Client Alert: The New Year Is a Great Time to Resolve to Make an Estate Plan!

Originally published in Y&D's February 3, 2020, Client Alert.

By: William C. Ferry, Esq.

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Estate Planning & Probate Law

Building one's life, family, career, savings, home, and community is a full-time job. Taking a moment from this to reflect on where you are, where you've been, and where you're going is part of your Estate Planning consultation with Yourkvitch & Dibo.

Because every person and family is different, we take a highly individualized approach to Estate Planning. We start by thoroughly getting to know you--not just the facts, but your attitudes, feelings, and beliefs. Only then may we suggest methods by which you can protect yourself, your family, your business, and your legacy.

Much of Estate Planning revolves around documents. But a natural result of our process is a learning experience, which not only helps you understand what we're doing for you and why, but will help you know when to reach out for help in the future.

The end result of Estate Planning with Yourkvitch & Dibo is that you know you're prepared--for anything.

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What is an Estate Plan?

An Estate Plan is a combination of written documents and directed actions which contemplate a long-term view of a person’s life. Estate Planning is often thought to be about giving away money and property upon death, but an effective, modern Estate Plan includes planning for life--for one’s children, parents, health care, disability, retirement, or even pets.

Thus, for most clients, we produce a package of documents which includes a Last Will and Testament, a Durable Power of Attorney, a Health Care Power of Attorney, and a Living Will. These “big four” estate planning documents name people who will administer your estate, receive your gifts and bequests, manage your financial affairs when you cannot, make health care decisions when you are unable, and tell the medical community how you would like to be treated in specific, serious health situations. But each does much more, and there are literally dozens of other special purpose documents used by Estate Planning Attorneys to help their clients.

Will Estate Planning make me wealthier?

Maybe. We don’t counsel you about how to make money. But we do help you and your family keep more of it and in all the right hands. For most estates, our planning pays for itself simply by the reduction of probate fees. But most families also greatly enjoy the speed and simplicity of a well-planned estate.

Will Estate Planning make me healthier?

Again, we won’t be on the Stairmaster with you! But our planning can help ensure your chosen representatives have access to health care information and decision-making power to help you when you can’t help yourself. And good planning has been known to lower stress levels!

Will Estate Planning make me wiser?

If you’re reading this? You’re already there!

How do we get started?

The first step is a free, no-obligation Questionnaire and Consultation. This allows us to recommend documents and procedures tailored to your specific circumstances. Only after you understand what we propose, and why, and you agree to move forward, will there be any fees.

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About William C. Ferry:

Bill joined Yourkvitch & Dibo in 2019 as an Associate Attorney after 11 years in solo practice. His focus is on Estate Planning and Probate Law and the intersection with Business Law and Succession Planning. He is a member of the Estate Planning Council of Cleveland.