Laurel counsels a holistic approach to estate planning. Rather than preparing ad-hoc documents by request, Laurel will first meet with new clients to determine what type of plan and accompanying documents are both needed and appropriate for that family’s individual situation. Prior to the first meeting, she may request some background information in order to prepare a first work session that is more tailored to each client’s individual situation.
At the first estate planning meeting, time will initially be spent in addressing concerns and identifying overall goals and objectives. Next, Laurel will work with her clients to create a plan and accompanying documents to best achieve those identified goals. In addition to standard legal documents such as wills, revocable trusts, durable powers of attorney and health care proxies, clients are also given the opportunity to fund their trusts during their lifetime, or to prepare ethical wills or other letters of instructions to fiduciaries, family members and friends. For higher net worth clients who may be concerned about the potential for estate tax liability, Laurel will discuss the suitability and advisability of more sophisticated estate tax planning techniques which may include the use of irrevocable trusts and other, more sophisticated, estate tax planning vehicles.
With regard to estate and trust administration, every estate has different and unique characteristics, dynamics, and action items. Laurel will work closely with the Personal Representative(s) and/or the Trustee(s) to create a tailored approach to each estate or trust administration representation.
Family Advisory Services are offered to a limited number of high net worth clients in need of advice and counsel to help identify, build, and coordinate a larger team of advisors, and to provide ongoing guidance in finding optimal ways to pursue philanthropic or other personal and financial goals and commitments. Family Advisory Services was born of Laurel’s multidisciplinary background in finance, law, and accounting, and is an entirely custom-tailored representation – typically on an annual fee basis.
When serving in her role as a Family Advisor, Laurel will offer ongoing advice, counsel, screening services, advisor referral services, due diligence and review services, but she will not participate in the drafting or preparation of any legal documents nor will she serve in her traditional role as the estate planning attorney for the client. Rather she will act as the family’s trusted and independent advisor, assisting in the creation and coordination of a team of advisors which may include such professionals as CPA’s, estate planning attorneys, corporate attorneys, wealth managers, insurance advisors, valuation experts, real estate advisors and so forth, dependent upon the specific needs of the client family.
The overriding goal of Family Advisory Services is the achievement of client identified goals in areas such as philanthropy, wealth management, family wealth transfer, business succession planning, and income and estate tax planning – areas which are all necessarily interwoven. By creating a multidisciplinary team to assist the family, with Laurel coordinating the team and serving as an independent advisor to the family, the client family – through increased expertise, efficiency, and effectiveness and streamlined and team oriented representation- can achieve optimal representation and much greater peace of mind.
A note about elder law/long term care planning.
Advice regarding Medicaid eligibility, protecting homes, planning for the aging process, and long-term care planning are not currently offered by Millette Law LLC, but referrals in these practice areas are available upon request.
Please contact Laurel to learn more about Millette Law, LLC.