assets and other decisions for you if you’re unable.
Once we have that information, we begin the IEP Integrator™ Process. Our team will put your goals and concerns into writing (planning documents) for your signature and review your assets so together we can begin the process of integrating all of your assets into your Legal Life™ Plan.
We’ll then sit down, review your plan, review the documents establishing your plan, then have you sign them all so when something happens, we have your plan committed to paper and your fiduciaries will be able to simply implement the plan as you designed it.
After you have executed the plan documents and have begun the IEP Integrator™ Process, we’ll have a Family Implementation and Education Meeting. We find it incredibly helpful to have the family know that you’ve created a plan and what basics of that plan are. That way, when something does happen, they’ll know what’s expected of them and where to turn for help.
After the Family Meeting, you’ll engage the Plan Protector™ Program. This begins our effort to help you review your plan and your situation on a regular basis and improve the plan depending on the changes in your life. We’ll meet with once a year to see what changes have happened in your life and your family and our team will update you on changes in the legal world that affect your Family Legal Life™ Plan. We’ll see if you need to adjust your documents to make sure your plan stays current with these changes. By the way, the annual meeting and any adjustments to the documents are included in the annual payment for the Plan Protector™ Program.
If you have other questions about Idaho Estate Planning’s Five Point Comprehensive Planning™ Process, please contact Bill and he’ll get your questions answered.